Multi-Tenant NNN Flex
For Sale
$2,230,000
21118 Wade Road, Springdale, AR 72764
Commercial / Industrial, Springdale, AR
Property Size11,998 SF
Lot Size3.48 Acres
Price / SF$185.86
Days on Market96
Property Features for 21118 Wade Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
30
Directions
Head east on Highway 412 for 6.5 miles from Butterfield Coach Road. Turn right onto Wade Road and then turn left into the parking lot after 400 feet as the building is on the south side of Highway 412.
Subdivision
SPRINGDALE
Standard status
Active
Size
11,998 SF
Lot size
3.48 Acres
Taxes and HOA fees
Tax Description
PT SE SW & PT SW SE ...
Tax Annual Amount
7986
Legal Description
PT SE SW & PT SW SE ...
Building Details
Year built
2023
Floors in Building
1
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Christian Baldwin
(479) 685-5696
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 24 at 12:06AM
MLS# 26029595
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2023, this multi-tenant flex property contains 11,998 square feet across 10 tenant suites. The center is 79% leased, with one 2,400 SF suite currently available. Existing occupancy is structured under NNN leases, providing a defined landlord-tenant responsibility framework.
The 3.48-acre property is located at 21118 Wade Road in Springdale, Arkansas, along Highway 412. The corridor reports approximately 19,000 vehicles per day, providing exposure to a significant regional roadway. The property is positioned in east Springdale within Washington County.
The 3.48-acre property is located at 21118 Wade Road in Springdale, Arkansas, along Highway 412. The corridor reports approximately 19,000 vehicles per day, providing exposure to a significant regional roadway. The property is positioned in east Springdale within Washington County.
Key Highlights
- 11,998‑square‑foot flex center built in 2023
- 79% leased with one 2,400 SF suite available
- 10 tenants under NNN leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,145
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,402,900
$1.4M
Cap Rate 7%
$1,002,071
$1.0M
Cap Rate 9%
$779,389
$779.4K
Market Conditions
NOI Build-Up for 11,998 SF
Gross rent
$108.0K $9.00/SF
− Vacancy
−$7.8K −$0.65/SF
EGI
$100.2K $8.35/SF
− OpEx
−$30.1K −$2.51/SF
NOI
$70.1K $5.85/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,402,900
Cap Rate 7%
$1,002,071
Cap Rate 9%
$779,389
Alternative Uses
Best Use
Industrial
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 3.15%
Second Best
Flex RnD
$898.4K
$786.1K – $1.05M
NOI $62,889 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,432 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
79%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Newer flex center with multiple suites, NNN lease structure, and a unit available for lease-up.
Where is this flex space located?
The property is located at 21118 Wade Road Springdale, AR.
What is the asking price?
The asking price for this property is $2,230,000.
What are key features of this property?
This property features: 11,998‑square‑foot flex center built in 2023; 79% leased with one 2,400 SF suite available; 10 tenants under NNN leases
