Multi-Tenant NNN Flex Space
For Sale
$2,230,000
21118 Wade Road, Springdale, AR 72764
COMMERCIAL - Springdale, AR
Property Size11,998 SF
Lot Size3.48 Acres
Price / SF$185.86
Days on Market32
Property Features for 21118 Wade Road
General Information
Property type
Commercial Sale
Property subtype
Other
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.
Standard status
Active
APN
001-18273-008
Size
11,998 SF
Lot size
3.48 Acres
Taxes and HOA fees
Tax Description
PT SE SW & PT SW SE 3.48 AC FURTHER DESCRIBED IN 2021-45680 AS: A PART OF THE SE/4 OF THE SW/4 AND PART OF THE SW/4 OF THE SE/4 OF SECTION THlRTY-TWO (32), TOWNSHIP EIGHTEEN (18) NORTH, RANGE TWENTY-EIGHT (28) WEST OF THE FIFTH PRINCIPAL MERIDIAN, WASHIN
Legal Description
PT SE SW & PT SW SE 3.48 AC FURTHER DESCRIBED IN 2021-45680 AS: A PART OF THE SE/4 OF THE SW/4 AND PART OF THE SW/4 OF THE SE/4 OF SECTION THlRTY-TWO (32), TOWNSHIP EIGHTEEN (18) NORTH, RANGE TWENTY-EIGHT (28) WEST OF THE FIFTH PRINCIPAL MERIDIAN, WASHIN
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Propane (Heating), Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
11
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Lane Auth · License #SA00091806
(479) 365-4307
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 20 at 9:06AM
MLS# 1355370
Copyright © 2026 ArkansasONE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2023, this flex space center contains 11,998 square feet across a multi-tenant configuration. The property is 91.3% leased, with 9 tenants and two vacant units. Existing leases are structured on an NNN basis. Building features include concrete flooring, a metal roof, electric cooling, and propane and electric heating.
The 3.48-acre property is located at 21118 Wade Road in Springdale, Arkansas, along Highway 412, which carries approximately 19,000 vehicles per day. Public water, septic service, and propane are identified for the site.
The 3.48-acre property is located at 21118 Wade Road in Springdale, Arkansas, along Highway 412, which carries approximately 19,000 vehicles per day. Public water, septic service, and propane are identified for the site.
Key Highlights
- 11,998‑square‑foot flex space center on 3.48 acres
- 91.3% leased with 9 tenants and two vacant units
- NNN lease structure across existing tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,467
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,469,340
$1.5M
Cap Rate 7%
$1,049,529
$1.0M
Cap Rate 9%
$816,300
$816.3K
Market Conditions
NOI Build-Up for 11,998 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.5K $8.04/SF
− Vacancy
−$10.0K −$0.84/SF
EGI
$86.4K $7.20/SF
− OpEx
−$13.0K −$1.08/SF
NOI
$73.5K $6.12/SF
Area
Washington County, AR
Vacancy
10.40%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,469,340
Cap Rate 7%
$1,049,529
Cap Rate 9%
$816,300
Alternative Uses
Best Use
Warehouse
$1.05M
$918.3K – $1.22M
NOI $73,467 @ 7.0% cap · market cap 3.29%
Second Best
Industrial
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 3.15%
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.
Property Analytics
Property Profile
Current Use
Lease Details
91.3%
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant flex center with NNN leases, established occupancy, and room for additional tenancy.
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 space center on 3.48 acres; 91.3% leased with 9 tenants and two vacant units; NNN lease structure across existing tenancies
