Multi-Room Office
For Sale
$350,000
2845 W Prince Street, Conway, AR 72034
CommercialSale, Conway, AR
Property Size1,960 SF
Lot Size0.35 Acres
Price / SF$178.57
Days on Market452
Property Features for 2845 W Prince Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Parking Lot
Appliances
GasWaterHeater
Lot features
City Lot
Directions
From I-40 and Oak Street go West on Oak St, take round about 1st exit at Donaghey, take round about 3rd exit at Prince St. Stay straight (2nd exit) on next 3 round abouts, go all the way around the round about at Salem Rd heading back East on Prince St. 2nd busines on the right next door to Chipotle
Standard status
Active
APN
710-07576-000
Size
1,960 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Description
LOT 2 WESTHAVEN SUB
Tax Annual Amount
2348
Legal Description
LOT 2 WESTHAVEN SUB
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick, Rock, VinylSiding
Roof type
Shingle
Listing Agency:
All Around Real Estate Dover
(479) 331-4663
Listed By:
Shery Ragsdale · License #SA00086850
(479) 857-3436
Added: Jul 18, 2025
Changed: Sep 16
Last Checked: Oct 12 at 10:06PM
MLS# 1315109
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.
This 1,960-square-foot office property was built in 1967 and includes a main lobby plus 8 separate rooms. The layout is suited to office-based operations and can accommodate uses such as medical or legal offices, insurance services, salons, pet grooming, or daycare. Interior features include vinyl flooring, central heating and air conditioning, and a gas water heater. A new HVAC system was installed in July 2025.
The property occupies 0.3486 acres on W Prince Street in Conway, with a parking lot and access to public water and sewer. Its location provides proximity to downtown, shopping, the University of Central Arkansas, and Conway Regional Hospital. Brick, rock, and vinyl siding form the exterior, with a shingle roof.
The property occupies 0.3486 acres on W Prince Street in Conway, with a parking lot and access to public water and sewer. Its location provides proximity to downtown, shopping, the University of Central Arkansas, and Conway Regional Hospital. Brick, rock, and vinyl siding form the exterior, with a shingle roof.
Key Highlights
- 1,960‑square‑foot office property on 0.3486 acres
- 8 separate rooms plus a main lobby
- New HVAC installed in July 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,580
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,600
$491.6K
Cap Rate 7%
$351,143
$351.1K
Cap Rate 9%
$273,111
$273.1K
Market Conditions
NOI Build-Up for 1,960 SF
Gross rent
$36.5K $18.60/SF
− Vacancy
−$3.7K −$1.88/SF
EGI
$32.8K $16.72/SF
− OpEx
−$8.2K −$4.18/SF
NOI
$24.6K $12.54/SF
Area
Faulkner County, AR
Vacancy
10.10%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,600
Cap Rate 7%
$351,143
Cap Rate 9%
$273,111
Alternative Uses
Best Use
Office B
$351.1K
$307.3K – $409.7K
NOI $24,580 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.1K
$391.2K – $521.6K
NOI $31,294 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Explore this area
Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial layout with a lobby, multiple private rooms, parking, and a recently installed HVAC system.
Where is this office units located?
The property is located at 2845 W Prince Street Conway, AR.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,960‑square‑foot office property on 0.3486 acres; 8 separate rooms plus a main lobby; New HVAC installed in July 2025
