8-Room Office
For Sale
$350,000
2845 W Prince Street, Conway, AR 72034
Main-street office property with a lobby, multiple rooms, and a recently installed HVAC system.
Property Size1,960 SF
Price / SF$178.57
Days on Market15
Property Features for 2845 W Prince Street
General Information
Standard status
Active
Size
1,960 SF
Property subtype
CommercialSale
Additional Details
Road Access
Yes
Listing Agency:
All Around Real Estate Dover
(479) 857-3436
Listed By:
Shery Ragsdale · License #SA00086850
(479) 857-3436
Source:
Connectrealtynwa
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 30 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of All Around Real Estate Dover
Investment Insights
Based on property information with market context.
This office building provides a practical layout with a main lobby and 8 separate rooms. The configuration can accommodate a range of office-oriented operations, including medical or legal offices, an insurance agency, or other professional uses. The property also suits service businesses such as pet grooming, hair or beauty services, and daycare, as identified for the space.
Situated on W Prince Street, the building is on a main street and offers access to shopping, the University of Central Arkansas, Conway Regional Hospital, and downtown Conway. A new HVAC system was installed in July 2025, adding a recent building-system improvement to the property.
Situated on W Prince Street, the building is on a main street and offers access to shopping, the University of Central Arkansas, Conway Regional Hospital, and downtown Conway. A new HVAC system was installed in July 2025, adding a recent building-system improvement to the property.
Key Highlights
- 8 separate rooms plus a main lobby
- New HVAC installed in July, 2025
- Located on W Prince Street in Conway, AR
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
$24,580
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
7.02%
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%
$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
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
$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 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%
$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
Healthcare Medical
$236.6K
$207.1K – $276.1K
NOI $16,564 @ 7.0% cap · market cap 4.73%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office 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?
Office building - Main-street office property with a lobby, multiple rooms, and a recently installed HVAC system.
Where is this office building 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: 8 separate rooms plus a main lobby; New HVAC installed in July, 2025; Located on W Prince Street in Conway, AR
