Listing Agency: All Around Real Estate Dover Show Phone

Listed By: Shery Ragsdale · License #SA00086850 Show Phone

Source: Connectrealtynwa

Added: Aug 17 Changed: Sep 10 Last Checked: Oct 14 at 10:51PM

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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.

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 / 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

Is this asking price fair?

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 (±1% cap)

NOI $24,580 @ 7.0% cap · market cap 7.02%

Second Best

Healthcare Medical

$236.6K

$207.1K – $276.1K (±1% cap)

NOI $16,564 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$447.1K

$391.2K – $521.6K (±1% cap)

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

West Prince Animal ... Veterinary Clinic

Suggested Use

Top Pick Law Firm Real Estate Agency Building Supply HVAC Service Kitchen & Bath Showroom Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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