Income-Producing Commercial Package For
For Sale
$2,000,000
302 EAST PARKWAY, Russellville, AR 72801
COMMERCIAL - Russellville, AR
Property Size15,322 SF
Lot Size1.00 Acre
Price / SF$130.53
Days on Market97
Property Features for 302 EAST PARKWAY
General Information
Property type
Commercial Sale
Property subtype
Retail
Lot features
Corner Lot
Directions
Corner of E. Parkway and N. Cleveland Ave.
Standard status
Active
APN
758-00409-000C
Size
15,322 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
LOT 5 & 6 OF BLK 76 OF J.L.SHINN ADDITION TO THE CITY OF RUSSELLVILLE.
Legal Description
LOT 5 & 6 OF BLK 76 OF J.L.SHINN ADDITION TO THE CITY OF RUSSELLVILLE.
Building Details
Year built
1999
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Wetzel Group
(479) 970-0986
Added: May 16
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# 1347674
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 income-producing commercial package is located along a high-traffic roadway, minutes from downtown and Arkansas Tech University (ATU). The property includes a fully occupied strip mall featuring a total of 5 suites, with 3 suites secured by 5-year leases, offering stable long-term rental income from established tenants. In addition to the commercial frontage, the property includes 4 rental houses, all currently leased, creating multiple streams of revenue and a strong occupancy history. The property's location ensures excellent visibility, consistent traffic flow, and proximity to surrounding businesses, neighborhoods, and student populations. The property size is 15,322 square feet on a 1-acre lot.
Key Highlights
- High traffic location minutes from downtown and ATU.
- Multiple income streams from commercial suites and rental houses.
- Fully occupied with established tenants.
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
$138,242
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
6.91%
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%
$2,764,840
$2.8M
Cap Rate 7%
$1,974,886
$2.0M
Cap Rate 9%
$1,536,022
$1.5M
Market Conditions
NOI Build-Up for 15,322 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
$211.4K $13.80/SF
− Vacancy
−$14.0K −$0.91/SF
EGI
$197.5K $12.89/SF
− OpEx
−$59.2K −$3.87/SF
NOI
$138.2K $9.02/SF
Area
Pope County, AR
Vacancy
6.60%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,764,840
Cap Rate 7%
$1,974,886
Cap Rate 9%
$1,536,022
Alternative Uses
Best Use
Retail
$1.97M
$1.73M – $2.30M
NOI $138,242 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,617 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$2.45M
$2.14M – $2.86M
NOI $171,361 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
107k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Home Improvements & Furnishings 1%
Russellville #1
Shops & Services
20,504 visits/mo
0.4 miles
Wendy's
Dining
17,448 visits/mo
0.5 miles
Taco Villa
Dining
9,386 visits/mo
0.4 miles
Arby's
Dining
7,784 visits/mo
0.4 miles
KFC
Dining
6,781 visits/mo
0.4 miles
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Commercial strip mall with rental houses near downtown and ATU.
Where is this strip mall located?
The property is located at 302 EAST PARKWAY Russellville, AR.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: High traffic location minutes from downtown and ATU.; Multiple income streams from commercial suites and rental houses.; Fully occupied with established tenants.
