Office Building with Synthetic
For Sale
$1,400,000
3024 N Market Ave, Fayetteville, AR 72703
Concrete block construction and on-site parking define this office property.
Property Size7,825 SF
Price / SF$178.91
Days on Market74
Property Features for 3024 N Market Ave
General Information
Standard status
Active
Size
7,825 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,822
Building Details
Year Built
1976
Buildings
1
Construction
concrete block
Listing Agency:
Hillcrest Real Estate Group, LLC
(479) 283-2258
Listed By:
Bob Hill · License #PB00047670
(479) 283-2258
Source:
Exprealty
Added: Jun 8
Changed: Aug 20
Last Checked: Aug 20 at 9:58AM
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 Hillcrest Real Estate Group, LLC
Investment Insights
Based on property information with market context.
The Trumbo Building is a 7,825-square-foot office property constructed with concrete block and topped by a flat Firestone synthetic roof installed in 2008. The site includes concrete parking for 19 vehicles at the front, along with an additional 3-4 spaces at the rear.
Located at 3024 N Market Ave in Fayetteville, the property provides access to Highway 71, Interstate-49, and Highway 265. Building utilities are separately metered with six electric meters and six gas meters, while water service is supplied through one meter.
Located at 3024 N Market Ave in Fayetteville, the property provides access to Highway 71, Interstate-49, and Highway 265. Building utilities are separately metered with six electric meters and six gas meters, while water service is supplied through one meter.
Key Highlights
- 7,825‑square‑foot office building at 3024 N Market Ave, Fayetteville, AR
- Concrete block construction with a flat Firestone synthetic roof installed in 2008
- Concrete parking provides 19 front spaces and 3‑4 rear spaces
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
$118,145
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
8.44%
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%
$2,362,900
$2.4M
Cap Rate 7%
$1,687,786
$1.7M
Cap Rate 9%
$1,312,722
$1.3M
Market Conditions
NOI Build-Up for 7,825 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
$169.0K $21.60/SF
− Vacancy
−$11.5K −$1.47/SF
EGI
$157.5K $20.13/SF
− OpEx
−$39.4K −$5.03/SF
NOI
$118.1K $15.10/SF
Area
Washington County, AR
Vacancy
6.80%
Lease Rate
$21.60 /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%
$2,362,900
Cap Rate 7%
$1,687,786
Cap Rate 9%
$1,312,722
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,145 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $147,025 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 72703, AR
33,767
Population
17,202
Households
2
Avg Household Size
33
Median Age
49%
College-Educated
96%
High-School Grad
40.2 sq mi
ZIP Area
840
Density / Sq Mi
$60,232
Median Household Income
$39,190
Median Earnings
$958
Median Rent
$341,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Concrete block construction and on-site parking define this office property.
Where is this office building located?
The property is located at 3024 N Market Ave Fayetteville, AR.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7,825‑square‑foot office building at 3024 N Market Ave, Fayetteville, AR; Concrete block construction with a flat Firestone synthetic roof installed in 2008; Concrete parking provides 19 front spaces and 3‑4 rear spaces
