Brick Triplex with Three-Bedroom
New
For Sale
$649,000
312 W Butler Street, Prairie Grove, AR 72753
Residential, Prairie Grove, AR
Property Size3,291 SF
Lot Size0.26 Acres
Price / SF$197.20
Days on Market6
Property Features for 312 W Butler Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Window features
Blinds
Interior features
CeilingFans, EatInKitchen, GraniteCounters, ProgrammableThermostat, WalkInClosets, WindowTreatments
Exterior features
ConcreteDriveway
Fencing
Privacy
Appliances
Dryer, Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, MicrowaveHoodFan, Microwave, Refrigerator, Washer, PlumbedForIceMaker
Subdivision
Ab Neals Add
Lot features
Central Business District, City Lot, Level, Near Park
Elementary school district
Prairie Grove
Middle school district
Prairie Grove
High school district
Prairie Grove
Directions
From Buchanan St (Hwy 62) in downtown Prairie Grove, go south on Mock St, then right (west) on Butler St. Property is on the right.
Standard status
Active
APN
805-19528-001
Size
3,291 SF
Lot size
0.26 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
Lot 2 Blk 6 A.B. Neals Add
Tax Annual Amount
545
Legal Description
Lot 2 Blk 6 A.B. Neals Add
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Number of units
3
Flooring type
Simulatedwood, Laminate
Building materials
Brick
Roof type
Shingle
Buildings
1
Listing Agency:
Legend Realty Inc
(479) 267-5911
Listed By:
Neil Adams · License #EB00071885
(479) 871-6045
Added: Oct 21
Changed: Oct 24
Last Checked: Oct 26 at 8:06AM
MLS# 1365889
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.
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Investment Insights
Based on property information with market context.
Completed in 2025, this brick triplex contains three residences totaling 3,291 square feet on a 0.258-acre lot. Each unit measures 1,097 square feet and has three bedrooms, two bathrooms, central heating and cooling, and all-electric systems. Interior finishes include simulated wood and laminate flooring, granite counters, walk-in closets, and ceiling fans. Each residence is equipped with a washer, dryer, refrigerator, and microwave, along with a dishwasher and electric range.
The property sits across the street from Prairie Grove Aquatic Park and ball fields, with downtown within walking distance. A concrete driveway and privacy fencing are among the exterior features.
The property sits across the street from Prairie Grove Aquatic Park and ball fields, with downtown within walking distance. A concrete driveway and privacy fencing are among the exterior features.
Key Highlights
- Three‑unit brick property built in 2025
- 3,291 square feet total on a 0.258‑acre lot
- Each residence is 1,097 square feet with 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,617
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,340
$592.3K
Cap Rate 7%
$423,100
$423.1K
Cap Rate 9%
$329,078
$329.1K
Market Conditions
NOI Build-Up for 3,291 SF
Gross rent
$45.4K $13.80/SF
− Vacancy
−$3.1K −$0.94/SF
EGI
$42.3K $12.86/SF
− OpEx
−$12.7K −$3.86/SF
NOI
$29.6K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,340
Cap Rate 7%
$423,100
Cap Rate 9%
$329,078
Alternative Uses
Best Use
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,617 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$374.3K
$327.6K – $436.7K
NOI $26,204 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$883.4K
$772.9K – $1.03M
NOI $61,835 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
Explore this area
Business Placement
Demographics for 72753, AR
10,525
Population
4,078
Households
2.6
Avg Household Size
37
Median Age
20%
College-Educated
92%
High-School Grad
89.2 sq mi
ZIP Area
118
Density / Sq Mi
$64,701
Median Household Income
$40,264
Median Earnings
$911
Median Rent
$227,900
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 Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences feature all-electric service and in-unit laundry appliances.
Where is this triplex located?
The property is located at 312 W Butler Street Prairie Grove, AR.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three‑unit brick property built in 2025; 3,291 square feet total on a 0.258‑acre lot; Each residence is 1,097 square feet with 3 bedrooms and 2 bathrooms
