Corner Mixed-Use
For Sale
$280,000
3714 E Heritage Parkway, Farmington, AR 72730
CommercialSale, Farmington, AR
Property Size1,642 SF
Lot Size0.32 Acres
Price / SF$170.52
Days on Market112
Property Features for 3714 E Heritage Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot, City Lot
Directions
Highway 62 West through Farmington. Home on the North side of the road. GPS works.
Standard status
Active
APN
805-20326-200
Size
1,642 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
ANNEXED TO CITY OF PRAIRIE GROVE FOR 2006 & FOLLOWING YEARS PER ANNEXATION ORDINACE NO. 2006-15
Tax Annual Amount
1680
Legal Description
ANNEXED TO CITY OF PRAIRIE GROVE FOR 2006 & FOLLOWING YEARS PER ANNEXATION ORDINACE NO. 2006-15
Building Details
Year built
1957
Listing Agency:
Collier & Associates - Farmington Branch
(479) 274-0977
Listed By:
DLT Properties Team
(512) 497-3643
Added: Jun 16
Changed: Sep 22
Last Checked: Oct 5 at 3:06AM
MLS# 1352221
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 1,642-square-foot commercial property was built in 1957 and occupies a 0.32-acre site. An income-producing tenant is already in place, while Mixed Use B-2 zoning accommodates a range of commercial and mixed-use possibilities. Paved parking is included with the property.
The site occupies a visible corner at Buddy Elkins Road and Highway 62, where Buddy Elkins Road has recently been paved. Reported traffic volume is approximately 20,000 vehicles per day, providing substantial exposure along the corridor. The property carries a Farmington mailing address and lies within the Prairie Grove city limits.
The site occupies a visible corner at Buddy Elkins Road and Highway 62, where Buddy Elkins Road has recently been paved. Reported traffic volume is approximately 20,000 vehicles per day, providing substantial exposure along the corridor. The property carries a Farmington mailing address and lies within the Prairie Grove city limits.
Key Highlights
- 1,642‑square‑foot commercial property on a 0.32‑acre site
- Mixed Use B‑2 zoning
- Income‑producing tenant already in place
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
$11,428
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
4.08%
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%
$228,560
$228.6K
Cap Rate 7%
$163,257
$163.3K
Cap Rate 9%
$126,978
$127.0K
Market Conditions
NOI Build-Up for 1,642 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
$19.7K $12.00/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$18.3K $11.14/SF
− OpEx
−$6.9K −$4.18/SF
NOI
$11.4K $6.96/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$228,560
Cap Rate 7%
$163,257
Cap Rate 9%
$126,978
Alternative Uses
Best Use
Mixed Use
$163.3K
$142.9K – $190.5K
NOI $11,428 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$440.7K
$385.7K – $514.2K
NOI $30,852 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 72730, AR
9,624
Population
4,017
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
463
Density / Sq Mi
$88,780
Median Household Income
$45,652
Median Earnings
$1,225
Median Rent
$244,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-2 mixed-use zoning, paved parking, and an existing income-producing tenant define this commercial property.
Where is this mixed-use property located?
The property is located at 3714 E Heritage Parkway Farmington, AR.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,642‑square‑foot commercial property on a 0.32‑acre site; Mixed Use B‑2 zoning; Income‑producing tenant already in place
