Building Details

Tenancy Single

Listing Agency: Collier & Associates - Farmington Branch Show Phone

Listed By: DLT Properties Team Show Phone

Source: Connectrealtynwa

Added: Jul 3 Changed: Oct 12 Last Checked: Oct 19 at 6:20AM

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Investment Insights

Based on property information with market context.

This mixed-use property was built in 1957 and is currently occupied by an income-producing tenant. The property is zoned Mixed Use B-2 and includes paved parking, supporting its existing commercial operation and potential future use flexibility.

The site occupies a visible corner at Buddy Elkins Road and Highway 62, with approximately 20,000 vehicles passing daily. Buddy Elkins Road has recently been paved, and the property is positioned within the Prairie Grove city limits while carrying a Farmington mailing address. Its location provides direct access to a growing commercial corridor.

Key Highlights

• Mixed Use B‑2 zoning
• Income‑producing tenant in place
• Corner location at Buddy Elkins Road and Highway 62

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,428

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$228,560 $228.6K

Cap Rate 7%

$163,257 $163.3K

Cap Rate 9%

$126,978 $127.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,642 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $30,852 @ 7.0% cap · market cap 11.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Electrical Service Plumbing Service (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

41

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 zoning, paved parking, and an established tenant support this corner-location 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: Mixed Use B‑2 zoning; Income‑producing tenant in place; Corner location at Buddy Elkins Road and Highway 62