Corner Mixed-Use
For Sale
$299,000
3714 E Heritage Parkway, Farmington, AR 72730
B-2 zoning, paved parking, and an established tenant support this corner-location commercial property.
Property Size1,642 SF
Price / SF$182.10
Days on Market77
Property Features for 3714 E Heritage Parkway
General Information
Standard status
Active
Size
1,642 SF
Property subtype
Commercial/Industrial
Zoning
Mixed Use B-2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,680
Building Details
Year Built
1957
Tenancy
Single
Listing Agency:
Collier & Associates - Farmington Branch
(512) 497-3643
Listed By:
DLT Properties Team
(512) 497-3643
Source:
Exitrealty
Added: Jun 17
Changed: Aug 31
Last Checked: Aug 31 at 5:29PM
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 Collier & Associates - Farmington Branch
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.
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 = 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
3.82%
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 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$440.7K
$385.7K – $514.2K
NOI $30,852 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $299,000.
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
