O-1 Zoned Commercial
New
For Sale
$500,000
3851 McRay Avenue, Springdale, AR 72762
CommercialSale, Springdale, AR
Property Size1,620 SF
Lot Size1.64 Acres
Price / SF$308.64
Days on Market2
Property Features for 3851 McRay Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Traveling North on I-49, Take exit 73 onto Elm Springs Road, Turn left onto Elm Springs Road, Turn right onto 40th Street, Turn Left onto McRay Ave, in 450 ft 3851 Mcray is on the left.
Standard status
Active
APN
815-29028-230
Size
1,620 SF
Lot size
1.64 Acres
Taxes and HOA fees
Tax Description
PT E/2 NW NW NW 0.85 AC FURTHER DESCRIBED FROM 2020-38465 AS: PART OF THE EAST HALF OF THE NORTHWEST QUARTER OF THE FRACTIONAL NORTHWEST QUARTER OF THE FRACTIONAL NORTHWEST QUARTER OF SECTION 3, TOWNSHIP 17 NORTH, RANGE 30 WEST, WASHINGTON COUNTY, AR KANS
Tax Annual Amount
354
Legal Description
PT E/2 NW NW NW 0.85 AC FURTHER DESCRIBED FROM 2020-38465 AS: PART OF THE EAST HALF OF THE NORTHWEST QUARTER OF THE FRACTIONAL NORTHWEST QUARTER OF THE FRACTIONAL NORTHWEST QUARTER OF SECTION 3, TOWNSHIP 17 NORTH, RANGE 30 WEST, WASHINGTON COUNTY, AR KANS
Building Details
Year built
1985
Listing Agency:
Genesis Commercial Real Estate
(479) 200-1112
Listed By:
Britnee Stearman · License #SA00084920
(816) 888-9618
Added: Nov 3
Last Checked: Nov 4 at 7:06AM
MLS# 1367044
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1.64-acre commercial land parcel is zoned O-1 (Neighborhood Office) and includes a 1,620-square-foot building constructed in 1985. The zoning supports professional and medical office uses, as well as duplex, townhome, and single-family residential development.
Key Highlights
- 1.64‑acre parcel
- O‑1 (Neighborhood Office) zoning
- Existing 1,620‑square‑foot building, constructed in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,459
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$489,180
$489.2K
Cap Rate 7%
$349,414
$349.4K
Cap Rate 9%
$271,767
$271.8K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$35.0K $21.60/SF
− Vacancy
−$2.4K −$1.47/SF
EGI
$32.6K $20.13/SF
− OpEx
−$8.2K −$5.03/SF
NOI
$24.5K $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 Rate 5%
$489,180
Cap Rate 7%
$349,414
Cap Rate 9%
$271,767
Alternative Uses
Best Use
Office B
$349.4K
$305.7K – $407.7K
NOI $24,459 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.8K
$380.5K – $507.3K
NOI $30,438 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 72762, AR
42,175
Population
17,270
Households
2.4
Avg Household Size
36
Median Age
33%
College-Educated
85%
High-School Grad
58.1 sq mi
ZIP Area
726
Density / Sq Mi
$80,678
Median Household Income
$42,066
Median Earnings
$1,118
Median Rent
$278,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Commercial land - The site permits neighborhood-office uses and a range of residential development options under its O-1 zoning.
Where is this commercial land located?
The property is located at 3851 McRay Avenue Springdale, AR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1.64‑acre parcel; O‑1 (Neighborhood Office) zoning; Existing 1,620‑square‑foot building, constructed in 1985
