Flex Space with Outdoor
For Sale
$395,000
42 Ranchette, Conway, AR 72032
Commercial property combines office accommodations with paved parking and substantial land for vehicle or equipment storage.
Property Size1,758 SF
Lot Size5.00 Acres
Price / SF$224.69
Days on Market36
Property Features for 42 Ranchette
General Information
Standard status
Active
Size
1,758 SF
Lot size
5.00 Acres
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1976
Listing Agency:
LPT Realty Conway
(501) 766-3418
Listed By:
Robin Jones
Source:
Pcsingtolittlerock
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 30 at 6:57PM
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 LPT Realty Conway
Investment Insights
Based on property information with market context.
This flex-space property includes a 1,758-square-foot office component, on-site parking, and approximately five acres of usable land. The site is currently operated as a wrecker-service facility and accommodates vehicle, equipment, and fleet storage. An additional structure is also present, offering a separate improvement for renovation into a residence, rental unit, or expanded office area.
Located at 42 Ranchette in Conway, Arkansas, the property was built in 1976. Its combination of enclosed office space, parking, open storage area, and an extra structure supports a range of commercial configurations while retaining room for operational expansion.
Located at 42 Ranchette in Conway, Arkansas, the property was built in 1976. Its combination of enclosed office space, parking, open storage area, and an extra structure supports a range of commercial configurations while retaining room for operational expansion.
Key Highlights
- Approximately five acres of usable land
- 1,758 SF office component
- On‑site parking with vehicle, equipment, and fleet storage area
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
$22,047
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
5.58%
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%
$440,940
$440.9K
Cap Rate 7%
$314,957
$315.0K
Cap Rate 9%
$244,967
$245.0K
Market Conditions
NOI Build-Up for 1,758 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
$32.7K $18.60/SF
− Vacancy
−$3.3K −$1.88/SF
EGI
$29.4K $16.72/SF
− OpEx
−$7.3K −$4.18/SF
NOI
$22.0K $12.54/SF
Area
Faulkner County, AR
Vacancy
10.10%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
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%
$440,940
Cap Rate 7%
$314,957
Cap Rate 9%
$244,967
Alternative Uses
Best Use
Office B
$315.0K
$275.6K – $367.5K
NOI $22,047 @ 7.0% cap · market cap 5.58%
Second Best
Flex RnD
$152.5K
$133.5K – $177.9K
NOI $10,676 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$401.0K
$350.9K – $467.8K
NOI $28,069 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial property combines office accommodations with paved parking and substantial land for vehicle or equipment storage.
Where is this flex space located?
The property is located at 42 Ranchette Conway, AR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately five acres of usable land; 1,758 SF office component; On‑site parking with vehicle, equipment, and fleet storage area
