Building Details

Year Built 1976

Listing Agency: LPT Realty Conway

Listed By: Robin Jones Show Phone

Source: Pcsingtolittlerock

Added: Jul 27 Changed: Oct 6 Last Checked: Oct 7 at 5:47PM

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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

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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.

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 / Yr

$22,047

Cap Rate

5.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,940 $440.9K

Cap Rate 7%

$314,957 $315.0K

Cap Rate 9%

$244,967 $245.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,758 SF

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 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 (±1% cap)

NOI $22,047 @ 7.0% cap · market cap 5.58%

Second Best

Flex RnD

$152.5K

$133.5K – $177.9K (±1% cap)

NOI $10,676 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$401.0K

$350.9K – $467.8K (±1% cap)

NOI $28,069 @ 7.0% cap · market cap 7.11%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Building Supply Restaurant Parking Lot & Garage HVAC Service Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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