Residential Development Opportunity in
For Sale
$699,900
525 Central Landing Blvd, Conway, AR
R-2 zoned property suitable for duplex development in Conway.
Property Size3,000 SF
Price / SF$233.30
Days on Market80
Property Features for 525 Central Landing Blvd
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$1,426
Listing Agency:
Century 21 Parker & Scroggins Realty - Conway
(501) 908-5250
Listed By:
Christopher White
(501) 908-5250
Source:
Exprealty
Added: May 25
Changed: Aug 8
Last Checked: Jul 15 at 9:15PM
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 Century 21 Parker & Scroggins Realty - Conway
Investment Insights
Based on property information with market context.
This R-2 zoned property presents an opportunity for residential development in Conway. The zoning permits duplex development, making it suitable for investors or developers aiming to expand their residential portfolio with income-producing potential. The property is located near Conway’s new community center, a public investment that attracts activity, amenities, and long-term neighborhood demand. Additionally, the site is minutes from shopping, restaurants, and everyday conveniences, providing future residents with access to essential services and lifestyle amenities. The surrounding development, nearby public infrastructure investment, and proximity to commercial services support the site’s suitability for residential use. With utilities available in the area and zoning already in place, this property is a prime opportunity for duplex development in an established and growing market. Its combination of zoning, location, and access makes it an option for developers seeking a strategically positioned asset with long-term value and portfolio growth potential. The property size is 3000 square feet.
Key Highlights
- R‑2 zoning allows for duplex development, ideal for investors seeking income‑producing property.
- Located near Conway's new community center, a major public investment driving neighborhood demand.
- Minutes from shopping, restaurants, and everyday conveniences.
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
$20,180
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
2.88%
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%
$403,600
$403.6K
Cap Rate 7%
$288,286
$288.3K
Cap Rate 9%
$224,222
$224.2K
Market Conditions
NOI Build-Up for 3,000 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
$30.6K $10.20/SF
− Vacancy
−$1.8K −$0.59/SF
EGI
$28.8K $9.61/SF
− OpEx
−$8.6K −$2.88/SF
NOI
$20.2K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$403,600
Cap Rate 7%
$288,286
Cap Rate 9%
$224,222
Alternative Uses
Best Use
Multifamily LT 5
$288.3K
$252.3K – $336.3K
NOI $20,180 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$257.6K
$225.4K – $300.6K
NOI $18,034 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$684.3K
$598.7K – $798.3K
NOI $47,899 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - R-2 zoned property suitable for duplex development in Conway.
Where is this residential land & home lot located?
The property is located at 525 Central Landing Blvd Conway, AR.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: R‑2 zoning allows for duplex development, ideal for investors seeking income‑producing property.; Located near Conway's new community center, a major public investment driving neighborhood demand.; Minutes from shopping, restaurants, and everyday conveniences.
