Listing Agency: Crye-Leike REALTORS, Gentry

Listed By: Verla Martinec · License #SA00086205 Show Phone

Source: Thebesthomeprice

Added: Jul 27 Changed: Oct 13 Last Checked: Oct 12 at 11:40PM

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Investment Insights

Based on property information with market context.

This 1,264-square-foot storefront property at 605 NW 1st Ave is currently in operation as a beauty salon. Its existing commercial setup supports continued salon use, while the building may also suit other business formats identified by the owner, including retail, boutique, office, or mini flea market operations.

The property fronts Hwy 59 in Gravette, placing the building along a high-traffic commercial corridor with direct highway exposure. The owner is willing to lease the building after closing, creating a potential lease arrangement for a buyer. Some salon equipment may convey with an acceptable offer.

Key Highlights

• 1,264‑square‑foot storefront property
• Located on Hwy 59 in Gravette
• Currently operating as a beauty salon

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,379

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,580 $287.6K

Cap Rate 7%

$205,414 $205.4K

Cap Rate 9%

$159,767 $159.8K

Market Conditions

NOI Build-Up for 1,264 SF

Gross rent

$22.0K $17.40/SF

− Vacancy

−$1.5K −$1.15/SF

EGI

$20.5K $16.25/SF

− OpEx

−$6.2K −$4.88/SF

NOI

$14.4K $11.38/SF

Area

Benton County, AR

Vacancy

6.60%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$287,580

Cap Rate 7%

$205,414

Cap Rate 9%

$159,767

Alternative Uses

Best Use

Retail

$205.4K

$179.7K – $239.7K (±1% cap)

NOI $14,379 @ 7.0% cap · market cap 6.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$347.4K

$303.9K – $405.3K (±1% cap)

NOI $24,315 @ 7.0% cap · market cap 10.35%

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

Property Analytics

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Open Analytics

Current Use

The Meatin' Place Restaurant Hillcrest Cemetery Cemetery Permanent Cosmetic’s by ... Medical Clinic Savy Skin Hair Salon ATM Machine at Blended ... Atm

Suggested Use

Top Pick Building Supply Dental Office Real Estate Agency Auto Repair Shop Storage Facility Law Firm

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

256

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 72736, AR

7,046

Population

2,682

Households

2.6

Avg Household Size

38

Median Age

24%

College-Educated

88%

High-School Grad

98.5 sq mi

ZIP Area

72

Density / Sq Mi

$73,565

Median Household Income

$43,892

Median Earnings

$1,012

Median Rent

$277,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Currently operating as a beauty salon with potential for continued commercial use.

Where is this storefront property located?

The property is located at 605 NW 1st Ave Gravette, AR.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: 1,264‑square‑foot storefront property; Located on Hwy 59 in Gravette; Currently operating as a beauty salon