Flex Space With RV
For Sale
$146,000
7 Lewis Drive, Damascus, AR 72039
Commercial / Industrial, Damascus, AR
Property Size1,800 SF
Price / SF$81.11
Days on Market10
Property Features for 7 Lewis Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Security features
Security System, Security
Interior features
Ceiling Fans, In-Unit Bathroom, Security System, Stairs
Exterior features
Fully Fenced, Outside Storage Area, Storm Cellar, Pole Sign, Wheelchair Accessible, Video Surveillance, Security, Under Pinning, Additional Outbuildings
Fencing
Full
Accessibility
Accessible Approach with Ramp
Lot features
Level, Rural Property, Cleared, City Lot
Directions
Just off of HYW 65 in Damascus 72039 7 Lewis DR. South Side
Subdivision
SOUTHSIDE SCHOOL DISTRICT (FAULK
Standard status
Active
Size
1,800 SF
Taxes and HOA fees
Tax Description
Lot 2 BLK 3 Town
Tax Annual Amount
373
Legal Description
Lot 2 BLK 3 Town
Amenities
safe room/storm shelter
covered carport
RV hookups
Building Details
Year built
2020
Floors in Building
1
Roof type
Metal
Additional Structures
Outbuilding, Storage
Listing Agency:
Arkansas Mountain Real Estate
(501) 745-2296
Listed By:
Kimberly Holland
(501) 654-4116
Added: Sep 25
Changed: Sep 30
Last Checked: Oct 4 at 6:06PM
MLS# 26039288
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2020, this 1,800-square-foot flex space measures 30 by 60 feet and includes an in-unit bathroom and storm shelter. A metal roof, two RV hookups, and a covered carport add to the property’s existing improvements. The site is fully fenced and includes an outside storage area and additional outbuildings.
Security features include a security system and video surveillance. An accessible approach with a ramp provides access to the property.
Security features include a security system and video surveillance. An accessible approach with a ramp provides access to the property.
Key Highlights
- 1,800‑square‑foot building measuring 30 by 60 feet
- Two RV hookups
- Covered carport
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
$10,931
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
7.49%
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%
$218,620
$218.6K
Cap Rate 7%
$156,157
$156.2K
Cap Rate 9%
$121,456
$121.5K
Market Conditions
NOI Build-Up for 1,800 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
$17.9K $9.96/SF
− Vacancy
−$1.1K −$0.62/SF
EGI
$16.8K $9.34/SF
− OpEx
−$5.9K −$3.27/SF
NOI
$10.9K $6.07/SF
Area
Faulkner County, AR
Vacancy
6.20%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$218,620
Cap Rate 7%
$156,157
Cap Rate 9%
$121,456
Alternative Uses
Best Use
Flex RnD
$156.2K
$136.6K – $182.2K
NOI $10,931 @ 7.0% cap · market cap 7.49%
Second Best
Warehouse
$117.5K
$102.8K – $137.1K
NOI $8,225 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$410.6K
$359.2K – $479.0K
NOI $28,739 @ 7.0% cap · market cap 19.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72039, AR
2,254
Population
944
Households
2.4
Avg Household Size
40
Median Age
16%
College-Educated
89%
High-School Grad
61.1 sq mi
ZIP Area
37
Density / Sq Mi
$59,018
Median Household Income
$37,792
Median Earnings
$974
Median Rent
$147,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Amigo Loco Mexican Restaurant — 82 S Broadway St 65 South, Damascus, AR 72039
Frequently Asked Questions
What type of property is this?
Flex space - A fenced, accessible property with a covered carport, storm shelter, and on-site security features.
Where is this flex space located?
The property is located at 7 Lewis Drive Damascus, AR.
What is the asking price?
The asking price for this property is $146,000.
What are key features of this property?
This property features: 1,800‑square‑foot building measuring 30 by 60 feet; Two RV hookups; Covered carport
