Mixed-Use Zoned Commercial
For Sale
$209,000
9 Nicholes ST, Central City, AR 72941
Commercial, Central City, AR
Property Size1,431 SF
Lot Size0.99 Acres
Price / SF$146.05
Days on Market86
Property Features for 9 Nicholes ST
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
East on Rogers Avenue/Hwy 22
Standard status
Active
APN
63532-0010-00001-00
Size
1,431 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Description
LTS 1 THUR 10, BLK 1
Legal Description
LTS 1 THUR 10, BLK 1
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Johnson Realty Group
(479) 434-3000
Added: Jun 1
Changed: Aug 24
Last Checked: Aug 25 at 6:06PM
MLS# 1089376
Copyright © 2026 Western River Valley Board of REALTORS®. 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.
This almost 1-acre property offers flexible use with zoning that can support commercial or residential development. The site includes an existing home with a concrete slab where anchors are attached, upgraded fiberglass insulation, and a metal roof. Inside, the home features three bedrooms and two bathrooms, along with a kitchen open to the main living area.
The property is described as highly visible along Hwy 22, with an estimated 11,000 to 16,000 vehicles passing by each day. Additional outdoor amenities include a fenced yard and a large covered deck.
Whether you plan to open a business in the current structure or build your own improvements, the combination of mixed-use zoning and on-site improvements provides a straightforward path to customize the site at 9 Nicholes ST in Central City, AR 72941.
The property is described as highly visible along Hwy 22, with an estimated 11,000 to 16,000 vehicles passing by each day. Additional outdoor amenities include a fenced yard and a large covered deck.
Whether you plan to open a business in the current structure or build your own improvements, the combination of mixed-use zoning and on-site improvements provides a straightforward path to customize the site at 9 Nicholes ST in Central City, AR 72941.
Key Highlights
- Almost 1‑acre property on Hwy 22 with zoning that can be commercial or residential
- Highway‑fronted location with 11,000–16,000 cars passing by per day
- Existing home features 3 bedrooms, 2 bathrooms, and a kitchen open to the main living 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
$8,474
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
4.05%
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%
$169,480
$169.5K
Cap Rate 7%
$121,057
$121.1K
Cap Rate 9%
$94,156
$94.2K
Market Conditions
NOI Build-Up for 1,431 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
$16.7K $11.64/SF
− Vacancy
−$1.2K −$0.87/SF
EGI
$15.4K $10.77/SF
− OpEx
−$6.9K −$4.85/SF
NOI
$8.5K $5.92/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$169,480
Cap Rate 7%
$121,057
Cap Rate 9%
$94,156
Alternative Uses
Best Use
Apartment 5plus
$121.1K
$105.9K – $141.2K
NOI $8,474 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$304.5K
$266.4K – $355.2K
NOI $21,312 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,000 VPD
Traffic count
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 72941, AR
5,079
Population
2,043
Households
2.5
Avg Household Size
41
Median Age
16%
College-Educated
93%
High-School Grad
43.4 sq mi
ZIP Area
117
Density / Sq Mi
$77,292
Median Household Income
$37,540
Median Earnings
$889
Median Rent
$159,600
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Nearly one-acre lot with commercial or residential zoning, including a concrete-slab home and fenced yard.
Where is this commercial land located?
The property is located at 9 Nicholes ST Central City, AR.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Almost 1‑acre property on Hwy 22 with zoning that can be commercial or residential; Highway‑fronted location with 11,000–16,000 cars passing by per day; Existing home features 3 bedrooms, 2 bathrooms, and a kitchen open to the main living area
