Corner Automotive Property with Two
For Sale
$165,000
918 E Race Ave, Searcy, AR 72143
Separate commercial spaces each include a kitchen and bathroom, with the building previously serving automotive operations.
Property Size1,260 SF
Lot Size0.34 Acres
Price / SF$130.95
Days on Market10
Property Features for 918 E Race Ave
General Information
Standard status
Active
Size
1,260 SF
Lot size
0.34 Acres
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$777
Amenities
kitchen
bathroom
Building Details
Buildings
1
Listing Agency:
RE/MAX Advantage
(501) 268-1115
Listed By:
Stuart Greer · License #17
(501) 281-6338
Source:
Exprealty
Added: Sep 4
Changed: Sep 12
Last Checked: Sep 13 at 12:45PM
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 RE/MAX Advantage
Investment Insights
Based on property information with market context.
This automotive property includes an older church building configured as 2 separate commercial units. Each unit has its own kitchen and bathroom, creating distinct interior layouts within the existing structure. The property has operated as a car lot for almost 20 years.
The site occupies the corner of Race and Walnut in Searcy, Arkansas, at 918 E Race Ave. The lot is approximately 150 x 100, providing a substantial outdoor area associated with the building and its prior automotive use. The property size is listed as 1,260.
The site occupies the corner of Race and Walnut in Searcy, Arkansas, at 918 E Race Ave. The lot is approximately 150 x 100, providing a substantial outdoor area associated with the building and its prior automotive use. The property size is listed as 1,260.
Key Highlights
- Corner location at Race and Walnut in Searcy, Arkansas
- Existing building configured as 2 separate units
- Each unit includes a kitchen and bathroom
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
$9,949
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
6.03%
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%
$198,980
$199.0K
Cap Rate 7%
$142,129
$142.1K
Cap Rate 9%
$110,544
$110.5K
Market Conditions
NOI Build-Up for 1,260 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
$15.1K $12.00/SF
− Vacancy
−$907 −$0.72/SF
EGI
$14.2K $11.28/SF
− OpEx
−$4.3K −$3.38/SF
NOI
$9.9K $7.90/SF
Area
White County, AR
Vacancy
6.00%
Lease Rate
$12.00 /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%
$198,980
Cap Rate 7%
$142,129
Cap Rate 9%
$110,544
Alternative Uses
Best Use
Retail
$142.1K
$124.4K – $165.8K
NOI $9,949 @ 7.0% cap · market cap 6.03%
Second Best
Industrial
$67.7K
$59.3K – $79.0K
NOI $4,742 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$230.4K
$201.6K – $268.8K
NOI $16,130 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
45k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 83%
Shops & Services 17%
Wendy's
Dining
17,883 visits/mo
0.4 miles
Captain D's
Dining
6,054 visits/mo
0.4 miles
Firehouse Subs
Dining
5,321 visits/mo
0.3 miles
AutoZone
Shops & Services
3,937 visits/mo
0.4 miles
Starbucks
Dining
3,136 visits/mo
0.4 miles
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 1001 E Beebe Capps Expy Expwy, Searcy, AR 72143
- Searcy U Storage — 1001 E Beebe Capps Expy, Searcy, AR 72143
- A&W works — 2211 E Race Ave, Searcy, AR 72143
- Enterprise Rent-A-Car — 2204 E Race Ave, Searcy, AR 72143
Frequently Asked Questions
What type of property is this?
Automotive property - Separate commercial spaces each include a kitchen and bathroom, with the building previously serving automotive operations.
Where is this automotive property located?
The property is located at 918 E Race Ave Searcy, AR.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Corner location at Race and Walnut in Searcy, Arkansas; Existing building configured as 2 separate units; Each unit includes a kitchen and bathroom
