Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Retail Location For Sale Title is generated by Realmo AI

    604 N Center St, Lonoke, AR 72086

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime business location with an 8,000 sq. ft. building.

    Type:Business for Sale, Land, Retail
    Property size:
    7,996 SF
    Price / SF:
    $62/SF
    Added:
    Sep 24, 2024
    Days on Market:
    605
    Last Refresh:
    May 13 at 8:15 pm

    Property Features for 604 N Center St

    General Information

    Standard status
    Active
    Size
    7,996 SF
    Property subtype
    Business for Sale, Land, Retail

    Building Details

    Year Built
    2012

    We can help!

    Listing Contact
    Suzette Elmore

    Listing agent Suzette Elmore License #AR SA00059275

    Listing office Berkshire Hathaway HomeServices Little Rock

    Listing date Sep 24, 2024

    Source Crexi

    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 Berkshire Hathaway HomeServices Little Rock

    HighLights

    • Prime business location between I‑40 and the downtown business district (near the county courthouse).
    • 8,000 sq. ft. metal building with insulated roof and walls.
    • Includes an additional corner lot on the same city block.
    • Suitable for a national chain or other retail business.
    • Former True Value Hardware store location.
    • Building constructed in 2012.

    Overview

    This property presents a rare opportunity to acquire a prime business location featuring an 8,000 sq. ft. metal building, along with an additional lot on the same city block. The building includes insulated roof and walls. The property was formerly a True Value Hardware store. The current displays, inventory, and equipment could possibly be purchased as well. This location is suitable for a national chain or other retail business. The property is situated between I-40 and the downtown business district, which includes the county courthouse. Both parcels are included in the sale, and both are corner lots. The property size is 7,996 sqft.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • M & M Florist — 1515 N Center St #3, Lonoke, AR 72086

    Location Insight

    • Map
    • Local Demand
    City
    Lonoke
    County
    Lonoke
    State
    Arkansas
    Longitude
    -91.90064
    Latitude
    34.77867

    Nearby Similar for Sale

    • $150,000
      3,210 SF

      Downtown Lonoke Retail/Office Building

      Renovated retail/office building in downtown Lonoke, move-in ready.
      117 E Front Street, Lonoke, AR 72086
      View Details
    • $615,000
      4,418 SF

      New Construction Triplex in Lonoke

      New construction triplex with three beds and two and a half baths.
      410, 412, 414 England Street, Lonoke, AR 72086
      View Details
    • $2,500,000
      5,000 SF

      Turnkey Restaurant in Lonoke, AR

      Award-winning, fully equipped restaurant in a renovated historic building.
      105 W Front Street, Lonoke, AR 72086
      View Details
    • $199,900
      5,000 SF

      Commercial Retail Building in Lonoke

      Commercial retail building with great exposure and endless possibilities.
      405 N Center Street, Lonoke, AR 72086
      View Details
    • $24,000
      41,817 SF

      Commercial Land in Lonoke, AR

      Commercial land with utilities available near I-40 in Lonoke.
      Lot 29 JF Boulevard, Lonoke, AR 72086
      View Details
    • $22,750
      39,639 SF

      Commercial Land Near I-40

      Commercial land with utilities available, near I-40 and businesses.
      Lot 31 JF Boulevard, Lonoke, AR 72086
      View Details
    • $26,750
      46,609 SF

      Lonoke Commercial Land Opportunity

      Commercial land available in Lonoke, near I-40 and amenities.
      LOT 32 JF Boulevard, Lonoke, AR 72086
      View Details
    • $25,750
      44,866 SF

      Commercial Land Near I-40

      Commercial land available off I-40 in Lonoke, Arkansas.
      Lot 27 JF Boulevard, Lonoke, AR 72086
      View Details
    • $93,000
      2,460 SF

      Lonoke Commercial Building and Land

      2,400 SF building on 0.36 acres in Lonoke, Arkansas.
      220 Depot Street, Lonoke, AR 72086
      View Details
    • $26,250
      45,738 SF

      Commercial Land Near I-40

      Commercial land with utilities available near I-40 in Lonoke, AR.
      Lot 34 JF Boulevard, Lonoke, AR 72086
      View Details
    • $22,500
      39,204 SF

      Commercial Land Near I-40

      Commercial land with utilities available, near I-40 and hotels.
      Lot 33 JF Boulevard, Lonoke, AR 72086
      View Details
    • $25,750
      44,866 SF

      Lonoke Commercial Land Opportunity

      Commercial land available in Lonoke, Arkansas, near I-40.
      Lot 28 JF Boulevard, Lonoke, AR 72086
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime business location with an 8,000 sq. ft. building.
    Where is this storefront property located?
    The property is located at 604 N Center St Lonoke, AR.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime business location between I‑40 and the downtown business district (near the county courthouse).; 8,000 sq. ft. metal building with insulated roof and walls.; Includes an additional corner lot on the same city block.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Suzette Elmore
    Real Estate License ID: AR SA00059275
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    604 N Center St, Lonoke, AR 72086
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!