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    Property profile & analytics

    600 Skyline Dr Conway, AR 72032-3519

    • Turn key restaurants
    • 8,364 SF
    • 1.99 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2022
    $3,025,000
    Value Estimations
    $2,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0411543
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • MarketPlace Grill / Restaurant

    Property Details for 600 Skyline Dr

    Year built
    2000
    Lot size
    1.99 lot acres
    Property size
    8,364 SF
    Property type
    Turn key restaurants
    APN
    710-08187-001C
    APU
    71008187001C

    Description

    This exceptional investment opportunity presents a fee-simple ownership of a thriving Marketplace Grill restaurant in Conway, Arkansas. The property boasts a 6,364 square foot building situated on a 3.67-acre lot, with an additional 1.68 acres available for future development. The current tenant, Marketplace Grill, operates under a triple-net (NNN) lease with a corporate guarantee, commencing November 13, 2018, and expiring July 1, 2032. This lease includes three renewal options and features a 1% annual rent increase. The property generates a substantial net operating income (NOI) of $223,865, resulting in a compelling 6.58% cap rate. The restaurant has a proven track record, reporting $2.49 million in sales during fiscal year 2023 and enjoying over 25 years of operation at this location. Its prime location on Skyline Drive, a major retail artery with over 31,000 vehicles daily, places it within a thriving retail corridor alongside prominent national brands such as Walmart, Lowe's, Cinemark, Starbucks, and Harbor Freight. The property's strategic position benefits from Conway's robust population growth (nearly 10% in the last decade) and high consumer spending on food and alcohol ($100M within a 3-mile radius). A recently signed long-term billboard lease adds further income potential. The asking price for this exceptional property is $3,400,000. The property's APN is 71008187001C.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,800,000
      ML approach
      $2,750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,080,000
      Market price range: $2.19M - $5.29M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4333
    Latitude
    35.113
    CBSA code
    30780
    CBSA name
    LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,213
    $117,220
    $163,660
    $280,880
    -
    $586,100
    $818,300
    $1,404,400

    Comparable in this City

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      1111 Oak St

      RESTAURANT • 5,826 SF
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    • Value Estimation
      $275,000
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      2490 Sanders Rd

      RESTAURANT • 5,662 SF
      2490 Sanders Rd, Conway, AR 72032-2832
      View Details
    • Value Estimation
      $240,000
      4,045 SF

      1141 Harkrider St

      RESTAURANT • 4,045 SF
      1141 Harkrider St, Conway, AR 72032
      View Details
    • Value Estimation
      $980,000
      3,532 SF

      2465 850th Alfor St

      RESTAURANT • 3,532 SF
      2465 850th Alfor St, Conway, AR 72032
      View Details
    • Value Estimation
      $2,250,000
      7,226 SF

      1170 Amity Rd

      RESTAURANT • 7,226 SF
      1170 Amity Rd, Conway, AR 72032-8090
      View Details

    Similar Nearby for Sale

    • $2,968,682

      New Restaurant with Drive-Thru

      New restaurant with drive-thru, immediate I-40 access, near university.
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    • $1,850,000
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      Versatile Property in Conway, AR

      Adaptable property suitable for retail, office, industrial, or flex space.
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      6,652 SF Retail Space in Prime Location
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    • $2,083,333
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      NNN Leased Retail Investment

      Retail property with long-term absolute NNN lease.
      175 E Oak St, Conway, AR 72032
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    • Contact for pricing
      0.03 Acres

      Prime Conway Hwy 65 N Lot

      Affordable Conway Commercial Land
      287 Highway 65, Conway, AR 72032
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    • $630,000
      6.63 Acres

      Prime Conway Land - 6.63 Acres

      Exceptional development opportunity in Conway, AR. 6.63 acres of land with high potential.
      Highway 365, Conway, AR 72032
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    Similar Nearby for Lease

    • $15 SF/Yr
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      Conway Restaurant - Prime Location

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      2310 Sanders St, Conway, AR 72032
      View Details
    • $15 SF/Yr
      6,254 SF

      Restaurant Space Near Interstate

      6,254 SF restaurant space with bar area available.
      2310 Sanders Rd, Conway, AR 72032
      View Details
    • Contact for pricing
      274,596 SF

      Conway Towne Centre Retail Space

      Prime Conway retail, multiple suites available.
      201 Skyline Dr, Conway, AR 72032
      View Details
    • $3,250 /Mo
      4,372 SF

      Versatile Commercial Property in Conway

      Flexible office, shop, and storage space with fenced lot.
      567 Highway 65 E, Conway, AR 72032
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    • $16 SF/Yr
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      Conway Retail Center - Prime Location

      High-traffic shopping center with 9,000 SF available.
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      View Details
    • $12 SF/Yr
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      Conway Retail/Office Opportunity

      Prime Conway location, flexible space available.
      1080 La Ln, Conway, AR 72032
      View Details
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    600 Skyline Dr
    Conway, AR 72032-3519
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    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
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