Building Details

Building Size 12,794 SF

Year Built 2008

Listing Agency: Moses Tucker Partners

Listed By: Clint Bailey · License #SA00073895 Show Phone

Source: Dillrealestate

Added: Mar 31 Changed: Oct 27 Last Checked: Oct 30 at 1:36AM

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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 Moses Tucker Partners

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Investment Insights

Based on property information with market context.

This 12,794-square-foot flex industrial property, built in 2008, combines an open-span warehouse with two office suites. The office component includes 11 offices, a conference room, and a training center, along with five bathrooms. An Avigilon security system provides coverage throughout the facility.

The property is in Conway along the Interstate 40 corridor and is zoned I-3 Intensive Industrial. The stated potential applications include distribution, light manufacturing, and service operations. The Conway Community Center and other amenities are nearby.

Key Highlights

• 12,794 SF flex industrial property built in 2008
• Open‑span warehouse with two office suites
• Office component includes 11 offices, a conference room, and a training center

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,693

Cap Rate

4.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,553,860 $1.6M

Cap Rate 7%

$1,109,900 $1.1M

Cap Rate 9%

$863,256 $863.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,794 SF

Gross rent

$127.4K $9.96/SF

− Vacancy

−$7.9K −$0.62/SF

EGI

$119.5K $9.34/SF

− OpEx

−$41.8K −$3.27/SF

NOI

$77.7K $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 Rate 5%

$1,553,860

Cap Rate 7%

$1,109,900

Cap Rate 9%

$863,256

Alternative Uses

Best Use

Flex RnD

$1.11M

$971.2K – $1.29M (±1% cap)

NOI $77,693 @ 7.0% cap · market cap 4.86%

Second Best

Warehouse

$835.2K

$730.8K – $974.4K (±1% cap)

NOI $58,463 @ 7.0% cap · market cap 3.65%

Theoretical Best

Office A

$2.92M

$2.55M – $3.40M (±1% cap)

NOI $204,272 @ 7.0% cap · market cap 12.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Hair Salon Locksmith Bakery Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

72

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 72032, AR

34,316

Population

14,255

Households

2.4

Avg Household Size

35

Median Age

27%

College-Educated

94%

High-School Grad

114.5 sq mi

ZIP Area

300

Density / Sq Mi

$61,452

Median Household Income

$36,877

Median Earnings

$976

Median Rent

$183,200

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - I-3 zoning and a mix of office, training, and warehouse areas support a range of industrial operations.

Where is this flex space located?

The property is located at 980 Runway Drive Conway, AR.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: 12,794 SF flex industrial property built in 2008; Open‑span warehouse with two office suites; Office component includes 11 offices, a conference room, and a training center