Building Details

Year built 2008

Floors in Building 1

Listing Agency: Moses Tucker Partners Show Phone

Listed By: Clint Bailey · License #SA00073895 Show Phone

Added: Nov 17, 2025 Changed: Oct 5 Last Checked: Oct 5 at 2:06PM

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MLS# 26012225

Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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 12,794-square-foot flex property, built in 2008, combines office areas with an open-span warehouse. The office component includes 11 offices, a conference room, a training center, and five bathrooms; two bathrooms have showers. An Avigilon security system covers the facility.

The property occupies 1.21 acres at 980 Runway Drive in Conway, along the Interstate 40 corridor. The Conway Community Center and other amenities are nearby. I-3 Intensive Industrial zoning supports a range of industrial uses.

Key Highlights

• 12,794 square feet on 1.21 acres
• 11 offices, a conference room, and a training center
• Five bathrooms, including two with showers

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

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.

Property Analytics

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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.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

237

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - I-3 zoning accommodates a range of intensive industrial uses.

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 square feet on 1.21 acres; 11 offices, a conference room, and a training center; Five bathrooms, including two with showers