Flex Space with Open-Span
For Sale
$1,600,000
980 Runway Drive, Conway, AR 72032
Commercial / Industrial, Conway, AR
Property Size12,794 SF
Lot Size1.21 Acres
Price / SF$125.06
Days on Market322
Property Features for 980 Runway Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located in the Conway Industrial Park.
Subdivision
CONWAY SOUTHWEST
Standard status
Active
Size
12,794 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6272
Amenities
conference room
training center
showers
security system
Building Details
Year built
2008
Floors in Building
1
Listing Agency:
Moses Tucker Partners
(501) 376-6555
Listed By:
Clint Bailey · License #SA00073895
(501) 358-8280
Added: Nov 17, 2025
Changed: Oct 5
Last Checked: Oct 5 at 9:06AM
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.
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 = 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
$77,693
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
4.86%
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%
$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
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
$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 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%
$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
NOI $77,693 @ 7.0% cap · market cap 4.86%
Second Best
Warehouse
$835.2K
$730.8K – $974.4K
NOI $58,463 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$2.92M
$2.55M – $3.40M
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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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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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
