Multi-Tenant Retail Strip
For Sale
$1,200,000
985 Carson Cove, Conway, AR 72034
Three active leases provide an established income-producing configuration for this retail property.
Property Size6,480 SF
Price / SF$185.19
Days on Market149
Property Features for 985 Carson Cove
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Building and Land
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,614
Building Details
Building Size
6,480 SF
Year Built
1997
Tenancy
Multi
Listing Agency:
Moore and Company Realtors - Conway
Listed By:
Mike Argo
(501) 428-4494
Source:
Dillrealestate
Added: Jun 9
Changed: Nov 2
Last Checked: Nov 4 at 6:55AM
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 Moore and Company Realtors - Conway
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Investment Insights
Based on property information with market context.
This Conway retail strip center contains 6,480 square feet and was built in 1997. Three leases are currently operating, establishing a multi-tenant configuration at the property. It is located at 985 Carson Cove in Conway, Arkansas.
Key Highlights
- 6,480‑square‑foot retail strip center
- Three active leases
- Built in 1997
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,890
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,800
$1.3M
Cap Rate 7%
$912,714
$912.7K
Cap Rate 9%
$709,889
$709.9K
Market Conditions
NOI Build-Up for 6,480 SF
Gross rent
$97.2K $15.00/SF
− Vacancy
−$5.9K −$0.92/SF
EGI
$91.3K $14.09/SF
− OpEx
−$27.4K −$4.23/SF
NOI
$63.9K $9.86/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,800
Cap Rate 7%
$912,714
Cap Rate 9%
$709,889
Alternative Uses
Best Use
Retail
$912.7K
$798.6K – $1.06M
NOI $63,890 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,461 @ 7.0% cap · market cap 8.62%
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
265k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 33%
Shops & Services 17%
Home Improvements & Furnishings 5%
Kroger
Groceries
52,361 visits/mo
0.3 miles
Walmart Neighborhood Market
Groceries
35,224 visits/mo
0.4 miles
Chick-fil-A
Dining
32,996 visits/mo
0.4 miles
McDonald's
Dining
24,666 visits/mo
0.4 miles
SONIC Drive In
Dining
18,007 visits/mo
0.1 miles
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - Three active leases provide an established income-producing configuration for this retail property.
Where is this strip mall located?
The property is located at 985 Carson Cove Conway, AR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,480‑square‑foot retail strip center; Three active leases; Built in 1997
