Six-Unit Apartment
For Sale
$540,000
99 Highway 287, Greenbrier, AR 72058
Established rental property with additional acreage available for unit development, subject to zoning, approvals, and utilities.
Property Size5,365 SF
Lot Size1.70 Acres
Price / SF$100.65
Days on Market52
Property Features for 99 Highway 287
General Information
Standard status
Active
Size
5,365 SF
Lot size
1.70 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$3,367
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Brick Real Estate
(501) 497-3822
Listed By:
Bryce Richardson · License #000086881
(870) 530-7262
Source:
Exprealty
Added: Sep 14
Changed: Oct 25
Last Checked: Nov 3 at 11:35AM
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 Brick Real Estate
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Investment Insights
Based on property information with market context.
This six-unit apartment property was built in 2005 and contains 5,365 square feet on approximately 1.70 acres. The existing multifamily configuration provides an established rental asset, while additional acreage is available for potential development of more units, subject to applicable zoning, approvals, and utility availability.
The property is located on Highway 287 in Greenbrier, providing access to the surrounding area. Its combination of an existing apartment operation and expansion capacity supports both current rental use and possible future additions, subject to required approvals.
The property is located on Highway 287 in Greenbrier, providing access to the surrounding area. Its combination of an existing apartment operation and expansion capacity supports both current rental use and possible future additions, subject to required approvals.
Key Highlights
- Six‑unit apartment property built in 2005
- 5,365 square feet of property size
- Approximately 1.70 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,252
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,040
$645.0K
Cap Rate 7%
$460,743
$460.7K
Cap Rate 9%
$358,356
$358.4K
Market Conditions
NOI Build-Up for 5,365 SF
Gross rent
$62.4K $11.64/SF
− Vacancy
−$3.8K −$0.71/SF
EGI
$58.6K $10.93/SF
− OpEx
−$26.4K −$4.92/SF
NOI
$32.3K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,040
Cap Rate 7%
$460,743
Cap Rate 9%
$358,356
Alternative Uses
Best Use
Apartment 5plus
$460.7K
$403.2K – $537.5K
NOI $32,252 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,659 @ 7.0% cap · market cap 15.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 72058, AR
18,525
Population
7,143
Households
2.6
Avg Household Size
37
Median Age
28%
College-Educated
96%
High-School Grad
157.3 sq mi
ZIP Area
118
Density / Sq Mi
$80,406
Median Household Income
$48,578
Median Earnings
$1,027
Median Rent
$203,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Established rental property with additional acreage available for unit development, subject to zoning, approvals, and utilities.
Where is this apartment building located?
The property is located at 99 Highway 287 Greenbrier, AR.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Six‑unit apartment property built in 2005; 5,365 square feet of property size; Approximately 1.70 acres
