Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Old Morrilton Hwy Conway, AR 72034

    • Commercial real estate
    • 2.50 lot acres
    For Sale
    View listing
    $399,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Old Morrilton Hwy

    Lot size
    2.50 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.5-acre parcel of land is situated on Old Morrilton Highway in Conway, Arkansas. The property presents a unique opportunity for various development projects, given its size and strategic location. The expansive acreage offers ample space for a wide range of uses, from commercial ventures to potential residential subdivisions, subject to local zoning regulations. The property's address is Old Morrilton Highway, placing it within convenient reach of Conway's amenities and infrastructure. Prospective buyers are encouraged to conduct their own due diligence regarding zoning regulations, utility access, and potential development costs. This land offers significant potential for investors and developers seeking a substantial property in a growing Arkansas market. The asking price is $399,000. Detailed information regarding soil conditions, environmental assessments, and any existing surveys should be obtained independently by interested parties. This is a rare opportunity to acquire a sizable tract of land in a desirable location. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4984
    Latitude
    35.1121

    Comparable in this City

    • Value Estimation by Request
      77.00 Acres

      960 Doy B Rd

      Land • 77.00 Acres
      960 Doy B Rd, Conway, AR 72034
      View Details
    • Value Estimation by Request
      1.14 Acres

      1005 Fannie Dr

      Land • 1.14 Acres
      1005 Fannie Dr, Conway, AR 72034
      View Details
    • Value Estimation by Request
      25.87 Acres

      3795 Donnell Ridge Rd

      Land • 25.87 Acres
      3795 Donnell Ridge Rd, Conway, AR 72034
      View Details
    • Value Estimation by Request
      18.65 Acres

      650 Hogan Ln

      Land • 18.65 Acres
      650 Hogan Ln, Conway, AR 72034
      View Details
    • Value Estimation by Request
      10.00 Acres

      3825 Donnell Ridge Rd

      Land • 10.00 Acres
      3825 Donnell Ridge Rd, Conway, AR 72034
      View Details
    • Value Estimation by Request

      2147 College Ave

      COMMERCIAL (GENERAL)
      2147 College Ave, Conway, AR 72034
      View Details

    Similar Nearby for Sale

    • $389,000
      1.09 Acres

      Conway Commercial Land - $389K

      1.09-Acre C-3 Zoned Lot, High Visibility
      3640 Dave Ward Dr, Conway, AR 72034
      View Details
    • $375,000
      0.99 Acres

      Conway Commercial Land - $375,000

      High-visibility Conway land, ideal for development.
      3600 Dave Ward Dr, Conway, AR 72034
      View Details
    • $350,000
      5.00 Acres

      Conway Commercial Land - I-40 Frontage

      5-Acre Commercial Lot, I-40 Access
      940 Doy B Rd, Conway, AR 72034
      View Details
    • Contact for pricing
      1.34 Acres

      Batesville Commercial Land Opportunity

      1.34 Acres, High-Traffic Location
      0 244 & 280 St Louis, Conway, AR 72034
      View Details
    • $399,000
      2.50 Acres

      Conway AR Land - 2.5 Acres

      Prime 2.5-acre lot, ideal for development. Excellent location.
      Old Morrilton Hwy, Conway, AR 72034
      View Details
    • Contact for pricing
      0.99 Acres

      Conway Marketplace Land Opportunity

      Prime Commercial Land, 5 Parcels Available
      0 Dave Ward Dr, Conway, AR 72034
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      2,400 SF

      Office Space with Open Layout

      Office space featuring an open floor plan and kitchen area.
      707 Robins St, Conway, AR 72034
      View Details
    • $13 SF/Yr
      20,500 SF

      Crown Plaza Executive Suites

      Conway Office Space Available Now
      2915 Dave Ward Dr, Conway, AR 72034
      View Details
    • Contact for pricing
      1 SF

      Batesville Commercial Land Opportunity

      ±1.34 Acres, Prime Commercial Lot
      0 244 & 280 St Louis, Conway, AR 72034
      View Details
    • $21 SF/Yr
      1,105 SF

      Retail Space with Ample Parking

      Retail space for rent with residential living above.
      825 S Donaghey Ave, Conway, AR 72034
      View Details
    • $2,975 /Mo
      1,536 SF

      Medical Office Space Available

      Medical office space for rent near Conway Regional Medical Center.
      2425 Dave Ward Dr, Conway, AR 72034
      View Details
    • $8 SF/Yr
      2,000 SF

      Office Space Near Dave Ward

      Office space with garage and private restroom near Dave Ward.
      600 S German Ln, Conway, AR 72034
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Old Morrilton Hwy
    Conway, AR 72034
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.