505 Amity RdConway, AR 72032

Property Details for 505 Amity Rd

Year built

2005

Lot size

0.74 AC

Property size (Sq ft)

10,200 SF

Property type

Office properties

Property subtype

Office buildings

APN

710-07978-009C

APU

71007978009C

Description

This exceptional investment opportunity presents a 10,200 square foot, single-story, multi-tenant office building situated on a 0.74-acre lot at 505 Amity Road in Conway, Arkansas, zip code 72032. The property is classified as a Class C building and boasts significant visibility from Interstate 40, with approximately 66,000 vehicles passing daily. This prime location offers a unique signage opportunity for enhanced brand exposure. The building features ample parking, with a ratio of 3.63 spaces per 1,000 square feet. The asking price is $1,790,000, translating to $175.49 per square foot. The property is zoned C-3, allowing for a variety of commercial uses. The building's multi-tenant structure presents potential for immediate income generation. This is a rare opportunity to acquire a well-located, established office building with strong potential for future growth and return on investment in the thriving Conway market. The property is conveniently located in Faulkner County, Arkansas. Further details regarding the current tenancy and potential in-place income are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,621,285

  6.5%

  $1,496,571

  7%

  $1,389,673

• Comparable approach

  Method

  Valuation

  Relative Method

  $729,606

  Geo Method

  $729,606

• Alternative Use

  Use

  Valuation

  Residential

  $1,855,748

  Hospitality

  $1,699,855

  Educational

  $1,414,259

  Medical

  $1,462,898

  Retail

  $2,199,959

Location Insight

City

Conway

County

Faulkner

State

Arkansas

Latitude

35.0871

Longitude

-92.4166

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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