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
    Property profile & analytics

    2521 College Ave Conway, AR 72034-6135

    • Drug stores
    • 1,826 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    6.7%
    Drug stores
    Location Intelligence
    Property ID
    US05-0351923
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medcare Pharmacy / Pharmacy / Drug Store

    Property Details for 2521 College Ave

    Year built
    1985
    Lot size
    0.24 lot acres
    Property size
    1,826 SF
    Property type
    Drug stores
    APN
    710-04506-000C
    APU
    71004506000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $275,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $331,000
      Market price range: $116k - $331k
      AI Estimate
      $160,000
      Market price range: $52.2k - $161k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4644
    Latitude
    35.0847
    CBSA code
    30780
    CBSA name
    LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,097
    $10,560
    $30,880
    $41,440
    -
    $52,800
    $154,400
    $207,200

    Comparable in this City

    • Value Estimation
      $500,000
      14,736 SF

      505 Salem Rd

      DRUG STORE, PHARMACY • 14,736 SF
      505 Salem Rd, Conway, AR 72034-4815
      View Details
    • Value Estimation
      $305,000
      4,000 SF

      1159 Pkwy St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      1159 Pkwy St, Conway, AR 72034-3903
      View Details
    • Value Estimation
      $275,000
      3,558 SF

      921 Locust Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,558 SF
      921 Locust Ave, Conway, AR 72034-5332
      View Details
    • Value Estimation by Request
      7,114 SF

      2100 College Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,114 SF
      2100 College Ave, Conway, AR 72034-6210
      View Details
    • Value Estimation
      $1,055,000
      9,828 SF

      3605 College Ave

      GYM, HEALTH SPA • 9,828 SF
      3605 College Ave, Conway, AR 72034-7377
      View Details
    • Value Estimation
      $280,000
      3,198 SF

      902 Pkwy St

      RETAIL STORES (PERSONAL SERVICES) • 3,198 SF
      902 Pkwy St, Conway, AR 72034-5347
      View Details

    Similar Nearby for Sale

    • $230,000
      1,712 SF

      Conway Office/Retail Opportunity

      Office or retail building with living space and storage.
      1214 Clifton St, Conway, AR 72034
      View Details
    • $360,000
      2,006 SF

      Commercial Space in Conway, AR

      Commercial space with high visibility and plentiful parking.
      703 Donaghey Ave, Conway, AR 72034
      View Details
    • $399,900
      1,960 SF

      Versatile Commercial Building, Prime Location

      Commercial building suitable for various business uses in a thriving area.
      2845 W Prince St, Conway, AR 72034
      View Details
    • $1,350,000
      6.49 Acres

      Conway Commercial Land - $1.35M

      6.49 Acres, C-3 Zoning, Prime Location
      4040 Dave Ward Dr, Conway, AR 72034
      View Details
    • Contact for pricing
      0.02 Acres

      Conway Office Suite - Prime Location

      Affordable Office Space, Excellent Visibility
      1355 Dave Ward Dr, Conway, AR 72034
      View Details
    • $399,900
      10.00 Acres

      10-Acre Conway Development Land

      Prime MF-2 zoned land, high development potential.
      3825 Donnell Ridge Rd, Conway, AR 72034
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      975 SF

      Retail Space Near UCA

      Retail space with high visibility and access near UCA.
      2285 Moix Blvd, Conway, AR 72034
      View Details
    • $26 SF/Yr
      1,518 SF

      Retail Space Near UCA

      Retail space with high visibility and easy access to I-40.
      2280 Moix Blvd, 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
    • $22 SF/Yr
      1,400 SF

      Upscale Retail Space in Conway

      Retail space available in upscale lifestyle center in Conway, AR.
      2235 Dave Ward Dr, Conway, AR 72034
      View Details
    • $5 SF/Yr
      7,000 SF

      Conway Warehouse Space Available

      1,800 SF Warehouse in Conway, AR
      1319 Nabholz Ave, Conway, AR 72034
      View Details
    • $20 SF/Yr
      4,012 SF

      Office Space with Drive-Through

      Office space with drive-through available for lease.
      3700 Dave Ward Dr, 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.
    2521 College Ave
    Conway, AR 72034-6135
    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.