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    Property profile & analytics

    2115 Washington Ave Conway, AR 72032-2744

    • Office buildings
    • 5,068 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0327051
    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

    • Melissa Cowper-Smith REALTOR®️ Keller Williams Realty Central / Real Estate Agency
    • Casey Garrett-Hearn REALTOR Keller Williams Realty Central / Real Estate Agency
    • Hobbs Construction Inc / Construction Company / General Contractor
    • Nicole Garmany, Keller Williams Realty Central / Real Estate Agency
    • Mitchell Martin, Executive Broker at eXp Realty / Real Estate Agency

    Property Details for 2115 Washington Ave

    Year built
    2008
    Lot size
    0.49 lot acres
    Property size
    5,068 SF
    Property type
    Office buildings
    APN
    710-04211-002
    APU
    71004211002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $640,000
      Market price range: $337k - $658k
      AI Estimate
      $490,000
      Market price range: $220k - $666k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $555,000
      Current use
      COMMERCIAL (GENERAL)
      $735,000
      Change: +33% Conversion: Easy
      RETAIL STORES
      $625,000
      Change: +13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4452
    Latitude
    35.1069
    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
    $5,501
    $15,040
    $93,680
    $108,720
    -
    $75,200
    $468,400
    $543,600

    Comparable in this City

    • Value Estimation by Request
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      1495 Hwy 365th S, Conway, AR 72032-9290
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      2,379 SF

      394 Hwy 65th N

      OFFICE BUILDING • 2,379 SF
      394 Hwy 65th N, Conway, AR 72032-3505
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    • Value Estimation by Request
      792 SF

      1110 Main St

      OFFICE BUILDING • 792 SF
      1110 Main St, Conway, AR 72032-5440
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    • Value Estimation by Request
      2,875 SF

      924 Van Ronkle St

      OFFICE BUILDING • 2,875 SF
      924 Van Ronkle St, Conway, AR 72032-4324
      View Details
    • Value Estimation by Request
      1,698 SF

      1600 Washington Ave

      OFFICE BUILDING • 1,698 SF
      1600 Washington Ave, Conway, AR 72032-4115
      View Details
    • Value Estimation by Request
      1,359 SF

      250 Harkrider St

      OFFICE BUILDING • 1,359 SF
      250 Harkrider St, Conway, AR 72032-7108
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,491 SF

      High-Visibility Corner Lot Building

      Modern 3,941 SF building on 1.35 acres for sale.
      2400 Donaghey Ave, Conway, AR 72032
      View Details
    • $595,000

      Historic Downtown Conway Office Building

      Office building and apartment complex in historic downtown Conway.
      1422 Caldwell St, Conway, AR 72032
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    • $325,000
      1,200 SF

      Conway Flex Space on Acre

      Flex space building on over an acre in Conway, AR.
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    • $195,000

      Commercial Land with Road Frontage

      1.77 acres of commercial land in high-traffic area.
      Victory Ln, Conway, AR 72032
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    • New
      $1,475,000
      6,342 SF

      Retail/Office Building on Collier Drive

      Highly visible building on 1.07 acres in active commercial corridor.
      1180 Collier Dr, Conway, AR 72032
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    • Contact for pricing
      7,040 SF

      Highway Accessible Commercial Buildings

      Two buildings totaling 7,040 SF near Highway 64 in Conway.
      1290 Dons Ln, Conway, AR 72032
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    Similar Nearby for Lease

    • Contact for pricing
      4,020 SF

      Office Space Near Dave Ward

      Office space with private offices and conference rooms for rent.
      505 E Dave Ward Dr, Conway, AR 72032
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      719 Front St, Conway, AR 72032
      View Details
    • Contact for pricing
      1,494 SF

      Downtown Conway Office Space

      Office space in the heart of downtown Conway.
      1023 Main St, Conway, AR 72032
      View Details
    • $5,866 /Mo

      Conway Office/Warehouse with Storage

      Versatile commercial space near Highway 64 with ample parking.
      1290 Dons Ln, Conway, AR 72032
      View Details
    • Contact for pricing

      Downtown Conway Office Space

      Office space available for rent in downtown Conway.
      1014 Main St, Conway, AR 72032
      View Details
    • Contact for pricing

      Flex Space Near Conway Commons

      Flex space near Conway Commons shopping plaza with ample parking.
      1150 Museum Rd, Conway, AR 72032
      View Details
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    2115 Washington Ave
    Conway, AR 72032-2744
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    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
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