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    Property profile & analytics

    2225 Prince St Conway, AR 72034-3753

    • Strip malls
    • 21,000 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Jul 28, 2023
    $1,400,000
    Value Estimations
    $1,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0428838
    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

    • Perfections Barbershop / Barber Shop
    • Turnpointe Church of Conway / Church
    • Bamboo Hibachi Conway / Japanese Restaurant
    • Pat Bradley Bradley / Veterinarian
    • Unique Technology Solutions LLC / Electronics Repair Shop / Cell Phone Store

    Property Details for 2225 Prince St

    Lot size
    4.00 lot acres
    Property size
    21,000 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    710-08374-000C
    APU
    71008374000C

    Description

    This exceptional 2.21-acre commercial land parcel presents a remarkable investment opportunity in Conway, Arkansas. Located at 2225 Prince Street, this vacant lot boasts 145 feet of frontage on Prince Street and a depth of 684.80 feet, providing ample space for a variety of commercial developments. The property is zoned for commercial use, allowing for diverse project possibilities. Situated just west of Laurel Plaza center, this location offers excellent visibility and accessibility, benefiting from existing infrastructure and high traffic volume. The asking price is $750,000, translating to $339,000 per acre, reflecting the significant value and potential of this prime real estate. The property is owned by an LLC, ensuring a streamlined and efficient transaction process. With its ideal location, substantial size, and favorable zoning, this land parcel represents a compelling investment opportunity for developers seeking to capitalize on Conway's thriving commercial market. Detailed site plans and surveys are available upon request. This is a rare opportunity to acquire a large, well-located commercial lot in a rapidly growing area. Don't miss out on this chance to build your next successful venture. The property is located in Faulkner County, Arkansas, with a zip code of 72034.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,260,000
      ML approach
      $1,280,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.459
    Latitude
    35.0908
    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
    $7,901
    $87,120
    $69,020
    $156,140
    -
    $435,600
    $345,100
    $780,700

    Comparable in this City

    • Value Estimation
      $255,000
      6,390 SF

      945 Carson Cv

      SHOPPING CENTER, STRIP CENTER • 6,390 SF
      945 Carson Cv, Conway, AR 72034-4842
      View Details
    • Value Estimation
      $675,000
      26,494 SF

      2850 Prince St

      SHOPPING CENTER, STRIP CENTER • 26,494 SF
      2850 Prince St, Conway, AR 72034-3686
      View Details
    • Value Estimation
      $305,000
      16,600 SF

      1055 Sunflower Dr

      SHOPPING CENTER, STRIP CENTER • 16,600 SF
      1055 Sunflower Dr, Conway, AR 72034-3685
      View Details
    • Value Estimation
      $645,000
      22,508 SF

      1445 Hogan Ln

      SHOPPING CENTER, STRIP CENTER • 22,508 SF
      1445 Hogan Ln, Conway, AR 72034-8129
      View Details
    • Value Estimation
      $390,000
      17,138 SF

      710 Salem Rd

      SHOPPING CENTER, STRIP CENTER • 17,138 SF
      710 Salem Rd, Conway, AR 72034-5515
      View Details
    • Value Estimation
      $255,000
      7,840 SF

      Hogan Ln Mcdowell Dr

      SHOPPING CENTER, STRIP CENTER • 7,840 SF
      Hogan Ln Mcdowell Dr, Conway, AR 72034
      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
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    • $360,000
      2,006 SF

      Commercial Space in Conway, AR

      Commercial space with high visibility and plentiful parking.
      703 Donaghey Ave, Conway, AR 72034
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    • $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
    • $198,000
      2.00 Acres

      Conway Commercial Land Investment

      Prime West Conway acreage, C-3 zoning
      4035 Dave Ward Dr, Conway, AR 72034
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    • $595,908
      1.14 Acres

      Conway Commercial Land Opportunity

      1.14 Acres, C-3 Zoning, $595,908
      975 Fannie Dr, Conway, AR 72034
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    • $1,500,000
      8.55 Acres

      Commerce Flex Space Available

      Dallas Industrial Flex Space: 2,463-4,745 SF
      4015 Dave Ward Dr, Conway, AR 72034
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    Similar Nearby for Lease

    • $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
    • $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
    • $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
    • $13 SF/Yr
      20,500 SF

      Crown Plaza Executive Suites

      Conway Office Space Available Now
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      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
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    Conway, AR 72034-3753
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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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