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Property profile & analytics
FOR LEASE
Medical Office Space
350 E Millsap Rd, Fayetteville, AR 72703
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US05-0850340
For Lease
1 / 11
$18 SF/Yr
350 E Millsap Rd, Fayetteville, AR 72703
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Total area
10,266 SF
Lot
1.39 ac (60,766 SF)
Zoning code
C-2
APN
765-18522-000
UPID
US05-0850340
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Raben Cyril a MD Physician
-
Chinese Association of North West Arkansas Association / Organization
-
Joann Mahan Pediatrician Physician
-
Cathy C. Luo, MD Physician
-
Pain Management and Rehabilitation Consultants Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$325k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$535k
Owner & transaction history
Burgas Realty LLC · 18 yrs held
Burgas Realty LLC
since 2008
1 recorded transaction
Zoning & alternative use
C-2 · Fayetteville, AR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$865,000
+26.6%
Commercial (general)
$805,000
+18.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fayetteville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fayetteville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$680,000
Current use
RESTAURANT
$865,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$805,000
Change: +18% · Conversion: Easy
OFFICE BUILDING
$610,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$23,046
Tax year 2024
Assessed value
$472,900
Assessed 2024
Previous assessed
$472,900
+0.0% YoY
Effective rate
4.87%
On assessed value
Assessed land
$106,470
Assessed improvement
$366,430
Land market value
$532,350
Improvement market value
$1,832,150
Total market value
$2,364,500
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1997
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
10,266 SF
Lot
1.39 ac (60,766 SF)
Zoning code
C-2
APN
765-18522-000
UPID
US05-0850340
Jurisdiction
WASHINGTON
Zoning & alternative use
C-2 · Fayetteville, AR
Zoning C-2 · permitted uses
C-2 · Fayetteville, AR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fayetteville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$680,000
RESTAURANT
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$805,000
OFFICE BUILDING
Est. value
$610,000
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Burgas Realty LLC
Entity
Mailing address
PO BOX 9928, FAYETTEVILLE, AR 72703-0034
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2008
$1,300,000
Burgas Realty LLC
Terben Holdings LLC
Warranty Deed
$1,100,000 · Regions Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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