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    Property profile & analytics

    355 Ledgelawn Dr Conway, AR 72034

    • Office buildings
    • 151,722 SF
    • 22.88 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0384398
    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

    • Florence Insurance Agency / Insurance Agency
    • Gainwell Technologies / Corporate Office
    • DXC Technology / Corporate Office

    Property Details for 355 Ledgelawn Dr

    Year built
    2009
    Lot size
    22.88 lot acres
    Property size
    151,722 SF
    Property type
    Office buildings
    APN
    711-08176-108
    APU
    71108176108

    Description

    This prestigious, LEED-certified Class A office building in Conway, Arkansas, offers 150,000 square feet of versatile space, perfect for owner-users or lease. Built in 2009, this two-story building sits on a spacious 22.88-acre lot, allowing for future expansion. The property features a modern, open floor plan easily adaptable to various needs, including the possibility of subdividing the space for smaller tenants (minimum 10,000 sq ft). High-end amenities include LED lighting with proximity sensors, sound masking, and a robust 1500 kW 3-phase generator ensuring reliable power. The HVAC system is zoned for efficient demising of lease spaces. Employees will enjoy a state-of-the-art fitness facility, cafeteria/restaurant, dining area, game room, outdoor volleyball court, and patio. This exceptional property provides a perfect blend of professional functionality and employee well-being in a tranquil campus setting. The building is currently vacant and available for occupancy September 18, 2024. The property's address is 355 Ledgelawn Drive, Conway, AR 72034, and the APN is 711-08176-108. Contact for pricing details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,032,000
      Market price range: $11.5M - $21.5M
      AI Estimate
      $13,750,000
      Market price range: $7.72M - $19.5M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $17,030,000
      Current use
      COMMERCIAL (GENERAL)
      $22,015,000
      Change: +29% Conversion: Easy
      RETAIL STORES
      $17,790,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.431
    Latitude
    35.0416
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
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      811 Pkwy St, Conway, AR 72034-5342
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      821 Pkwy St, Conway, AR 72034-5342
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      231 Sturgis Rd

      OFFICE BUILDING • 2,400 SF
      231 Sturgis Rd, Conway, AR 72034-8334
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    • Value Estimation
      $570,000
      4,170 SF

      1200 Covington Way

      OFFICE BUILDING • 4,170 SF
      1200 Covington Way, Conway, AR 72034-7155
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    • Value Estimation by Request
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      574 Locust Ave

      OFFICE BUILDING • 1,632 SF
      574 Locust Ave, Conway, AR 72034-5349
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,145 SF

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      150,000 SF

      Class A Office Building

      Two-story, 150,000 SF Class A office building for sale.
      355 Ledgelawn Dr, Conway, AR 72034
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    • Contact for pricing
      150,000 SF

      Class A Office Building

      Two-story, 150,000 SF office building on 22.88 acres.
      355 Ledgelawn Dr, Conway, AR 72034
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    • $399,900
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      Commercial Building with Prime Location

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      Conway Office/Live-Work Building and Land

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    Similar Nearby for Lease

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      7,200 SF

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      Office and Retail Spaces Available

      Office and retail spaces for rent.
      2915 Dave Ward Dr, Conway, AR 72034
      View Details
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      1,536 SF

      Medical Office Space Available

      Medical office space for rent near Conway Regional Medical Center.
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    • $20 SF/Yr
      4,012 SF

      Office Space with Drive-Through

      Office space with drive-through available for lease.
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      View Details
    • Contact for pricing
      2,000 SF

      Office Space Near Dave Ward

      Office space with garage and private restroom near Dave Ward.
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    • Contact for pricing

      Retail Space in Nutters Chapel Plaza

      Retail space available in a busy Conway shopping center.
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      View Details
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    Conway, AR 72034
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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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