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    Property profile & analytics

    500 Amity Rd Conway, AR 72032

    • Strip malls
    • 35,921 SF
    • 3.47 lot acres
    For Lease
    View listing
    Value Estimations
    $1,140,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0409620
    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

    • Plato's Closet / Clothing & Fashion Store
    • Style Encore Conway / Clothing & Fashion Store
    • Umami Sushi Lounge & Grill Fusion in Conway Arkansas / Restaurant
    • Spectrum Paint / Hardware & Home Improvement / Building Supply
    • The UPS Store / Courier Service / Postal Service

    Property Details for 500 Amity Rd

    Year built
    2002
    Lot size
    3.47 lot acres
    Property size
    35,921 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    710-07978-008C
    APU
    71007978008C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $695,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,584,000
      Market price range: $721k - $1.61M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,235,000
      Current use
      MEDICAL BUILDING
      $1,800,000
      Change: +46% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,290,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4159
    Latitude
    35.0865
    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
    $35,754
    $246,920
    $459,690
    $706,610
    -
    $1,234,600
    $2,298,450
    $3,533,050

    Comparable in this City

    • Value Estimation
      $655,000
      29,458 SF

      1070 Markham St

      SHOPPING CENTER, STRIP CENTER • 29,458 SF
      1070 Markham St, Conway, AR 72032-4310
      View Details
    • Value Estimation by Request
      4,510 SF

      1155 Ml St

      SHOPPING CENTER, STRIP CENTER • 4,510 SF
      1155 Ml St, Conway, AR 72032
      View Details
    • Value Estimation by Request
      6,600 SF

      1035 Pats Ln

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      1035 Pats Ln, Conway, AR 72032-4754
      View Details
    • Value Estimation by Request
      5,460 SF

      2320 Washington Ave

      SHOPPING CENTER, STRIP CENTER • 5,460 SF
      2320 Washington Ave, Conway, AR 72032-2763
      View Details
    • Value Estimation by Request
      4,048 SF

      444 Hwy 64th E

      SHOPPING CENTER, STRIP CENTER • 4,048 SF
      444 Hwy 64th E, Conway, AR 72032-9420
      View Details
    • Value Estimation
      $2,035,000
      24,692 SF

      1150 Museum Rd

      SHOPPING CENTER, STRIP CENTER • 24,692 SF
      1150 Museum Rd, Conway, AR 72032-4709
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Pad in Power Center

      1.97 acre retail pad in a well-located power center.
      1301 S Amity Rd, Conway, AR 72032
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      Retail Space in Conway Center

      Retail spaces available in a prominent shopping center.
      201 Skyline Dr, Conway, AR 72032
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      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
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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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    • Contact for pricing
      1,558 SF

      NNN Leased Retail Investment

      Retail property with long-term absolute NNN lease.
      175 E Oak St, Conway, AR 72032
      View Details
    • 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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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Power Center

      Retail space for lease in Conway, Arkansas power center.
      E Dave Ward Dr, Conway, AR 72032
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Power Center

      Move-in ready retail space in a well-located power center.
      1260 S Amity Rd, Conway, AR 72032
      View Details
    • Contact for pricing

      Retail Space in Prominent Center

      Retail spaces ranging from 1,125 SF - 9,900 SF available.
      201 Skyline Dr, Conway, AR 72032
      View Details
    • Contact for pricing
      16,800 SF

      Leased Shopping Center in Conway

      Well-located shopping center with strong national tenant mix.
      1120 S Amity Rd, Conway, AR 72032
      View Details
    • Contact for pricing
      4,622 SF

      Retail Space with Highway Access

      Retail space with strong brand presence and highway accessibility.
      1025 S Amity Rd, Conway, AR 72032
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Conway, Arkansas.
      201 Skyline Dr, Conway, AR 72032
      View Details
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    500 Amity Rd
    Conway, AR 72032
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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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