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    609 Military Rd Benton, AR 72015-3721
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    Property profile & analytics

    609 Military Rd, Benton, AR 72015-3721

    View on Map
    • Drug stores
    • 13,321 SF
    • 2.16 lot acres
    Off-Market
    Property ID
    US05-2088658
    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.
    Value Estimations
    $1,950,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • UPS Access Point location / Courier Service / Postal Service

    Property Details for 609 Military Rd

    Year built
    2016
    Lot size
    2.16 lot acres
    Property type
    Drug stores
    APN
    800-15400-000
    APU
    80015400000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 6, 2016 — Benton Military LLC — Deed · related $9M · Wells Fargo Bk Nw NA
    — — Benton Military LLC — Deed Of Trust · related $9M · Wells Fargo Bk Nw NA

    Description

    This exceptional freestanding retail property, formerly a CVS Pharmacy, presents a unique investment opportunity in Benton, Arkansas. Located at 609 Military Rd, this single-tenant building boasts a substantial 13,321 square feet of vacant space, ready for immediate occupancy. The property sits on a generous 2.16-acre lot, providing ample parking and visibility for any business. Its strategic location in Saline County, with easy access from Military Road, ensures high traffic volume and excellent exposure to potential customers. The building's previous use as a pharmacy suggests suitability for a variety of retail uses, potentially including medical, convenience, or other similar businesses. The property's size and layout offer flexibility for customization to meet the specific needs of a new tenant. The building is currently completely vacant, presenting a blank canvas for a new business to establish a strong presence in the Benton market. This is a rare opportunity to acquire a well-located, sizable retail space in a thriving community. The property's high visibility and ample parking make it an ideal location for a business seeking maximum exposure and customer convenience. The 72015 zip code offers access to a strong local customer base. This property is ready for immediate development and occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,435,000
      6.5%
      $2,245,000
      7%
      $2,085,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,991,000
      Market price range: $685k - $1.99M
      AI Estimate
      $1,617,000
      Market price range: $364k - $1.62M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,320,000
      Current use
      OFFICE BUILDING
      $1,330,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,265,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Benton
    County
    Saline
    State
    Arkansas
    Longitude
    -92.5847
    Latitude
    34.5691
    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
    2024
    $21,323
    $30,000
    $346,070
    $376,070
    -
    $150,000
    $1,730,350
    $1,880,350

    Comparable in this City

    • Value Estimation
      $1,440,000
      9,818 SF

      414 Main St

      DRUG STORE, PHARMACY
      414 Main St, Benton, AR 72015-3714
      View Details
    • Value Estimation
      $5,735,000
      14,728 SF

      702 Military Rd

      DRUG STORE, PHARMACY
      702 Military Rd, Benton, AR 72015-3311
      View Details
    • Value Estimation by Request
      1,500 SF

      309 Maple

      RETAIL STORES (PERSONAL SERVICES)
      309 Maple, Benton, AR 72015-4421
      View Details
    • Value Estimation by Request
      2,600 SF

      110 Market St

      RETAIL STORES (PERSONAL SERVICES)
      110 Market St, Benton, AR 72015-3769
      View Details
    • Value Estimation by Request
      1,500 SF

      1130 Military Rd

      RETAIL STORES (PERSONAL SERVICES)
      1130 Military Rd, Benton, AR 72015-2909
      View Details
    • Value Estimation by Request
      3,840 SF

      217 St

      RETAIL STORES (PERSONAL SERVICES)
      217 St, Benton, AR 72015-3867
      View Details

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      Former Oil Change Retail Space

      3,000 SF retail space with high visibility and traffic.
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      5,085 SF

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      Retail space for sale with highway frontage and expansion.
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    Similar Nearby for Lease

    • $28 SF/Yr

      Retail Space in Hurricane Creek

      Retail space in high-traffic area near I-30 and Hwy 5.
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      3,600 SF

      Retail Space in Benton, AR

      3,600 SF retail space available for lease.
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      View Details
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      10,750 SF

      Retail Space in Hickory Square

      10,750 SF retail space for lease in Benton, Arkansas.
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    • $3,562 /Mo

      Benton Warehouse Space For Lease

      14,708 SF warehouse in central Benton with I-30 access.
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      3,047 SF

      Medical Office Near I-30

      Class A medical office space with easy highway access.
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      Medical Office Space in Benton

      Class A medical office space available for rent in Benton.
      3 Medical Park Dr, Benton, AR 72015
      View Details
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    Benton, AR 72015-3721
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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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