Frequently Asked Questions

​​​

Conway is one of the fastest-growing commercial markets in Central Arkansas. Below are answers to common questions from investors, developers, and business owners interested in commercial real estate opportunities in the area.
 

 

Why invest in commercial real estate in Conway, Arkansas?
 

Conway offers a strong combination of population growth, business expansion, and regional accessibility. Located along the I-40 corridor, the city benefits from its proximity to Little Rock while maintaining lower development costs and strong local demand.
 

Key advantages include:

​

• Rapid population and job growth

• Three major colleges, including University of Central Arkansas

• Strong retail and restaurant demand

• Access to Interstate 40 and regional logistics routes

• Pro-business city leadership and economic development initiatives

 

________________________________________
 

 

What types of commercial properties are most in demand in Conway?
 

The Conway market currently shows strong demand in several sectors:
 

• Retail and restaurant spaces, especially near high-traffic corridors

• Medical and professional office space

• Industrial and flex warehouse space

• Mixed-use developments near university and residential growth areas

• Outparcel development along major commercial corridors

 

High-growth areas include the corridors around Interstate 40, the University of Central Arkansas district, and major retail corridors such as Dave Ward Drive.

 

________________________________________

 

 

What is the typical process for developing commercial property in Conway?

 

Commercial development in Conway typically involves several steps:

 

• Site Selection – Identifying land with appropriate zoning and access

• Due Diligence – Environmental review, utilities, traffic access, and feasibility

• Zoning and Planning Approval – Coordination with the City of Conway Planning Department

• Design and Permitting – Engineering plans, architecture, and city approvals

• Construction and Leasing/Sales – Building improvements and securing tenants or buyers

 

Working with local commercial brokers, engineers, and development professionals can help streamline this process.

 

________________________________________

 

 

What zoning categories apply to commercial development in Conway?

 

Common commercial zoning classifications include:

 

• C-1 (Central Business District) – Downtown retail and mixed use

• C-2 (Highway Service District) – Auto services, hotels, and roadside retail

• C-3 (General Commercial) – Retail centers, restaurants, and general business uses

• O-1/O-2 (Office Districts) – Medical and professional offices

 

Zoning and permitted uses are administered through the City of Conway Planning Department.

 

________________________________________

 

 

How long does it take to develop commercial property in Conway?

 

Development timelines vary depending on the project size, but typical timelines are:

 

• 3–6 months for planning, approvals, and permitting

• 6–18 months for construction depending on building type

• 12–24 months total from acquisition to occupancy for many projects

 

Projects requiring rezoning or planned developments may take longer.

 

________________________________________

 

 

Are incentives available for commercial development in Conway?

 

In some cases, developers and investors may qualify for:

 

• Local economic development incentives

• Infrastructure support for major projects

• Tax abatements for qualifying developments

• State-level programs through Arkansas Economic Development Commission

 

Eligibility depends on job creation, investment size, and project impact.

 

________________________________________

 

 

What are typical commercial land prices in Conway?

 

Commercial land prices vary widely based on:

 

• Traffic counts

• Proximity to Interstate 40

• Utilities and infrastructure access

• Zoning and development readiness

 

Prime retail corridors often command significantly higher prices than emerging development areas or raw land.

 

________________________________________

 

 

What should investors consider before buying commercial property?

 

Before purchasing commercial property in Conway, investors should evaluate:

 

• Traffic counts and visibility

• Nearby residential growth

• Zoning and development restrictions

• Utility availability

• Market demand for the property type

• Potential tenant mix and lease rates

 

Conducting thorough due diligence and working with experienced commercial professionals is critical.

 

________________________________________

 

 

How can a commercial broker help with development or acquisition?

 

A commercial real estate broker can assist with:

 

• Off-market property opportunities

• Market analysis and valuation

• Site selection and feasibility

• Negotiation of purchase or lease terms

• Connecting investors with local developers, lenders, and contractors

 

Local market expertise is particularly valuable in rapidly growing markets like Conway.

 

________________________________________

 

 

Looking for commercial property in Conway?

 

Whether you are buying land, selling commercial property, or planning a development project in Conway, working with a knowledgeable local commercial real estate professional can help you navigate the process and maximize your investment.

 

Contact us today to discuss available properties, development opportunities, and market insights.

​

Mitch Hart, CCIM

President - Dunaway & Hart, Inc.
President - HartLand Development Company
575 Harkrider Street
Conway, AR  72032
501-626-2121 Mobile
501-327-2121 Office

mhart@hdevco.com

​​​