Flex Space With Overhead
For Sale
$399,000
3224 Mabelvale Pike, Little Rock, AR 72204
COMMERCIAL - Little Rock, AR
Property Size4,600 SF
Lot Size0.43 Acres
Price / SF$86.74
Days on Market9
Property Features for 3224 Mabelvale Pike
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use Commercial
Parking
10
Lot features
Level
Directions
I-630 to Fair Park Blvd exit, stay on Fair Park Blvd and cross Asher Ave. Building on the right.
Subdivision
Little Rock
Standard status
Active
Size
4,600 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Description
Lot 10, Block 1
Tax Annual Amount
2195
Legal Description
Lot 10, Block 1
Amenities
private offices
open warehouse/work area
oversized overhead door
Building Details
Year built
1960
Floors in Building
1
Flooring type
Concrete, Vinyl
Architectural style
Other
Listing Agency:
LPT Realty · RE/MAX International
(501) 291-3841
Listed By:
Kelly Wei · License #EB00074530
(501) 860-8306
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 11 at 10:06PM
MLS# 26031506
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,600-square-foot flex property combines two private offices with a broad warehouse and work area. An oversized overhead door supports loading and unloading, while concrete and vinyl flooring serve the building’s mixed office and operational layout. Constructed in 1960, the property offers a straightforward commercial configuration for users needing enclosed work and storage space.
The site encompasses 0.43 acres at 3224 Mabelvale Pike in Little Rock, Arkansas. The property is adjacent to 5401 Asher Ave and may be acquired together with that parcel, providing an option to assemble a larger commercial site with additional frontage. The two-property purchase is subject to further details from the listing agent.
The site encompasses 0.43 acres at 3224 Mabelvale Pike in Little Rock, Arkansas. The property is adjacent to 5401 Asher Ave and may be acquired together with that parcel, providing an option to assemble a larger commercial site with additional frontage. The two-property purchase is subject to further details from the listing agent.
Key Highlights
- 4,600 SF flex building on 0.43 acres
- Two private offices and an open warehouse/work area
- Oversized overhead door for loading and unloading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,927
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$698,540
$698.5K
Cap Rate 7%
$498,957
$499.0K
Cap Rate 9%
$388,078
$388.1K
Market Conditions
NOI Build-Up for 4,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.4K $12.48/SF
− Vacancy
−$3.7K −$0.80/SF
EGI
$53.7K $11.68/SF
− OpEx
−$18.8K −$4.09/SF
NOI
$34.9K $7.59/SF
Area
Little Rock, AR
Vacancy
6.40%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$698,540
Cap Rate 7%
$498,957
Cap Rate 9%
$388,078
Alternative Uses
Best Use
Retail
$736.8K
$644.7K – $859.6K
NOI $51,577 @ 7.0% cap · market cap 12.93%
Second Best
Flex RnD
$499.0K
$436.6K – $582.1K
NOI $34,927 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$835.6K
$731.2K – $974.9K
NOI $58,495 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72204, AR
31,564
Population
14,570
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
2,077
Density / Sq Mi
$39,088
Median Household Income
$29,733
Median Earnings
$1,016
Median Rent
$117,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two private offices complement an open warehouse/work area with convenient loading access.
Where is this flex space located?
The property is located at 3224 Mabelvale Pike Little Rock, AR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 4,600 SF flex building on 0.43 acres; Two private offices and an open warehouse/work area; Oversized overhead door for loading and unloading
