Three-Room Office
For Sale
$149,900
501 W 3rd Place, Russellville, AR 72801
CommercialSale, Russellville, AR
Property Size975 SF
Price / SF$153.74
Days on Market68
Property Features for 501 W 3rd Place
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
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Standard status
Active
APN
799-00010-000C
Size
975 SF
Taxes and HOA fees
Tax Description
PT 4 5 6 BLK 2 CITY OF RUSSELLVILLE
Legal Description
PT 4 5 6 BLK 2 CITY OF RUSSELLVILLE
Building Details
Year built
1938
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Ladd Shannon · License #SA00055694
(479) 886-1959
Added: Jul 21
Changed: Sep 7
Last Checked: Sep 26 at 5:06PM
MLS# 1356226
Copyright © 2026 ArkansasONE MLS. 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 975-square-foot office unit at 501 W 3rd Place includes three separate rooms that can serve as offices or consultation spaces. Constructed in 1938, the property offers a compact layout for professional use.
The building is located in Russellville, Arkansas, near the downtown depot and entertainment area. Its address is within ZIP code 72801 in Pope County.
The building is located in Russellville, Arkansas, near the downtown depot and entertainment area. Its address is within ZIP code 72801 in Pope County.
Key Highlights
- 975 square feet of office space
- Three separate rooms for offices or consultations
- Built in 1938
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
$8,587
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
5.73%
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%
$171,740
$171.7K
Cap Rate 7%
$122,671
$122.7K
Cap Rate 9%
$95,411
$95.4K
Market Conditions
NOI Build-Up for 975 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
$12.3K $12.60/SF
− Vacancy
−$835 −$0.86/SF
EGI
$11.4K $11.74/SF
− OpEx
−$2.9K −$2.94/SF
NOI
$8.6K $8.81/SF
Area
Pope County, AR
Vacancy
6.80%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$171,740
Cap Rate 7%
$122,671
Cap Rate 9%
$95,411
Alternative Uses
Best Use
Office B
$122.7K
$107.3K – $143.1K
NOI $8,587 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$155.8K
$136.3K – $181.7K
NOI $10,904 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three separate rooms support office or consultation use.
Where is this office units located?
The property is located at 501 W 3rd Place Russellville, AR.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 975 square feet of office space; Three separate rooms for offices or consultations; Built in 1938
