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    Retail/Office Building with Parking Lot Title is generated by Realmo AI

    618 S Center Street, Little Rock, AR 72201

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    For Sale
    $750,000

    Building and Land, Spanish - Little Rock, AR

    Property size:
    13,790 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $54/SF
    Added:
    May 14, 2025
    Days on Market:
    366
    Last Refresh:
    May 14 at 3:06 am

    Property Features for 618 S Center Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    32
    Interior features
    Display Window
    Exterior features
    Door Sign
    Standard status
    Active
    Size
    13,790 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8275

    Utilities

    Heating system
    Central, Natural Gas, Zoned (Heating)
    Cooling system
    Central Air, Electric, Multi Units, Zoned

    Building Details

    Year built
    1928
    Floors in Building
    1
    Flooring type
    Carpet, Carpet - Full
    Building materials
    Brick
    Roof type
    Built-Up
    Architectural style
    Spanish

    We can help!

    Listing Contact
    Brooks McRae
    Brooks McRae

    Listing agent Brooks McRae

    Listing office McKimmey Associates REALTORS NLR 5317 John F Kennedy Blvd, North Little Rock, AR

    Listing date May 14, 2025

    MLS# 25019133 Listing URL

    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.

    HighLights

    • Prime Retail Location: Situated on Center Street and 7th Street, offering high visibility and accessibility.
    • Ample Parking: Includes a .13‑acre parking lot with 32 marked spaces, providing convenient access.
    • Versatile Retail/Office Spaces: Features up to 4 retail bays on Center Street and 5 office/retail spaces on 7th Street.
    • Zoned HVAC System: Equipped with central heating and cooling, with zoned climate control.
    • Durable Brick Construction: Built with brick, offering a classic aesthetic and long‑lasting durability.
    • Unique Spanish architectural style adding character and curb appeal.

    Overview

    This property features a retail building with up to four retail bays on Center Street and five office/retail spaces on 7th Street. The property includes a 0.13-acre parking lot on 7th Street at the rear of the building, with 32 marked spaces and full access to 16 spaces. The building has a size of 13790 square feet and is situated on a 0.32-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sophisticated Wigs Clothing & Fashion Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.274169
    Latitude
    34.742735

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    FAQs

    What type of property is this?
    Retail space - Retail and office building with parking lot in Little Rock.
    Where is this retail space located?
    The property is located at 618 S Center Street Little Rock, AR.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Prime Retail Location: Situated on Center Street and 7th Street, offering high visibility and accessibility.; Ample Parking: Includes a .13‑acre parking lot with 32 marked spaces, providing convenient access.; Versatile Retail/Office Spaces: Features up to 4 retail bays on Center Street and 5 office/retail spaces on 7th Street.
    (501) 960-8501
    We can help!
    Listing Contact
    Brooks McRae
    Brooks McRae
    Learn More
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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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