Event Center Property with Horse
For Sale
$1,200,000
700 Russenberger Road, Little Rock, AR 72206
COMMERCIAL - Little Rock, AR
Property Size2,290 SF
Lot Size8.15 Acres
Price / SF$99.26
Days on Market273
Property Features for 700 Russenberger Road
General Information
Property type
Commercial Sale
Property subtype
Other
Interior features
220 Volt Power, Kitchen Area, Ceiling Fans
Exterior features
Fully Fenced, Roof Sign, Overhead Doors
Fencing
Full
Subdivision
Flavia
Lot features
Level, Rural Property
Directions
From Little Rock take I-530 to Dixon Rd. exit to west on Dixon Rd. to left on Ironton Rd. Ironton Rd. to right on Russenberger Rd.
Standard status
Active
Size
12,090 SF
Lot size
8.15 Acres
Taxes and HOA fees
Tax Description
Provided by Title Commitment
Tax Annual Amount
7977
Legal Description
Provided by Title Commitment
Building Details
Year built
2001
Floors in Building
1
Flooring type
Carpet - Partial, Vinyl
Roof type
Metal
Listing Agency:
Access Realty, Inc.
(501) 228-0018
Listed By:
Rocky Herman
(501) 240-9172
Added: Nov 12, 2025
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 25046082
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.
Mixed use event center property on 8.15 acres featuring four buildings currently used as an event center (totaling 4,000 sf), plus an office building (2,290 sf). The site also includes a 2,900 sf mechanic's workshop with two (2) bay doors and a 2,100 sf horse barn with 10 stalls that can be converted to storage space. Improvements include a kitchen area, ceiling fans, 220 volt power, and partial carpet with vinyl flooring.
Exterior features include a fully fenced site, roof sign, overhead doors, and a metal roof. The property was built in 2001 and offers a versatile layout supporting event operations alongside functional back-of-house space.
With multiple dedicated buildings and light industrial support features, the property can accommodate event programming while maintaining separate-use space for day-to-day operations.
Exterior features include a fully fenced site, roof sign, overhead doors, and a metal roof. The property was built in 2001 and offers a versatile layout supporting event operations alongside functional back-of-house space.
With multiple dedicated buildings and light industrial support features, the property can accommodate event programming while maintaining separate-use space for day-to-day operations.
Key Highlights
- 8.15‑acre mixed use event center site built in 2001
- Four event center buildings totaling 4,000 sf
- Office building totaling 2,290 sf on‑site
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
$45,440
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
3.79%
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%
$908,800
$908.8K
Cap Rate 7%
$649,143
$649.1K
Cap Rate 9%
$504,889
$504.9K
Market Conditions
NOI Build-Up for 12,090 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
$68.2K $5.64/SF
− Vacancy
−$3.3K −$0.27/SF
EGI
$64.9K $5.37/SF
− OpEx
−$19.5K −$1.61/SF
NOI
$45.4K $3.76/SF
Area
Little Rock, AR
Vacancy
4.80%
Lease Rate
$5.64 /SF/Yr
Expense Ratio
30.00%
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%
$908,800
Cap Rate 7%
$649,143
Cap Rate 9%
$504,889
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $115,111 @ 7.0% cap · market cap 9.59%
Second Best
Industrial
$649.1K
$568.0K – $757.3K
NOI $45,440 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,740 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 72206, AR
22,974
Population
10,080
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
111.6 sq mi
ZIP Area
206
Density / Sq Mi
$49,145
Median Household Income
$35,157
Median Earnings
$910
Median Rent
$132,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Multi-building event center site with an on-site office, mechanic's workshop, and horse barn with 10 stalls.
Where is this wedding venue located?
The property is located at 700 Russenberger Road Little Rock, AR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8.15‑acre mixed use event center site built in 2001; Four event center buildings totaling 4,000 sf; Office building totaling 2,290 sf on‑site
