Office and Restaurant Space
For Sale
Contact for pricing
1003 Dr MLK Jr Dr, Little Rock, AR
Office and restaurant space with quick access to amenities.
Property Size1,908 SF
Lot Size0.35 Acres
Price / SF$393.08
Days on Market260
Property Features for 1003 Dr MLK Jr Dr
General Information
Standard status
Active
Size
1,908 SF
Lot size
0.35 Acres
Property subtype
OFFICE
Lease Type
Modified Gross
Properties For Sale
at 1003 Dr MLK Jr Dr Contact us- Floor
- 2
- Size
- 1,908 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
2nd Floor Office For Lease
• Subway restaurant on first floor
• Quick access to I-630, State Capitol, SoMa,...
show more
Contact us
Listing Agency:
Colliers - Little Rock
(501) 372-6161
Listed By:
Bill Pendergist · License #SA00055180
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 12
Last Checked: Aug 12 at 10:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Little Rock
Investment Insights
Based on property information with market context.
This property offers office and restaurant space. A Subway restaurant is located on the first floor. The location provides quick access to I-630, the State Capitol, SoMa, and downtown. It is situated next to the Arkansas Children’s Hospital campus. The property encompasses a total area of 1908 square feet.
Key Highlights
- Subway restaurant on the first floor.
- Quick access to Arkansas Children’s Hospital campus.
- Quick access to I‑630.
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
$22,921
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
3.06%
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%
$458,420
$458.4K
Cap Rate 7%
$327,443
$327.4K
Cap Rate 9%
$254,678
$254.7K
Market Conditions
NOI Build-Up for 1,908 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
$32.5K $17.04/SF
− Vacancy
−$2.0K −$1.02/SF
EGI
$30.6K $16.02/SF
− OpEx
−$7.6K −$4.00/SF
NOI
$22.9K $12.01/SF
Area
Little Rock, AR
Vacancy
6.00%
Lease Rate
$17.04 /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%
$458,420
Cap Rate 7%
$327,443
Cap Rate 9%
$254,678
Alternative Uses
Best Use
Specialty Retail
$327.4K
$286.5K – $382.0K
NOI $22,921 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$305.6K
$267.4K – $356.6K
NOI $21,393 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$346.6K
$303.3K – $404.4K
NOI $24,263 @ 7.0% cap · market cap 3.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,862
Businesses Nearby
Explore this area
Business Placement
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 - Office and restaurant space with quick access to amenities.
Where is this office units located?
The property is located at 1003 Dr MLK Jr Dr 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: Subway restaurant on the first floor.; Quick access to Arkansas Children’s Hospital campus.; Quick access to I‑630.
