Freestanding Drive-Through
For Sale
Contact for pricing
10623 W Markham St, Little Rock, AR 72211
Freestanding 3,397 SF drive-thru restaurant on a 1.2-acre parcel with 54 parking spaces and pylon signage.
Property Size3,397 SF
Lot Size1.20 Acres
Price / SF$301.74
Days on Market241
Property Features for 10623 W Markham St
General Information
Standard status
Active
Size
3,397 SF
Total Parking Spaces
54
Lot size
1.20 Acres
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Pylon signs
Listing Agency:
Hathaway Group
(501) 663-5400
Listed By:
Jamie McLarty · License #SA000782
(501) 951-1812
Source:
Moodyscre
Added: Jan 15
Changed: Sep 2
Last Checked: Sep 12 at 9:55AM
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 Hathaway Group
Investment Insights
Based on property information with market context.
This freestanding drive-through restaurant includes 3,397 SF of building area on a 1.2-acre parcel. The site provides 54 parking spaces and is supported by pylon signage, including signage on I-430 and on Markham St.
The property offers convenient access and visibility to I-430. Wendy’s is currently operating at the location, and the seller requests that the business not be disturbed.
Please note that the listing reflects a stabilized, operating use at the property.
The property offers convenient access and visibility to I-430. Wendy’s is currently operating at the location, and the seller requests that the business not be disturbed.
Please note that the listing reflects a stabilized, operating use at the property.
Key Highlights
- 3,397 SF freestanding drive‑thru restaurant building
- 1.2‑acre parcel with 54 parking spaces
- Drive‑thru site with pylon signs on I‑430 and on Markham St
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
$40,809
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
3.98%
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%
$816,180
$816.2K
Cap Rate 7%
$582,986
$583.0K
Cap Rate 9%
$453,433
$453.4K
Market Conditions
NOI Build-Up for 3,397 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
$57.9K $17.04/SF
− Vacancy
−$3.5K −$1.02/SF
EGI
$54.4K $16.02/SF
− OpEx
−$13.6K −$4.00/SF
NOI
$40.8K $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%
$816,180
Cap Rate 7%
$582,986
Cap Rate 9%
$453,433
Alternative Uses
Best Use
Specialty Retail
$583.0K
$510.1K – $680.2K
NOI $40,809 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$617.1K
$540.0K – $720.0K
NOI $43,197 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 72211, AR
24,338
Population
12,009
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
97%
High-School Grad
8.3 sq mi
ZIP Area
2,932
Density / Sq Mi
$80,808
Median Household Income
$53,527
Median Earnings
$1,142
Median Rent
$257,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding 3,397 SF drive-thru restaurant on a 1.2-acre parcel with 54 parking spaces and pylon signage.
Where is this drive through restaurant located?
The property is located at 10623 W Markham St Little Rock, AR.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 3,397 SF freestanding drive‑thru restaurant building; 1.2‑acre parcel with 54 parking spaces; Drive‑thru site with pylon signs on I‑430 and on Markham St
