Storefront Property with Highway
For Sale
$645,000
109 E Pershing Blvd, North Little Rock, AR 72114
COMMERCIAL - North Little Rock, AR
Property Size6,930 SF
Lot Size0.80 Acres
Price / SF$93.07
Days on Market734
Property Features for 109 E Pershing Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
40
Subdivision
Grove
Lot features
Level
Directions
From I-30 take exit 143A to Hwy 107 North. Turn left and proceed .03 miles to E Pershing Blvd. Turn left, 450 ft. and property is on left.
Standard status
Active
Size
6,930 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
LT E-18
Tax Annual Amount
6002
Legal Description
LT E-18
Building Details
Year built
1967
Floors in Building
1
Flooring type
Concrete
Roof type
Built-Up, Shingle
Architectural style
Other
Listing Agency:
McKimmey Associates REALTORS NLR
(501) 812-3500
Listed By:
John Hall
(501) 831-1762
Added: Aug 8, 2024
Changed: Aug 10
Last Checked: Aug 11 at 10:06PM
MLS# 24028738
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.
This 6,930-square-foot storefront property occupies a 0.8-acre parcel and includes a 90' by 77' building. The interior is configured for renovation, with potential office, retail, or restaurant applications supported by the C-3 zoning. Concrete flooring and a built-up and shingle roof are among the existing building features. Constructed in 1967, the property offers a substantial commercial footprint for a range of interior layouts.
Located at 109 E Pershing Blvd in North Little Rock, the property benefits from exposure to I-40, where approximately 99,000 vehicles pass daily. Its position within Pulaski County provides a visible setting for a storefront-oriented commercial operation.
Located at 109 E Pershing Blvd in North Little Rock, the property benefits from exposure to I-40, where approximately 99,000 vehicles pass daily. Its position within Pulaski County provides a visible setting for a storefront-oriented commercial operation.
Key Highlights
- 6,930‑square‑foot building on a 0.8‑acre parcel
- 90' x 77' building dimensions
- C‑3 zoning supports office, retail, or restaurant use
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
$57,957
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
8.99%
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%
$1,159,140
$1.2M
Cap Rate 7%
$827,957
$828.0K
Cap Rate 9%
$643,967
$644.0K
Market Conditions
NOI Build-Up for 6,930 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
$87.3K $12.60/SF
− Vacancy
−$10.0K −$1.45/SF
EGI
$77.3K $11.15/SF
− OpEx
−$19.3K −$2.79/SF
NOI
$58.0K $8.36/SF
Area
Pulaski County, AR
Vacancy
11.50%
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%
$1,159,140
Cap Rate 7%
$827,957
Cap Rate 9%
$643,967
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,533 @ 7.0% cap · market cap 14.35%
Second Best
Retail
$913.6K
$799.4K – $1.07M
NOI $63,953 @ 7.0% cap · market cap 9.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
99,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72114, AR
10,957
Population
6,733
Households
1.6
Avg Household Size
38
Median Age
19%
College-Educated
84%
High-School Grad
7.7 sq mi
ZIP Area
1,423
Density / Sq Mi
$28,594
Median Household Income
$27,564
Median Earnings
$781
Median Rent
$87,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Buds N Bows — 3424 Camp Robinson Rd, North Little Rock, AR 72118
Frequently Asked Questions
What type of property is this?
Storefront property - C-3-zoned storefront offering a renovation-ready interior for office, retail, or restaurant use.
Where is this storefront property located?
The property is located at 109 E Pershing Blvd North Little Rock, AR.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 6,930‑square‑foot building on a 0.8‑acre parcel; 90' x 77' building dimensions; C‑3 zoning supports office, retail, or restaurant use
