Freestanding Office Building Near
For Sale
$480,000
4324 W Markham St, Little Rock, AR 72205
Freestanding office building leased to UAMS, ideal investment opportunity.
Property Size2,736 SF
Price / SF$175.44
Days on Market272
Property Features for 4324 W Markham St
General Information
Standard status
Active
Size
2,736 SF
Class
C
Property subtype
Office
Building Details
Building Size
2,736 SF
Listing Agency:
Kelley Commercial Partners
(501) 831-2984
Listed By:
Brooke Miller · License #SA00065432
(501) 831-2984
Source:
Kelleycommercialpartners
Added: Nov 21, 2025
Changed: Aug 19
Last Checked: Aug 19 at 6:20AM
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 Kelley Commercial Partners
Investment Insights
Based on property information with market context.
This freestanding office building, encompassing approximately 2,736 square feet, is situated on a ±0.14-acre lot. Located across the street from UAMS, at the corner of W. Markham St and Walnut St, the property features a dedicated parking lot in both the front and back of the building. The property is currently 100% leased to UAMS.
Key Highlights
- 100% Leased to UAMS (University of Arkansas for Medical Sciences)
- Located across the street from UAMS
- Freestanding ±2,736 SF Building on ±0.14 Acres
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
$26,094
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
5.44%
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%
$521,880
$521.9K
Cap Rate 7%
$372,771
$372.8K
Cap Rate 9%
$289,933
$289.9K
Market Conditions
NOI Build-Up for 2,736 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
$48.9K $17.88/SF
− Vacancy
−$5.4K −$1.98/SF
EGI
$43.5K $15.90/SF
− OpEx
−$17.4K −$6.36/SF
NOI
$26.1K $9.54/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
40.00%
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%
$521,880
Cap Rate 7%
$372,771
Cap Rate 9%
$289,933
Alternative Uses
Best Use
Healthcare Medical
$372.8K
$326.2K – $434.9K
NOI $26,094 @ 7.0% cap · market cap 5.44%
Second Best
Office B
$372.1K
$325.6K – $434.2K
NOI $26,050 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$497.0K
$434.9K – $579.9K
NOI $34,792 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,937
Businesses Nearby
Explore this area
Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
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?
Office building - Freestanding office building leased to UAMS, ideal investment opportunity.
Where is this office building located?
The property is located at 4324 W Markham St Little Rock, AR.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 100% Leased to UAMS (University of Arkansas for Medical Sciences); Located across the street from UAMS; Freestanding ±2,736 SF Building on ±0.14 Acres
