Wedding Venue with Commercial
For Sale
$270,000
1715 Main, North Little Rock, AR 72114
Banquet facility with two event rooms, office space, catering infrastructure, and attached storage for venue operations.
Property Size3,640 SF
Price / SF$74.18
Days on Market38
Property Features for 1715 Main
General Information
Standard status
Active
Size
3,640 SF
Additional Details
Equipment Included
No
Amenities
two banquet rooms
private office
commercial kitchen
dedicated dishwashing room
oversized attached garage
Building Details
Year Built
1960
Listing Agency:
Capital Real Estate Advisors
(501) 351-1735
Listed By:
Irma Wilkerson
Source:
Themoverealty
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 25 at 5:42AM
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 Capital Real Estate Advisors
Investment Insights
Based on property information with market context.
This 3,640-square-foot wedding and event venue, built in 1960, combines guest-serving areas with dedicated catering support. The layout includes two banquet rooms and a private office, along with a commercial kitchen equipped with an oven, walk-in cooler, 25-count food warmer, and prep tables. A separate dishwashing room provides a commercial dishwasher and multiple sinks.
An oversized attached garage adds storage for catering supplies and smallwares and includes room for a delivery van. The property is located on Main Street in North Little Rock, with the Argenta District a short distance away. Equipment, supplies, and the van are excluded from the building sale but may be purchased separately.
An oversized attached garage adds storage for catering supplies and smallwares and includes room for a delivery van. The property is located on Main Street in North Little Rock, with the Argenta District a short distance away. Equipment, supplies, and the van are excluded from the building sale but may be purchased separately.
Key Highlights
- 3,640 SF wedding and event venue on Main Street in North Little Rock
- Two banquet rooms plus one private office
- Commercial kitchen with oven, walk‑in cooler, prep tables, and 25‑count food warmer
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
$16,001
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
5.93%
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%
$320,020
$320.0K
Cap Rate 7%
$228,586
$228.6K
Cap Rate 9%
$177,789
$177.8K
Market Conditions
NOI Build-Up for 3,640 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
$24.0K $6.60/SF
− Vacancy
−$1.2K −$0.32/SF
EGI
$22.9K $6.28/SF
− OpEx
−$6.9K −$1.88/SF
NOI
$16.0K $4.40/SF
Area
Pulaski County, AR
Vacancy
4.85%
Lease Rate
$6.60 /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%
$320,020
Cap Rate 7%
$228,586
Cap Rate 9%
$177,789
Alternative Uses
Best Use
Specialty Retail
$694.3K
$607.5K – $810.1K
NOI $48,603 @ 7.0% cap · market cap 18.00%
Second Best
Industrial
$228.6K
$200.0K – $266.7K
NOI $16,001 @ 7.0% cap · market cap 5.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 66%
Shops & Services 34%
Best Western Plus JFK Inn & Suites
Hotels & Casinos
1,738 visits/mo
0.5 miles
Valero Energy
Shops & Services
914 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Wedding venue - Banquet facility with two event rooms, office space, catering infrastructure, and attached storage for venue operations.
Where is this wedding venue located?
The property is located at 1715 Main North Little Rock, AR.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 3,640 SF wedding and event venue on Main Street in North Little Rock; Two banquet rooms plus one private office; Commercial kitchen with oven, walk‑in cooler, prep tables, and 25‑count food warmer
