Freestanding Office NNN
215 Markham Center Dr Little Rock, AR 72205
215 Markham Center Dr, Little Rock, AR, 72205
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For Sale
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Fully occupied office building leased on a new 10-year NNN term with 2% annual escalations.
Property Size4,505 SF
Price / SF$303.44
Days on Market166
Property Features for 215 Markham Center Dr
General Information
- Standard status
- Active
- Size
- 4,505 SF
- Property subtype
- Office
Building Details
- Year Built
- 1994
Listing agency
Colliers - Little Rock, Arkansas
(501) 372-6161
Listed by
Justin Bentley · License #AR SA00073436
Source
Crexi
Added: Feb 6 Updated: Jul 22 at 1:33PM Checked: Jul 22 at 1:33PM
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, Arkansas
Investment Insights
Based on property information with market context.
Colliers Arkansas is pleased to offer investors the opportunity to acquire 215 Markham Center Drive, a fully occupied office building leased to Cardinal Health. The property is under a newly extended 10-year NNN lease with 2% annual rental escalations. Cardinal Health has occupied the facility since 1994, reflecting long-standing tenancy.
As part of the tenant’s renewal, the current ownership group has provided a six-figure tenant improvement allowance. The combination of a long-term, credit tenant and a recently extended lease structure supports the property’s focus on durable income.
The offering is presented as a turn-key, income-producing asset with Cardinal Health continuing as the sole occupant under the NNN lease terms described above.
As part of the tenant’s renewal, the current ownership group has provided a six-figure tenant improvement allowance. The combination of a long-term, credit tenant and a recently extended lease structure supports the property’s focus on durable income.
The offering is presented as a turn-key, income-producing asset with Cardinal Health continuing as the sole occupant under the NNN lease terms described above.
Key Highlights
- Office building built in 1994 and fully occupied by Cardinal Health
- New 10‑year NNN lease executed with Cardinal Health
- Lease includes 2% annual rental escalations
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.3k | $14.28 |
| − Vacancy | −$7.1k | −$1.59 |
| EGI | $57.2k | $12.69 |
| − OpEx | −$14.3k | −$3.17 |
| NOI | $42.9k | $9.52 |
4,505 SF · lease $14.28/SF/yr · vacancy 11.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$612.8K
$536.2K – $714.9K
NOI $42,893 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$818.4K
$716.1K – $954.8K
NOI $57,287 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cardinal Health
Pharmacy
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Fully occupied office building leased on a new 10-year NNN term with 2% annual escalations.
Where is this office building located?
The property is located at 215 Markham Center Dr Little Rock, AR.
What is the asking price?
The asking price for this property is $1,367,000.
What are key features of this property?
This property features: Office building built in 1994 and fully occupied by Cardinal Health; New 10‑year NNN lease executed with Cardinal Health; Lease includes 2% annual rental escalations
