Class A Office
For Sale
Contact for pricing
2400 Crestwood Road, North Little Rock, AR 72116
Class A office building with abundant parking and currently vacant space for lease-up in North Little Rock.
Property Size22,048 SF
Price / SF$95.02
Days on Market51
Property Features for 2400 Crestwood Road
General Information
Standard status
Active
Size
22,048 SF
Class
A
Property subtype
Office
Zoning
C-3
Building Details
Year Built
2002
Listing Agency:
Colliers - Little Rock, Arkansas
Listed By:
Justin Bentley · License #AR SA00073436
(501) 372-6161
Source:
Crexi
Added: Jul 17
Changed: Aug 31
Last Checked: Sep 2 at 6:50AM
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.
2400 Crestwood Road is a well-maintained Class A office building offering an efficient floor plan and professional finishes. The property includes a combination of in-place tenancy and currently vacant space, creating an opportunity for lease-up. Parking is plentiful, supporting everyday access for staff and visitors.
Located at 2400 Crestwood Road in North Little Rock, AR 72116, the building is positioned in the established Lakewood business district and described as highly accessible. The offering is presented as suitable for a range of office users, including medical, financial, engineering, legal, government, and professional service firms.
For buyers seeking a fully formed office asset with the ability to address near-term space occupancy needs through lease-up, 2400 Crestwood presents a straightforward platform in North Little Rock’s office market.
Located at 2400 Crestwood Road in North Little Rock, AR 72116, the building is positioned in the established Lakewood business district and described as highly accessible. The offering is presented as suitable for a range of office users, including medical, financial, engineering, legal, government, and professional service firms.
For buyers seeking a fully formed office asset with the ability to address near-term space occupancy needs through lease-up, 2400 Crestwood presents a straightforward platform in North Little Rock’s office market.
Key Highlights
- Class A office building built in 2002
- 22,048 SF office building in North Little Rock’s Lakewood business district
- Currently has vacant space available for lease‑up
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
$184,393
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
8.80%
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%
$3,687,860
$3.7M
Cap Rate 7%
$2,634,186
$2.6M
Cap Rate 9%
$2,048,811
$2.0M
Market Conditions
NOI Build-Up for 22,048 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
$277.8K $12.60/SF
− Vacancy
−$31.9K −$1.45/SF
EGI
$245.9K $11.15/SF
− OpEx
−$61.5K −$2.79/SF
NOI
$184.4K $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%
$3,687,860
Cap Rate 7%
$2,634,186
Cap Rate 9%
$2,048,811
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.07M
NOI $184,393 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.21M
$3.68M – $4.91M
NOI $294,398 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
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 - Class A office building with abundant parking and currently vacant space for lease-up in North Little Rock.
Where is this office building located?
The property is located at 2400 Crestwood Road North Little Rock, AR.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: Class A office building built in 2002; 22,048 SF office building in North Little Rock’s Lakewood business district; Currently has vacant space available for lease‑up
