Three-Bay Auto Shop with
For Sale
$300,000
24305 Highway 365 N, North Little Rock, AR 72113
Standalone auto facility with three car bays, central AC, and an included small office and bathroom.
Property Size1,400 SF
Price / SF$214.29
Days on Market81
Property Features for 24305 Highway 365 N
General Information
Standard status
Active
Size
1,400 SF
Additional Details
Service Bays
3
Listing Agency:
Crye-Leike REALTORS Maumelle
(501) 580-7653
Listed By:
Kim Burks
(501) 580-7653
Source:
Exprealty
Added: May 22
Changed: Jul 10
Last Checked: Aug 9 at 9:48AM
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 Crye-Leike REALTORS Maumelle
Investment Insights
Based on property information with market context.
This property consists of a three-bay auto shop with an attached small office area. The layout includes central AC, a bathroom with a toilet and sink, and three dedicated car bays designed for vehicle service work. The existing configuration supports an automotive operation where workspace flexibility is important.
The facility is located at 24305 Highway 365 N in North Little Rock, AR, with room around the building that may support additional business use. An adjoining residential home on 1 acre is listed separately and is available next to the shop, and property behind the facility is also available. This setup may be useful for operators considering expansion or additional on-site arrangements.
For buyers looking for an automotive-ready building, the combination of three bays and basic office services provides a workable setup for an auto shop, car lot, or detailing shop. The presence of central AC and an on-site bathroom can help support day-to-day operations for staff and customers. If you need more space or want options to add adjacent uses, the available neighboring residential home and the additional land behind the property are worth reviewing.
The facility is located at 24305 Highway 365 N in North Little Rock, AR, with room around the building that may support additional business use. An adjoining residential home on 1 acre is listed separately and is available next to the shop, and property behind the facility is also available. This setup may be useful for operators considering expansion or additional on-site arrangements.
For buyers looking for an automotive-ready building, the combination of three bays and basic office services provides a workable setup for an auto shop, car lot, or detailing shop. The presence of central AC and an on-site bathroom can help support day-to-day operations for staff and customers. If you need more space or want options to add adjacent uses, the available neighboring residential home and the additional land behind the property are worth reviewing.
Key Highlights
- Standalone auto facility with 3 car bays and included small office space
- Central AC for climate control
- On‑site bathroom with toilet and sink
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
$12,920
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
4.31%
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%
$258,400
$258.4K
Cap Rate 7%
$184,571
$184.6K
Cap Rate 9%
$143,556
$143.6K
Market Conditions
NOI Build-Up for 1,400 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
$19.7K $14.04/SF
− Vacancy
−$1.2K −$0.86/SF
EGI
$18.5K $13.18/SF
− OpEx
−$5.5K −$3.96/SF
NOI
$12.9K $9.23/SF
Area
Pulaski County, AR
Vacancy
6.10%
Lease Rate
$14.04 /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%
$258,400
Cap Rate 7%
$184,571
Cap Rate 9%
$143,556
Alternative Uses
Best Use
Retail
$184.6K
$161.5K – $215.3K
NOI $12,920 @ 7.0% cap · market cap 4.31%
Second Best
Industrial
$87.9K
$76.9K – $102.6K
NOI $6,154 @ 7.0% cap · market cap 2.05%
Theoretical Best
Specialty Retail
$267.1K
$233.7K – $311.6K
NOI $18,694 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72113, AR
25,930
Population
12,260
Households
2.1
Avg Household Size
38
Median Age
46%
College-Educated
96%
High-School Grad
26.3 sq mi
ZIP Area
986
Density / Sq Mi
$72,054
Median Household Income
$46,212
Median Earnings
$1,084
Median Rent
$275,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Wallace Auto Sales & Serivce — 23325 AR-365, North Little Rock, AR 72113
- Hilliard Enterprises, Inc. — 25221 AR-365 North, North Little Rock, AR 72113
- Franklin Paint & Body Shop — Arkansas 72113
Frequently Asked Questions
What type of property is this?
Auto shop - Standalone auto facility with three car bays, central AC, and an included small office and bathroom.
Where is this auto shop located?
The property is located at 24305 Highway 365 N North Little Rock, AR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Standalone auto facility with 3 car bays and included small office space; Central AC for climate control; On‑site bathroom with toilet and sink
