Building Details

Tenancy Multi

Listing Agency: Arkansas Real Estate Collective Show Phone

Listed By: Wetzel Group Show Phone

Source: Connectrealtynwa

Added: Jul 20 Changed: Oct 10 Last Checked: Oct 14 at 10:40PM

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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 Arkansas Real Estate Collective

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Investment Insights

Based on property information with market context.

This 15,280-square-foot medical office property is occupied by multiple medical professionals and includes space that is currently available for a new occupant. The existing professional use provides a clear medical-office profile for continued occupancy or business relocation.

Located at 2504 W Main Street in Russellville, Arkansas, the property sits within the city’s business district. The available area offers an opportunity for a medical practice or related professional user to establish operations at the property.

Key Highlights

• 15,280 square feet of medical office space
• Occupied by multiple medical professionals
• Space currently available for occupancy

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$135,457

Cap Rate

5.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,709,140 $2.7M

Cap Rate 7%

$1,935,100 $1.9M

Cap Rate 9%

$1,505,078 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,280 SF

Gross rent

$229.2K $15.00/SF

− Vacancy

−$3.4K −$0.23/SF

EGI

$225.8K $14.78/SF

− OpEx

−$90.3K −$5.91/SF

NOI

$135.5K $8.87/SF

Area

Pope County, AR

Vacancy

1.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,709,140

Cap Rate 7%

$1,935,100

Cap Rate 9%

$1,505,078

Alternative Uses

Best Use

Healthcare Medical

$1.94M

$1.69M – $2.26M (±1% cap)

NOI $135,457 @ 7.0% cap · market cap 5.11%

Second Best

Office B

$1.92M

$1.68M – $2.24M (±1% cap)

NOI $134,577 @ 7.0% cap · market cap 5.08%

Theoretical Best

Office A

$2.44M

$2.14M – $2.85M (±1% cap)

NOI $170,892 @ 7.0% cap · market cap 6.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

CHI St. Vincent ... Physician Dr. Ted Honghiran, ... Physician Arkansas Urology Pa: ... Physician Prabhat Hebbar, MD Physician Donald Meacham, MD Physician

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

704

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 72801, AR

18,510

Population

7,530

Households

2.5

Avg Household Size

29

Median Age

26%

College-Educated

82%

High-School Grad

8.0 sq mi

ZIP Area

2,314

Density / Sq Mi

$42,363

Median Household Income

$22,473

Median Earnings

$837

Median Rent

$153,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office space with an available area for a new business or practitioner.

Where is this medical office space located?

The property is located at 2504 W Main Street Russellville, AR.

What is the asking price?

The asking price for this property is $2,650,000.

What are key features of this property?

This property features: 15,280 square feet of medical office space; Occupied by multiple medical professionals; Space currently available for occupancy