Medical Office Property with
For Sale
$2,650,000
2504 W Main Street, Russellville, AR 72801
CommercialSale, Russellville, AR
Property Size15,280 SF
Lot Size2.15 Acres
Price / SF$173.43
Days on Market1107
Property Features for 2504 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Appliances
WaterHeater
Subdivision
Hall
Lot features
Business Park, Outside City Limits, Level
Directions
Traveling West on Main, follow to 2504 across from PDQ.
Standard status
Active
APN
812-00004-000C, 812-00004-002C
Size
15,280 SF
Lot size
2.15 Acres
Taxes and HOA fees
Tax Description
LOTS 3&4&S16.5' 5&6 BLK A LTS 1-4&E/2 5&S29' LOTS 9-12 BLK B HALL Subdivision
Tax Annual Amount
13700
Legal Description
LOTS 3&4&S16.5' 5&6 BLK A LTS 1-4&E/2 5&S29' LOTS 9-12 BLK B HALL Subdivision
Utilities
Heating system
Central
Cooling system
Central Air, Electric
Building Details
Year built
1970
Building materials
Brick
Roof type
Metal
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
The Wetzel Group
(479) 970-0986
Added: Sep 25, 2023
Changed: Sep 25
Last Checked: Oct 5 at 1:06AM
MLS# AV23-1782
Copyright © 2026 ArkansasONE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 15,280-square-foot medical office property occupies 2.15 acres and is currently leased to multiple medical professionals, with space available for an additional business. The brick building was constructed in 1970 and features a metal roof, central heating, electric central air conditioning, and a water heater.
Located at 2504 W Main Street in Russellville, the property includes a dedicated parking lot and an accessible approach with ramp. C2 zoning supports its commercial office setting, while the existing medical occupancy provides an established professional-use configuration.
Located at 2504 W Main Street in Russellville, the property includes a dedicated parking lot and an accessible approach with ramp. C2 zoning supports its commercial office setting, while the existing medical occupancy provides an established professional-use configuration.
Key Highlights
- 15,280‑square‑foot medical office property on 2.15 acres
- Currently leased to multiple medical professionals with space available
- C2 zoning
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
$135,457
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
5.11%
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%
$2,709,140
$2.7M
Cap Rate 7%
$1,935,100
$1.9M
Cap Rate 9%
$1,505,078
$1.5M
Market Conditions
NOI Build-Up for 15,280 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
$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 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%
$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
NOI $135,457 @ 7.0% cap · market cap 5.11%
Second Best
Office B
$1.92M
$1.68M – $2.24M
NOI $134,577 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $170,892 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant medical office property with available space, C2 zoning, and on-site parking.
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‑foot medical office property on 2.15 acres; Currently leased to multiple medical professionals with space available; C2 zoning
