22-Unit Apartment
For Sale
$1,900,000
3200 S Olive St, Pine Bluff, AR 71603
Multifamily property with 19 occupied units and plumbing prepared for two additional buildings.
Property Size28,160 SF
Price / SF$67.47
Days on Market17
Property Features for 3200 S Olive St
General Information
Standard status
Active
Size
28,160 SF
Building Details
Year Built
1982
Listing Agency:
Resource Realty
(850) 400-2299
Listed By:
Della Wallace · License #EB00054346
Source:
Pcsingtolittlerock
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 8:39PM
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 Resource Realty
Investment Insights
Based on property information with market context.
This apartment complex at 3200 S Olive St in Pine Bluff, Arkansas, contains 22 units across 28,160 square feet. Built in 1982, the property currently has 19 rented units, representing 86% occupancy. Existing plumbing has been installed for two additional buildings, and the site includes room for expansion.
The property is positioned on a spacious lot within the Pine Bluff market. Its existing unit count, current occupancy, and partially established infrastructure provide a clear physical profile for continued multifamily operations and future site development.
The property is positioned on a spacious lot within the Pine Bluff market. Its existing unit count, current occupancy, and partially established infrastructure provide a clear physical profile for continued multifamily operations and future site development.
Key Highlights
- 22‑unit apartment complex built in 1982
- 28,160 square feet of property size
- 19 units rented; 86% occupancy
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
$167,642
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
8.82%
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%
$3,352,840
$3.4M
Cap Rate 7%
$2,394,886
$2.4M
Cap Rate 9%
$1,862,689
$1.9M
Market Conditions
NOI Build-Up for 28,160 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
$337.9K $12.00/SF
− Vacancy
−$33.1K −$1.18/SF
EGI
$304.8K $10.82/SF
− OpEx
−$137.2K −$4.87/SF
NOI
$167.6K $5.95/SF
Area
Jefferson County, AR
Vacancy
9.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,352,840
Cap Rate 7%
$2,394,886
Cap Rate 9%
$1,862,689
Alternative Uses
Best Use
Apartment 5plus
$2.39M
$2.10M – $2.79M
NOI $167,642 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.22M
$6.32M – $8.42M
NOI $505,382 @ 7.0% cap · market cap 26.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 71603, AR
30,236
Population
13,997
Households
2.2
Avg Household Size
43
Median Age
24%
College-Educated
90%
High-School Grad
167.8 sq mi
ZIP Area
180
Density / Sq Mi
$51,019
Median Household Income
$35,833
Median Earnings
$859
Median Rent
$116,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with 19 occupied units and plumbing prepared for two additional buildings.
Where is this apartment building located?
The property is located at 3200 S Olive St Pine Bluff, AR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 22‑unit apartment complex built in 1982; 28,160 square feet of property size; 19 units rented; 86% occupancy
