Flex Building with Overhead
For Sale
Contact for pricing
3224 Mabelvale Pike, Little Rock, AR 72204
Open warehouse/shop space is complemented by two private offices and parking for vehicles or equipment.
Property Size4,600 SF
Price / SF$86.74
Days on Market8
Property Features for 3224 Mabelvale Pike
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
10
Property subtype
Retail, Industrial, Mixed Use
Zoning
C+4
Occupancy
100%
Lease Type
Net
Additional Details
Road Access
Yes
Drive-In Doors
3
Building Details
Year Built
1960
Buildings
1
Tenancy
Single
Building Size
4,600 SF
Listing Agency:
LPT Realty
(501) 860-8306
Listed By:
Kelly Wei · License #EB 00074530
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 12:44PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This 1960 flex property contains approximately 4,600 SF of commercial space arranged for both office and work-oriented functions. The interior includes two private offices alongside a substantial open warehouse/shop area, while three overhead doors support access for vehicles or equipment. Parking is available on site.
The building is located at 3224 Mabelvale Pike in Little Rock, placing the property along Mabelvale Pike. A separate property at 5401 Asher Ave is also available for purchase, creating the possibility of acquiring both sites as part of a larger commercial assembly.
The building is located at 3224 Mabelvale Pike in Little Rock, placing the property along Mabelvale Pike. A separate property at 5401 Asher Ave is also available for purchase, creating the possibility of acquiring both sites as part of a larger commercial assembly.
Key Highlights
- Approximately 4,600 SF of flex space
- Two private offices and a large open warehouse/shop area
- Three overhead doors
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
$34,927
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
8.75%
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%
$698,540
$698.5K
Cap Rate 7%
$498,957
$499.0K
Cap Rate 9%
$388,078
$388.1K
Market Conditions
NOI Build-Up for 4,600 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
$57.4K $12.48/SF
− Vacancy
−$3.7K −$0.80/SF
EGI
$53.7K $11.68/SF
− OpEx
−$18.8K −$4.09/SF
NOI
$34.9K $7.59/SF
Area
Little Rock, AR
Vacancy
6.40%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
35.00%
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%
$698,540
Cap Rate 7%
$498,957
Cap Rate 9%
$388,078
Alternative Uses
Best Use
Office B
$625.7K
$547.5K – $730.0K
NOI $43,797 @ 7.0% cap · market cap 10.98%
Second Best
Flex RnD
$499.0K
$436.6K – $582.1K
NOI $34,927 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$835.6K
$731.2K – $974.9K
NOI $58,495 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72204, AR
31,564
Population
14,570
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
2,077
Density / Sq Mi
$39,088
Median Household Income
$29,733
Median Earnings
$1,016
Median Rent
$117,600
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?
Flex space - Open warehouse/shop space is complemented by two private offices and parking for vehicles or equipment.
Where is this flex space located?
The property is located at 3224 Mabelvale Pike Little Rock, AR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Approximately 4,600 SF of flex space; Two private offices and a large open warehouse/shop area; Three overhead doors
