Multi-Tenant Office
New
For Sale
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324 Pershing Boulevard, North Little Rock, AR 72114
Occupied office property with corner positioning, on-site parking, and interstate access.
Property Size11,176 SF
Lot Size1.03 Acres
Price / SF$94
Days on Market7
Property Features for 324 Pershing Boulevard
General Information
Standard status
Active
Size
11,176 SF
Lot size
1.03 Acres
Property subtype
Office
Zoning
C-1
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
RPM Group
Listed By:
John Lindsey · License #SA00094506
(501) 230-6233
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 19 at 6:31AM
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 RPM Group
Investment Insights
Based on property information with market context.
This office building contains 11,176 SF of space across a multi-tenant configuration and is fully occupied. The property sits on 1.03 acres and carries C-1 zoning, with dedicated parking serving the building.
Located at 324 Pershing Boulevard in North Little Rock, the property occupies a corner position with access to I-40 and I-30. Its office layout, existing occupancy, and established parking improvements support continued commercial office use.
Located at 324 Pershing Boulevard in North Little Rock, the property occupies a corner position with access to I-40 and I-30. Its office layout, existing occupancy, and established parking improvements support continued commercial office use.
Key Highlights
- 11,176 SF office building on 1.03 acres
- Fully occupied multi‑tenant office configuration
- C‑1 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
$93,468
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
8.90%
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%
$1,869,360
$1.9M
Cap Rate 7%
$1,335,257
$1.3M
Cap Rate 9%
$1,038,533
$1.0M
Market Conditions
NOI Build-Up for 11,176 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
$140.8K $12.60/SF
− Vacancy
−$16.2K −$1.45/SF
EGI
$124.6K $11.15/SF
− OpEx
−$31.2K −$2.79/SF
NOI
$93.5K $8.36/SF
Area
Pulaski County, AR
Vacancy
11.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,869,360
Cap Rate 7%
$1,335,257
Cap Rate 9%
$1,038,533
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,468 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.13M
$1.87M – $2.49M
NOI $149,228 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 72114, AR
10,957
Population
6,733
Households
1.6
Avg Household Size
38
Median Age
19%
College-Educated
84%
High-School Grad
7.7 sq mi
ZIP Area
1,423
Density / Sq Mi
$28,594
Median Household Income
$27,564
Median Earnings
$781
Median Rent
$87,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Occupied office property with corner positioning, on-site parking, and interstate access.
Where is this office building located?
The property is located at 324 Pershing Boulevard North Little Rock, AR.
What is the asking price?
The asking price for this property is $1,050,544.
What are key features of this property?
This property features: 11,176 SF office building on 1.03 acres; Fully occupied multi‑tenant office configuration; C‑1 zoning
