General Commercial Office
For Sale
Contact for pricing
3500 S University Ave, Little Rock, AR 72204
Zoned C3 with 7,544 SF office space and 65 parking spaces less than five miles to I-630.
Property Size7,544 SF
Lot Size1.00 Acre
Price / SF$105.91
Days on Market386
Property Features for 3500 S University Ave
General Information
Standard status
Active
Size
7,544 SF
Total Parking Spaces
65
Lot size
1.00 Acre
Property subtype
OFFICE
Zoning
C3
Additional Details
Highway Access
Yes
Building Details
Building Size
7,544 SF
Listing Agency:
Colliers - Little Rock
(501) 372-6161
Listed By:
Greg Joslin, CCIM, SIOR · License #SA00077922
Source:
Moodyscre
Added: Jul 21, 2025
Changed: Jul 30
Last Checked: Aug 10 at 8:03AM
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 Colliers - Little Rock
Investment Insights
Based on property information with market context.
This general commercial office building offers 7,544 SF on a +/- 1 acre lot, with 65 parking spaces for employee and visitor access. The property is zoned C3 - General Commercial, supporting a range of general commercial uses.
The building sits less than five miles to I-630, providing convenient regional connectivity. It is also located along South University, where traffic is approximately 22,000 vehicles per day on South University.
For tenants and buyers seeking a commercial office environment with straightforward parking and C3 zoning, the combination of size, parking count, and highway proximity is designed to support day-to-day business operations.
The building sits less than five miles to I-630, providing convenient regional connectivity. It is also located along South University, where traffic is approximately 22,000 vehicles per day on South University.
For tenants and buyers seeking a commercial office environment with straightforward parking and C3 zoning, the combination of size, parking count, and highway proximity is designed to support day-to-day business operations.
Key Highlights
- 7,544 SF office building on a +/- 1 acre lot
- Zoned C3 - General Commercial
- 65 parking spaces
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
$71,828
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
8.99%
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%
$1,436,560
$1.4M
Cap Rate 7%
$1,026,114
$1.0M
Cap Rate 9%
$798,089
$798.1K
Market Conditions
NOI Build-Up for 7,544 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
$107.7K $14.28/SF
− Vacancy
−$12.0K −$1.59/SF
EGI
$95.8K $12.69/SF
− OpEx
−$23.9K −$3.17/SF
NOI
$71.8K $9.52/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$14.28 /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%
$1,436,560
Cap Rate 7%
$1,026,114
Cap Rate 9%
$798,089
Alternative Uses
Best Use
Office B
$1.03M
$897.9K – $1.20M
NOI $71,828 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,931 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
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?
Office building - Zoned C3 with 7,544 SF office space and 65 parking spaces less than five miles to I-630.
Where is this office building located?
The property is located at 3500 S University Ave Little Rock, AR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 7,544 SF office building on a +/- 1 acre lot; Zoned C3 - General Commercial; 65 parking spaces
