Historic Wedding Venue with
For Sale
Contact for pricing
401 Scott St, Little Rock, AR 72201
Elevator-served event property with commercial kitchens, meeting rooms, offices, and extensive on-site parking.
Property Size18,000 SF
Lot Size1.07 Acres
Price / SF$154.17
Days on Market237
Property Features for 401 Scott St
General Information
Standard status
Active
Size
18,000 SF
Total Parking Spaces
60
Elevators
Yes
Lot size
1.07 Acres
Property subtype
OFFICE
Additional Details
Business Included
Yes
Road Access
Yes
Amenities
Grand ballroom
Commercial kitchen
Warming kitchen
Multiple meeting rooms
Board room
Open lounge area
High ceilings
Abundant natural light
Original wood floors
Building Details
Buildings
1
Building Size
18,000 SF
Listing Agency:
Hathaway Group
(501) 663-5400
Listed By:
Stuart Mackey · License #EB00046466
(501) 529-4965
Source:
Moodyscre
Added: Jan 13
Changed: Sep 4
Last Checked: Aug 30 at 7:24PM
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 Hathaway Group
Investment Insights
Based on property information with market context.
This historic 18,000-square-foot building occupies a 1.07-acre, three-parcel assemblage at the corner of 4th and Scott Streets. The event facility includes a grand ballroom accommodating up to 375 guests, a commercial kitchen, and a separate warming kitchen on the ballroom level. Multiple meeting rooms support training, seminars, and board functions, while executive office suites on the third floor include a board room, open lounge, restroom, and breakroom. Offices are located throughout the elevator-served building, which also features high ceilings, abundant natural light, and original wood floors.
Parking areas connect to 4th Street, Scott Street, and Cumberland Street, with 60+ on-site spaces. The property is one block from Main Street dining, the Historic Arkansas Museum, and hotels, and is located within several blocks of Stephens headquarters, the River Market, and Little Rock Technology Park. I-30 Crossing Park and the Arkansas Museum of Fine Art are also accessible from the site.
Parking areas connect to 4th Street, Scott Street, and Cumberland Street, with 60+ on-site spaces. The property is one block from Main Street dining, the Historic Arkansas Museum, and hotels, and is located within several blocks of Stephens headquarters, the River Market, and Little Rock Technology Park. I-30 Crossing Park and the Arkansas Museum of Fine Art are also accessible from the site.
Key Highlights
- 18,000± SF historic building on a 1.07‑acre three‑parcel assemblage
- Grand ballroom accommodates up to 375 guests
- 60+ on‑site parking spaces with access to 4th, Scott, and Cumberland Streets
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
$171,381
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
6.18%
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%
$3,427,620
$3.4M
Cap Rate 7%
$2,448,300
$2.4M
Cap Rate 9%
$1,904,233
$1.9M
Market Conditions
NOI Build-Up for 18,000 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
$257.0K $14.28/SF
− Vacancy
−$28.5K −$1.59/SF
EGI
$228.5K $12.69/SF
− OpEx
−$57.1K −$3.17/SF
NOI
$171.4K $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%
$3,427,620
Cap Rate 7%
$2,448,300
Cap Rate 9%
$1,904,233
Alternative Uses
Best Use
Office B
$2.45M
$2.14M – $2.86M
NOI $171,381 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.27M
$2.86M – $3.81M
NOI $228,893 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
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?
Wedding venue - Elevator-served event property with commercial kitchens, meeting rooms, offices, and extensive on-site parking.
Where is this wedding venue located?
The property is located at 401 Scott St Little Rock, AR.
What is the asking price?
The asking price for this property is $2,775,000.
What are key features of this property?
This property features: 18,000± SF historic building on a 1.07‑acre three‑parcel assemblage; Grand ballroom accommodates up to 375 guests; 60+ on‑site parking spaces with access to 4th, Scott, and Cumberland Streets
