Greek Revival Wedding Venue
For Sale
$995,000
411 Bishop Lindsey Ave, North Little Rock, AR 72114
Two-story mansion with event, hospitality, and private-estate potential across landscaped grounds.
Property Size6,514 SF
Price / SF$152.75
Days on Market95
Property Features for 411 Bishop Lindsey Ave
General Information
Standard status
Active
Size
6,514 SF
Taxes and HOA fees
Annual Taxes
$19,000
Listing Agency:
Hathaway Group
(501) 786-0024
Listed By:
Stacy Hamilton
(501) 786-0024
Source:
Exprealty
Added: May 30
Changed: Aug 30
Last Checked: Aug 31 at 8:07PM
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.
Built in 1840, this two-story Greek Revival mansion combines a Colonial Revival interior with substantial historic architectural detail. The 6,514-square-foot property includes 14-foot ceilings, a six-column Ionic portico, a dramatic skylight, front and rear staircases, and three glass-enclosed rooms. A separate carriage house with garage adds to the overall estate configuration, while the building is elevator-ready.
The property encompasses 1.85 acres across 12 city lots in the MacArthur Park Historic District. Its stated use potential includes a boutique hotel, signature event venue, or luxury private estate. Federal and State Historic Tax Credits are available to qualified buyers pursuing rehabilitation.
The property encompasses 1.85 acres across 12 city lots in the MacArthur Park Historic District. Its stated use potential includes a boutique hotel, signature event venue, or luxury private estate. Federal and State Historic Tax Credits are available to qualified buyers pursuing rehabilitation.
Key Highlights
- 1840 construction with Greek Revival architecture and Colonial Revival interior design
- 6,514‑square‑foot mansion on 1.85 acres across 12 city lots
- Six‑column Ionic portico, 14‑foot ceilings, and dramatic skylight
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
$39,450
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
3.96%
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%
$789,000
$789.0K
Cap Rate 7%
$563,571
$563.6K
Cap Rate 9%
$438,333
$438.3K
Market Conditions
NOI Build-Up for 6,514 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
$97.7K $15.00/SF
− Vacancy
−$14.7K −$2.25/SF
EGI
$83.1K $12.75/SF
− OpEx
−$43.6K −$6.69/SF
NOI
$39.5K $6.06/SF
Area
Pulaski County, AR
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$789,000
Cap Rate 7%
$563,571
Cap Rate 9%
$438,333
Alternative Uses
Best Use
Hotel Hospitality
$563.6K
$493.1K – $657.5K
NOI $39,450 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $86,979 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
733
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Two-story mansion with event, hospitality, and private-estate potential across landscaped grounds.
Where is this wedding venue located?
The property is located at 411 Bishop Lindsey Ave North Little Rock, AR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1840 construction with Greek Revival architecture and Colonial Revival interior design; 6,514‑square‑foot mansion on 1.85 acres across 12 city lots; Six‑column Ionic portico, 14‑foot ceilings, and dramatic skylight
