Downtown Multifamily
For Sale
Contact for pricing
Pending
418 E 15th St, Little Rock, AR 72202
Twenty-two-unit portfolio features two recently renovated buildings under a master NNN lease generating $20,000 monthly.
Property Size3,768 SF
Days on Market130
Property Features for 418 E 15th St
General Information
Standard status
Pending
Size
3,768 SF
Property subtype
Multifamily
Investment Type
Value Add
Additional Details
Multifamily Units
6
Building Details
Year Built
1956
Year Renovated
2022
Units
6
Tenancy
Multi
Listing Agency:
Exp Commercial - Little Rock
Listed By:
Danny Brickey · License #PB00075279
(501) 666-7368
Source:
Crexi
Added: May 1
Changed: Aug 24
Last Checked: Sep 7 at 5:54AM
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 Exp Commercial - Little Rock
Investment Insights
Based on property information with market context.
This for-sale portfolio includes two multifamily buildings containing 22 total units. The properties are located at 315 E 6th Street and 418 E 15th Street and were renovated in 2022. The offering is available as a combined portfolio or individually.
The portfolio is secured by a master NNN lease currently generating $20,000 per month ($240,000 annually). Under the lease structure, the master tenant is responsible for utilities, maintenance, and operating expenses, supporting a true net-income approach with reduced landlord responsibilities.
Positioned in the Downtown Little Rock (72202) submarket, the buildings benefit from being in the heart of downtown, with stated proximity to major employment centers, medical institutions, entertainment districts, and ongoing redevelopment activity.
The portfolio is secured by a master NNN lease currently generating $20,000 per month ($240,000 annually). Under the lease structure, the master tenant is responsible for utilities, maintenance, and operating expenses, supporting a true net-income approach with reduced landlord responsibilities.
Positioned in the Downtown Little Rock (72202) submarket, the buildings benefit from being in the heart of downtown, with stated proximity to major employment centers, medical institutions, entertainment districts, and ongoing redevelopment activity.
Key Highlights
- 22‑unit downtown Little Rock multifamily portfolio across two buildings: 315 E 6th St (16 units) and 418 E 15th St (6 units)
- Master NNN lease in place, generating $20,000/month ($240,000 annually)
- Master tenant pays all utilities, maintenance, and operating expenses for a true net‑income structure
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
$30,454
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
3.58%
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%
$609,080
$609.1K
Cap Rate 7%
$435,057
$435.1K
Cap Rate 9%
$338,378
$338.4K
Market Conditions
NOI Build-Up for 3,768 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
$58.8K $15.60/SF
− Vacancy
−$3.4K −$0.90/SF
EGI
$55.4K $14.70/SF
− OpEx
−$24.9K −$6.61/SF
NOI
$30.5K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$609,080
Cap Rate 7%
$435,057
Cap Rate 9%
$338,378
Alternative Uses
Best Use
Apartment 5plus
$435.1K
$380.7K – $507.6K
NOI $30,454 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$684.5K
$598.9K – $798.6K
NOI $47,915 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 72202, AR
10,340
Population
7,403
Households
1.4
Avg Household Size
37
Median Age
49%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$54,167
Median Household Income
$42,981
Median Earnings
$1,040
Median Rent
$246,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-two-unit portfolio features two recently renovated buildings under a master NNN lease generating $20,000 monthly.
Where is this apartment building located?
The property is located at 418 E 15th St Little Rock, AR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 22‑unit downtown Little Rock multifamily portfolio across two buildings: 315 E 6th St (16 units) and 418 E 15th St (6 units); Master NNN lease in place, generating $20,000/month ($240,000 annually); Master tenant pays all utilities, maintenance, and operating expenses for a true net‑income structure
