Industrial-Style Residential Income
For Sale
$182,500
423 E 3rd St #209, Little Rock, AR 72201
Residential, Contemporary, Little Rock, AR
Property Size864 SF
Price / SF$211.23
Days on Market79
Property Features for 423 E 3rd St #209
General Information
Property type
Residential
Property subtype
Duplex
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Walk-In Closet(s), Ceiling Fan(s), Kit Counter-Ceramic Tile
Appliances
Electric Range, Dishwasher
Subdivision
TUF NUT BLDG HPR
Lot features
Level, Not in Subdivision
Directions
River market Ave and 3rd Street
Standard status
Active
Size
864 SF
Taxes and HOA fees
Tax Description
unit 209
Tax Annual Amount
1035
HOA Fee
$240 Monthly
Legal Description
unit 209
Amenities
exposed brick walls
polished concrete floors
expansive windows
soaring ceilings
secure controlled building access
pet-friendly
Building Details
Year built
1930
Flooring type
Concrete
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
The Property Group
(501) 663-0505
Listed By:
Margaret Bell
(501) 231-7736
Added: Aug 13
Changed: Aug 20
Last Checked: Oct 30 at 1:06PM
MLS# 26033096
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 864-square-foot studio-style loft occupies a converted factory building constructed in 1930. The residence combines exposed brick, polished concrete flooring, expansive windows, and soaring ceilings with an open arrangement that includes a bedroom area, full kitchen, and bathroom. Interior features include a walk-in closet, ceiling fan, ceramic tile kitchen counter, electric range, and dishwasher. The building has a flat roof and controlled access.
Located at 423 E 3rd St in Little Rock, the property is near the River Market District, Arkansas River Trail, restaurants, nightlife, art galleries, and parks. Future 30 Crossing Park is one block away. The first floor includes 10 Fitness and Lucky Lou's, while garage parking is available as an option. The building is pet-friendly.
Located at 423 E 3rd St in Little Rock, the property is near the River Market District, Arkansas River Trail, restaurants, nightlife, art galleries, and parks. Future 30 Crossing Park is one block away. The first floor includes 10 Fitness and Lucky Lou's, while garage parking is available as an option. The building is pet-friendly.
Key Highlights
- 864 SF studio‑style loft in a converted factory building
- Constructed in 1930 with exposed brick and polished concrete flooring
- Open layout with bedroom area, full kitchen, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,983
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$139,660
$139.7K
Cap Rate 7%
$99,757
$99.8K
Cap Rate 9%
$77,589
$77.6K
Market Conditions
NOI Build-Up for 864 SF
Gross rent
$13.5K $15.60/SF
− Vacancy
−$782 −$0.90/SF
EGI
$12.7K $14.70/SF
− OpEx
−$5.7K −$6.61/SF
NOI
$7.0K $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 Rate 5%
$139,660
Cap Rate 7%
$99,757
Cap Rate 9%
$77,589
Alternative Uses
Best Use
Apartment 5plus
$99.8K
$87.3K – $116.4K
NOI $6,983 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$157.0K
$137.3K – $183.1K
NOI $10,987 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,079
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Converted factory loft with exposed brick, polished concrete, expansive windows, and a full kitchen and bathroom.
Where is this residential income property located?
The property is located at 423 E 3rd St #209 Little Rock, AR.
What is the asking price?
The asking price for this property is $182,500.
What are key features of this property?
This property features: 864 SF studio‑style loft in a converted factory building; Constructed in 1930 with exposed brick and polished concrete flooring; Open layout with bedroom area, full kitchen, and bathroom
