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    Downtown Little Rock Studio Lofts Title is generated by Realmo AI

    423 E Third Tuf Nut Lofts 7 units, Little Rock, AR 72201

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    For Sale
    $915,000

    MULTI_FAMILY - Little Rock, AR

    Property size:
    4,800 SF
    Price / SF:
    $190/SF
    Added:
    Aug 12, 2025
    Days on Market:
    283
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 423 E Third Tuf Nut Lofts 7 units

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    4,800 SF

    Taxes and HOA fees

    Tax Description
    423 East Third

    Building Details

    Year built
    1933
    Floors in Building
    1

    We can help!

    Listing Contact
    Scott Sandlin
    Scott Sandlin

    Listing agent Scott Sandlin

    Listing office Berkshire Hathaway HomeServices Arkansas Realty 415 N McKinley St., Suite 190-C, Little Rock, AR

    Listing date Aug 12, 2025

    MLS# 25032160

    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.

    HighLights

    • Unbeatable downtown location, walk to the River Market, River Trail, and restaurants.
    • Located in the historic Tuf Nut Lofts building, officially on the National Historic Register.
    • Unique loft features including post and beam construction, 15‑foot ceilings, and exposed brick walls.
    • Seven studio lofts available in one purchase.
    • Lofts are one bedroom, one bathroom units.
    • Sizes range from 500‑600 sq ft.

    Overview

    Located in the Tuf Nut Lofts building in downtown Little Rock, this property offers seven studio lofts. The building, formerly a blue jean factory, is listed on the National Historic Register and features post and beam construction, 15-foot ceilings, and exposed brick walls. The lofts are situated on the second floor and range in size from 500 to 600 square feet. Each loft includes one bedroom and one bathroom. The property is located within walking distance of the River Market, River Trail, local gyms, parks, and restaurants. One of the units is currently leased by a long-term tenant. The property contains a total of 4800 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.266297
    Latitude
    34.745247

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    FAQs

    What type of property is this?
    Apartment building - Seven studio lofts in historic Tuf Nut building.
    Where is this apartment building located?
    The property is located at 423 E Third Tuf Nut Lofts 7 units Little Rock, AR.
    What is the asking price?
    The asking price for this property is $915,000.
    What are key features of this property?
    This property features: Unbeatable downtown location, walk to the River Market, River Trail, and restaurants.; Located in the historic Tuf Nut Lofts building, officially on the National Historic Register.; Unique loft features including post and beam construction, 15‑foot ceilings, and exposed brick walls.
    (501) 529-2084
    We can help!
    Listing Contact
    Scott Sandlin
    Scott Sandlin
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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