Medical Office
For Sale
Contact for pricing
424 N University Ave, Little Rock, AR 72205
Medical office space on Little Rock’s established medical corridor with exposure to 22,000 vpd.
Property Size11,948 SF
Price / SF$148.56
Days on Market514
Property Features for 424 N University Ave
General Information
Standard status
Active
Size
11,948 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Hall High
Listing Agency:
Hathaway Group
(501) 663-5400
Listed By:
Bryan Crow
(501) 708-8040
Source:
Moodyscre
Added: Jun 9, 2025
Changed: Oct 26
Last Checked: Nov 3 at 10:02AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This medical office space is currently utilized by medical office users. The property is located at the southwest corner of University Ave and Father Tribou St (formerly Lee Avenue) in “Midtown.”
The site offers great visibility with exposure to 22,000 vpd and is within Little Rock’s established medical corridor that includes UAMS, CHI St. Vincent, and Doctor’s Building.
Measuring 11,948 square feet, the property is designed to support ongoing medical office use and offers a prominent corner location for tenant visibility within the area’s healthcare cluster.
The site offers great visibility with exposure to 22,000 vpd and is within Little Rock’s established medical corridor that includes UAMS, CHI St. Vincent, and Doctor’s Building.
Measuring 11,948 square feet, the property is designed to support ongoing medical office use and offers a prominent corner location for tenant visibility within the area’s healthcare cluster.
Key Highlights
- Currently utilized by medical office users
- Southwest corner of University Ave and Father Tribou St (formerly Lee Avenue)
- Great visibility with exposure to 22,000 vpd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,950
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,279,000
$2.3M
Cap Rate 7%
$1,627,857
$1.6M
Cap Rate 9%
$1,266,111
$1.3M
Market Conditions
NOI Build-Up for 11,948 SF
Gross rent
$213.6K $17.88/SF
− Vacancy
−$23.7K −$1.98/SF
EGI
$189.9K $15.90/SF
− OpEx
−$76.0K −$6.36/SF
NOI
$114.0K $9.54/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,279,000
Cap Rate 7%
$1,627,857
Cap Rate 9%
$1,266,111
Alternative Uses
Best Use
Healthcare Medical
$1.63M
$1.42M – $1.90M
NOI $113,950 @ 7.0% cap · market cap 6.42%
Second Best
Office B
$1.63M
$1.42M – $1.90M
NOI $113,759 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,934 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,806
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Pawzitive Perfection LLC — 5300 W Markham St, Little Rock, AR 72205
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space on Little Rock’s established medical corridor with exposure to 22,000 vpd.
Where is this medical office space located?
The property is located at 424 N University Ave Little Rock, AR.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Currently utilized by medical office users; Southwest corner of University Ave and Father Tribou St (formerly Lee Avenue); Great visibility with exposure to 22,000 vpd
