Fenced Multi-Building Flex
For Sale
$300,000
4608 Aspen Dr, North Little Rock, AR 72118
Multiple adjoining parcels provide fenced shop, storage, and workspace buildings with utility service.
Property Size2,940 SF
Price / SF$102.04
Days on Market9
Property Features for 4608 Aspen Dr
General Information
Standard status
Active
Size
2,940 SF
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Service Bays
5
Taxes and HOA fees
Annual Taxes
$1,372
Amenities
living quarters
full bathroom
laundry room
vehicle lift
Building Details
Buildings
3
Listing Agency:
Crye-Leike REALTORS NLR Branch
(501) 975-2100
Listed By:
Brenda Rhoads
(501) 554-4136
Source:
Exprealty
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 10 at 2:47PM
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 Crye-Leike REALTORS NLR Branch
Investment Insights
Based on property information with market context.
This flex property comprises multiple adjoining, fenced parcels with several functional improvements. The primary building measures 74 by 30 feet and includes three shop bays, a studio-style area above, a full bathroom, and a separate laundry room. A vehicle lift in one bay is included in the sale.
A separate 50-by-30-foot building contains two bays and a walk-through door; one bay was previously configured as a paint booth. An additional parcel adds a concrete block building for workspace or storage. Electricity and water serve all buildings, which have either half or full bathrooms. The property is located at 4608 Aspen Dr in North Little Rock, Arkansas.
A separate 50-by-30-foot building contains two bays and a walk-through door; one bay was previously configured as a paint booth. An additional parcel adds a concrete block building for workspace or storage. Electricity and water serve all buildings, which have either half or full bathrooms. The property is located at 4608 Aspen Dr in North Little Rock, Arkansas.
Key Highlights
- Three‑bay shop measuring 74 by 30 feet
- Studio‑style area above the shop with full bathroom and separate laundry room
- Vehicle lift in one shop bay conveys with the sale
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
$27,132
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
9.04%
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%
$542,640
$542.6K
Cap Rate 7%
$387,600
$387.6K
Cap Rate 9%
$301,467
$301.5K
Market Conditions
NOI Build-Up for 2,940 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
$41.3K $14.04/SF
− Vacancy
−$2.5K −$0.86/SF
EGI
$38.8K $13.18/SF
− OpEx
−$11.6K −$3.96/SF
NOI
$27.1K $9.23/SF
Area
Pulaski County, AR
Vacancy
6.10%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$542,640
Cap Rate 7%
$387,600
Cap Rate 9%
$301,467
Alternative Uses
Best Use
Retail
$387.6K
$339.2K – $452.2K
NOI $27,132 @ 7.0% cap · market cap 9.04%
Second Best
Flex RnD
$255.0K
$223.2K – $297.6K
NOI $17,853 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$560.8K
$490.7K – $654.3K
NOI $39,257 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Service bays
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72118, AR
22,582
Population
10,823
Households
2.1
Avg Household Size
37
Median Age
20%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
818
Density / Sq Mi
$47,266
Median Household Income
$35,608
Median Earnings
$978
Median Rent
$115,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multiple adjoining parcels provide fenced shop, storage, and workspace buildings with utility service.
Where is this flex space located?
The property is located at 4608 Aspen Dr North Little Rock, AR.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three‑bay shop measuring 74 by 30 feet; Studio‑style area above the shop with full bathroom and separate laundry room; Vehicle lift in one shop bay conveys with the sale
