10-Unit Apartment
For Sale
$815,000
4713-4801 Hickory, North Little Rock, AR 72116
Two recently roofed buildings feature consistent two-bedroom, one-bath apartment layouts.
Property Size7,560 SF
Price / SF$107.80
Days on Market9
Property Features for 4713-4801 Hickory
General Information
Standard status
Active
Size
7,560 SF
Property subtype
Multi-family
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Building Details
Buildings
2
Listing Agency:
McKimmey Associates REALTORS NLR
(501) 812-3500
Listed By:
Chad Taylor
(501) 231-7612
Source:
Heilesassociatesrealtors
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 2 at 1:53AM
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 McKimmey Associates REALTORS NLR
Investment Insights
Based on property information with market context.
This multifamily offering includes two apartment buildings with five units each, totaling 10 residences and 7,560 square feet. Every apartment is configured with two bedrooms and one bathroom, creating a consistent unit mix across the property. New roofs are among the recent improvements.
The property is located at 4713-4801 Hickory in North Little Rock, Arkansas, within the Park Hill area. The paired-building layout and uniform floor plans provide a straightforward physical configuration for an apartment ownership strategy, with all units sharing the same two-bedroom, one-bathroom format.
The property is located at 4713-4801 Hickory in North Little Rock, Arkansas, within the Park Hill area. The paired-building layout and uniform floor plans provide a straightforward physical configuration for an apartment ownership strategy, with all units sharing the same two-bedroom, one-bathroom format.
Key Highlights
- 10 total apartment units across two 5‑unit buildings
- Each unit includes 2 bedrooms and 1 bathroom
- 7,560 square feet of total property size
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
$56,872
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
6.98%
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%
$1,137,440
$1.1M
Cap Rate 7%
$812,457
$812.5K
Cap Rate 9%
$631,911
$631.9K
Market Conditions
NOI Build-Up for 7,560 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
$109.8K $14.52/SF
− Vacancy
−$6.4K −$0.84/SF
EGI
$103.4K $13.68/SF
− OpEx
−$46.5K −$6.16/SF
NOI
$56.9K $7.52/SF
Area
Pulaski County, AR
Vacancy
5.80%
Lease Rate
$14.52 /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%
$1,137,440
Cap Rate 7%
$812,457
Cap Rate 9%
$631,911
Alternative Uses
Best Use
Apartment 5plus
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,946 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
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 - Two recently roofed buildings feature consistent two-bedroom, one-bath apartment layouts.
Where is this apartment building located?
The property is located at 4713-4801 Hickory North Little Rock, AR.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 10 total apartment units across two 5‑unit buildings; Each unit includes 2 bedrooms and 1 bathroom; 7,560 square feet of total property size
