Walgreens Drug Store
For Sale
$1,528,000
4823 John F Kennedy Boulevard, North Little Rock, AR 72116
Existing occupancy includes a recently exercised five-year lease extension and operating hours continuing until midnight.
Property Size13,500 SF
Days on Market62
Property Features for 4823 John F Kennedy Boulevard
General Information
Standard status
Active
Size
13,500 SF
Property subtype
Retail - Street Retail
Building Details
Building Size
13,500 SF
Listing Agency:
RX Syndicate
Listed By:
Arthur Griffith · License #01876378
Source:
Commercialcafe
Added: Aug 25
Changed: Oct 21
Last Checked: Oct 24 at 1:48PM
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 RX Syndicate
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Investment Insights
Based on property information with market context.
The offering includes a 13,500-square-foot drug store building completed in 1995. The sale covers the building and leasehold interest, excluding the underlying land. Walgreens has exercised an option extending the lease for another five years, and the store operates until midnight.
The property is located at 4823 John F Kennedy Blvd in North Little Rock, along a north-south arterial near the Lakewood neighborhood. Its position places the building just north of the McCain Boulevard retail concentration and across from Reasor's. The surrounding context includes residential density, commuter movement, and access to the area’s established retail corridor.
The property is located at 4823 John F Kennedy Blvd in North Little Rock, along a north-south arterial near the Lakewood neighborhood. Its position places the building just north of the McCain Boulevard retail concentration and across from Reasor's. The surrounding context includes residential density, commuter movement, and access to the area’s established retail corridor.
Key Highlights
- 13,500‑square‑foot building completed in 1995
- Building and leasehold interest offered; underlying land excluded
- Walgreens exercised an option extending the lease for another five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,585
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,491,700
$2.5M
Cap Rate 7%
$1,779,786
$1.8M
Cap Rate 9%
$1,384,278
$1.4M
Market Conditions
NOI Build-Up for 13,500 SF
Gross rent
$189.5K $14.04/SF
− Vacancy
−$11.6K −$0.86/SF
EGI
$178.0K $13.18/SF
− OpEx
−$53.4K −$3.96/SF
NOI
$124.6K $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 Rate 5%
$2,491,700
Cap Rate 7%
$1,779,786
Cap Rate 9%
$1,384,278
Alternative Uses
Best Use
Specialty Retail
$2.58M
$2.25M – $3.00M
NOI $180,260 @ 7.0% cap · market cap 11.80%
Second Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,585 @ 7.0% cap · market cap 8.15%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
156k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 41%
Electronics 2%
Home Improvements & Furnishings 1%
Hobby Lobby
Shops & Services
43,606 visits/mo
0.2 miles
Kum & Go
Shops & Services
22,078 visits/mo
0.2 miles
7 Brew Coffee
Dining
19,964 visits/mo
0.0 miles
Starbucks
Dining
11,862 visits/mo
0.1 miles
Hardee's
Dining
10,362 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- MANSA CBD — 3718 John F Kennedy Blvd, North Little Rock, AR 72116
- CBD MANSA — 3718 John F Kennedy Blvd, North Little Rock, AR 72116
- The Medicine Shoppe® Pharmacy — 3836 John F Kennedy Blvd, North Little Rock, AR 72116
- Chrissy Barr — 3836 John F Kennedy Blvd, North Little Rock, AR 721168248
- Robert Shirey, RPH — 4823 John F Kennedy Blvd, North Little Rock, AR 72116, United States
Frequently Asked Questions
What type of property is this?
Drug store - Existing occupancy includes a recently exercised five-year lease extension and operating hours continuing until midnight.
Where is this drug store located?
The property is located at 4823 John F Kennedy Boulevard North Little Rock, AR.
What is the asking price?
The asking price for this property is $1,528,000.
What are key features of this property?
This property features: 13,500‑square‑foot building completed in 1995; Building and leasehold interest offered; underlying land excluded; Walgreens exercised an option extending the lease for another five years
