Professional Office Suite with 3
For Sale
$149,900
Pending
501 W 3rd Place, Russellville, AR 72801
Office suite configured with three separate rooms for professional or consultation use.
Property Size975 SF
Days on Market55
Property Features for 501 W 3rd Place
General Information
Standard status
Pending
Size
975 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1938
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Ladd Shannon · License #SA00055694
(479) 886-1959
Source:
Exitrealty
Added: Jul 21
Changed: Sep 1
Last Checked: Sep 13 at 5:37AM
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 Arkansas Real Estate Collective
Investment Insights
Based on property information with market context.
This commercial property offers a versatile interior layout designed for professional uses. The space includes three separate rooms, providing dedicated areas suitable for offices or consultation spaces.
Located just blocks away from downtown Russellville’s depot and entertainment area, the property is positioned for visibility and convenient access to the surrounding district.
The current configuration supports multiple work areas within a compact office layout, making it practical for tenants seeking separation between rooms while maintaining an efficient footprint.
Located just blocks away from downtown Russellville’s depot and entertainment area, the property is positioned for visibility and convenient access to the surrounding district.
The current configuration supports multiple work areas within a compact office layout, making it practical for tenants seeking separation between rooms while maintaining an efficient footprint.
Key Highlights
- Commercial office suite with 3 separate rooms for professional or consultation use
- Located just blocks from downtown Russellville’s depot and entertainment area
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
$8,587
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
5.73%
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%
$171,740
$171.7K
Cap Rate 7%
$122,671
$122.7K
Cap Rate 9%
$95,411
$95.4K
Market Conditions
NOI Build-Up for 975 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
$12.3K $12.60/SF
− Vacancy
−$835 −$0.86/SF
EGI
$11.4K $11.74/SF
− OpEx
−$2.9K −$2.94/SF
NOI
$8.6K $8.81/SF
Area
Pope County, AR
Vacancy
6.80%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$171,740
Cap Rate 7%
$122,671
Cap Rate 9%
$95,411
Alternative Uses
Best Use
Office B
$122.7K
$107.3K – $143.1K
NOI $8,587 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$155.8K
$136.3K – $181.7K
NOI $10,904 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office suite configured with three separate rooms for professional or consultation use.
Where is this office units located?
The property is located at 501 W 3rd Place Russellville, AR.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Commercial office suite with 3 separate rooms for professional or consultation use; Located just blocks from downtown Russellville’s depot and entertainment area
