Professional Office Suite with 3
For Sale
$149,900
501 W 3rd Pl, Russellville, AR 72801
Office suite configured with three separate rooms for professional or consultation use.
Property Size975 SF
Price / SF$153.74
Days on Market10
Property Features for 501 W 3rd Pl
General Information
Standard status
Active
Size
975 SF
Listing Agency:
Arkansas Real Estate Collective
(479) 886-1959
Listed By:
Ladd Shannon · License #SA00055694
(479) 886-1959
Source:
Exprealty
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 29 at 3:23PM
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 For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.3k | $12.60 |
| − Vacancy | −$835 | −$0.86 |
| EGI | $11.4k | $11.74 |
| − OpEx | −$2.9k | −$2.94 |
| NOI | $8.6k | $8.81 |
975 SF · lease $12.60/SF/yr · vacancy 6.80% · expense 25.00%
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
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
Market
Vacancy Rate% for Office 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?
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 Pl 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
