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 Market79
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 24
Changed: Sep 30
Last Checked: Sep 30 at 9:31AM
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 / Yr
$8,587
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
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
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 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
