Office Suite with Three
501 W 3rd Place Russellville, AR 72801
New
For Sale
$149,900
SINGLE_FAMILY - Russellville, AR
Property Size975 SF
Price / SF$153.74
Days on Market3
Property Features for 501 W 3rd Place
General Information
- Property type
- Residential
- Property subtype
- Office
- Standard status
- Active
- APN
- 799-00010-000C
- Size
- 975 SF
Taxes and HOA fees
- Tax Description
- PT 4 5 6 BLK 2 CITY OF RUSSELLVILLE
Building Details
- Year built
- 1938
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Ladd Shannon · License #SA00055694
(479) 886-1959
Added: Jul 21
Changed: Jul 23
Last Checked: Jul 23 at 7:06PM
MLS# 1356226
Copyright © 2026 ArkansasONE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial office property at 501 W 3rd Place in Russellville, AR offers a versatile interior suitable for a range of professional uses. The layout includes three separate rooms, making it well-suited for offices and/or consultation spaces.
The property is located just blocks away from downtown Russellville’s depot and entertainment area, supporting convenient access to surrounding activity. Public remarks also note visibility and accessibility from the area.
With its multi-room configuration, the space provides straightforward separation between working areas while maintaining a compact, practical footprint for professional operations.
The property is located just blocks away from downtown Russellville’s depot and entertainment area, supporting convenient access to surrounding activity. Public remarks also note visibility and accessibility from the area.
With its multi-room configuration, the space provides straightforward separation between working areas while maintaining a compact, practical footprint for professional operations.
Key Highlights
- Commercial property built in 1938
- 3 separate rooms, suitable for offices or consultation spaces
- Located just blocks from downtown Russellville 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lowrey Painter Lin ...
Dental Office
FAQs
What type of property is this?
Office units - Office space configured with three separate rooms for professional use in Russellville, AR.
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 property built in 1938; 3 separate rooms, suitable for offices or consultation spaces; Located just blocks from downtown Russellville depot and entertainment area
