Three-Room Office
For Sale
$149,900
501 W 3rd Place, Russellville, AR 72801
CommercialSale, Russellville, AR
Property Size975 SF
Price / SF$153.74
Days on Market96
Property Features for 501 W 3rd Place
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Turn on W 3rd street from S Arkansas. Turn onto S El paso and you will see the sign
Standard status
Active
APN
799-00010-000C
Size
975 SF
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
PT 4 5 6 BLK 2 CITY OF RUSSELLVILLE
Legal 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: Oct 23
Last Checked: Oct 24 at 6:06PM
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.
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Investment Insights
Based on property information with market context.
This 975-square-foot office unit at 501 W 3rd Place includes three separate rooms that can serve as offices or consultation spaces. Constructed in 1938, the property offers a compact layout for professional use.
The building is located in Russellville, Arkansas, near the downtown depot and entertainment area. Its address is within ZIP code 72801 in Pope County.
The building is located in Russellville, Arkansas, near the downtown depot and entertainment area. Its address is within ZIP code 72801 in Pope County.
Key Highlights
- 975 square feet of office space
- Three separate rooms for offices or consultations
- Built in 1938
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,165
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Three separate rooms support office or consultation use.
Where is this office unit 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: 975 square feet of office space; Three separate rooms for offices or consultations; Built in 1938
