Office Suite with Three
501 W 3rd Place Russellville, AR 72802
New
501 W 3rd Place, Russellville, AR, 72802
$149,900
For Sale
$149,900
SINGLE_FAMILY - Russellville, AR
Property Size975 SF
Price / SF$153.74
Days on Market1
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 Checked: Jul 21 at 10:06PM
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 office suite offers a versatile interior layout with three separate rooms, providing workable separation for office functions or consultation space. The property totals 975 square feet.
Located in Russellville, Arkansas at 501 W 3rd Place (Pope County), the space is described as being just blocks from downtown Russellville’s depot and entertainment area, supporting convenient local access.
For tenants or buyers seeking a compact, room-divided professional space, the existing three-room configuration is the primary functional feature of the offering.
Located in Russellville, Arkansas at 501 W 3rd Place (Pope County), the space is described as being just blocks from downtown Russellville’s depot and entertainment area, supporting convenient local access.
For tenants or buyers seeking a compact, room-divided professional space, the existing three-room configuration is the primary functional feature of the offering.
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
Local 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
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office suite featuring three separate rooms within 975 square feet, suited for professional office 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 property built in 1938; 3 separate rooms, suitable for offices or consultation spaces; Located just blocks from downtown Russellville depot and entertainment area
