Flex Space
For Sale
Under Contract
$891,840
5303 33rd Road, Little Rock, AR 72204
COMMERCIAL - Little Rock, AR
Property Size7,800 SF
Lot Size0.33 Acres
Price / SF$114.34
Days on Market212
Property Features for 5303 33rd Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
8
Directions
Just off University
Subdivision
Little Rock
Standard status
Active Under Contract
Size
7,800 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
Block 9, Lots 8 Inner City
Tax Annual Amount
3857
Legal Description
Block 9, Lots 8 Inner City
Building Details
Year built
1969
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Johnny Mitchum · License #EB00043654
(501) 940-3231
Added: Jan 12
Changed: Aug 6
Last Checked: Aug 12 at 1:06AM
MLS# 26002972
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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 7,800-square-foot commercial building occupies a 0.33-acre site and was constructed in 1969. The property is identified as flex space, with a use profile that includes office, church, and light industrial applications. Planned Office zoning and a Light Industrial land use designation provide the governing commercial framework for the site.
The property is located at 5303 33rd Road in Little Rock, Arkansas, within Pulaski County and the 72204 postal area. Its building size, site area, zoning designation, and stated range of potential uses provide a clear basis for evaluating the property as a flexible commercial asset.
The property is located at 5303 33rd Road in Little Rock, Arkansas, within Pulaski County and the 72204 postal area. Its building size, site area, zoning designation, and stated range of potential uses provide a clear basis for evaluating the property as a flexible commercial asset.
Key Highlights
- 7,800 SF commercial building
- 0.33‑acre site
- Planned Office zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,265
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,485,300
$1.5M
Cap Rate 7%
$1,060,929
$1.1M
Cap Rate 9%
$825,167
$825.2K
Market Conditions
NOI Build-Up for 7,800 SF
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.
Gross rent
$111.4K $14.28/SF
− Vacancy
−$12.4K −$1.59/SF
EGI
$99.0K $12.69/SF
− OpEx
−$24.8K −$3.17/SF
NOI
$74.3K $9.52/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,485,300
Cap Rate 7%
$1,060,929
Cap Rate 9%
$825,167
Alternative Uses
Best Use
Office B
$1.06M
$928.3K – $1.24M
NOI $74,265 @ 7.0% cap · market cap 8.33%
Second Best
Flex RnD
$846.1K
$740.3K – $987.1K
NOI $59,224 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,187 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 72204, AR
31,564
Population
14,570
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
2,077
Density / Sq Mi
$39,088
Median Household Income
$29,733
Median Earnings
$1,016
Median Rent
$117,600
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?
Flex space - The property combines Planned Office zoning with a Light Industrial land use designation.
Where is this flex space located?
The property is located at 5303 33rd Road Little Rock, AR.
What is the asking price?
The asking price for this property is $891,840.
What are key features of this property?
This property features: 7,800 SF commercial building; 0.33‑acre site; Planned Office zoning
