Freestanding Storefront
New
For Sale
$135,000
600 E 21ST Street, Little Rock, AR 72206
Commercial / Industrial, Little Rock, AR
Property Size1,868 SF
Lot Size0.17 Acres
Price / SF$72.27
Days on Market2
Property Features for 600 E 21ST Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use Commercial
Parking
4
Interior features
Public Restrooms, Ceiling Fans
Subdivision
Oak Glen
Lot features
Level, Corner Lot, Cleared, In Subdivision
Directions
From I-30 W, take exit 139A toward AR-365 Roosevelt Rd, Merge onto I-30 Frontage Rd, Sharp right onto Bragg Street, Turn left onto E 21 Street.
Standard status
Active
Size
1,868 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOT 8 BLOCK 1
Tax Annual Amount
333
Legal Description
LOT 8 BLOCK 1
Building Details
Year built
1949
Floors in Building
1
Flooring type
Vinyl, Concrete
Roof type
Flat
Listing Agency:
Michele Phillips & Co. Realtors
(501) 834-3433
Listed By:
Tracie Thomas
(501) 860-9513
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 4:06PM
MLS# 26034330
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 1,868-square-foot storefront property was built in 1949 and features a practical interior finish package with vinyl and concrete flooring, public restrooms, and ceiling fans. The building has a flat roof and is positioned on a 0.17-acre parcel.
Located at 600 E 21ST Street in Little Rock’s Pettaway neighborhood, the property is presented as a commercial building that could accommodate retail-oriented operations and service businesses, including automotive, convenience, grooming, or repair uses described for the site.
Located at 600 E 21ST Street in Little Rock’s Pettaway neighborhood, the property is presented as a commercial building that could accommodate retail-oriented operations and service businesses, including automotive, convenience, grooming, or repair uses described for the site.
Key Highlights
- 1,868‑square‑foot storefront building on a 0.17‑acre parcel
- Built in 1949 with a flat roof
- Public restrooms and ceiling fans
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
$7,021
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
5.20%
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%
$140,420
$140.4K
Cap Rate 7%
$100,300
$100.3K
Cap Rate 9%
$78,011
$78.0K
Market Conditions
NOI Build-Up for 1,868 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
$10.5K $5.64/SF
− Vacancy
−$506 −$0.27/SF
EGI
$10.0K $5.37/SF
− OpEx
−$3.0K −$1.61/SF
NOI
$7.0K $3.76/SF
Area
Little Rock, AR
Vacancy
4.80%
Lease Rate
$5.64 /SF/Yr
Expense Ratio
30.00%
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%
$140,420
Cap Rate 7%
$100,300
Cap Rate 9%
$78,011
Alternative Uses
Best Use
Retail
$299.2K
$261.8K – $349.1K
NOI $20,945 @ 7.0% cap · market cap 15.51%
Second Best
Industrial
$100.3K
$87.8K – $117.0K
NOI $7,021 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$339.3K
$296.9K – $395.9K
NOI $23,754 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72206, AR
22,974
Population
10,080
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
111.6 sq mi
ZIP Area
206
Density / Sq Mi
$49,145
Median Household Income
$35,157
Median Earnings
$910
Median Rent
$132,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with public restrooms, ceiling fans, and a combination of vinyl and concrete flooring.
Where is this storefront property located?
The property is located at 600 E 21ST Street Little Rock, AR.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 1,868‑square‑foot storefront building on a 0.17‑acre parcel; Built in 1949 with a flat roof; Public restrooms and ceiling fans
