Historic Mixed-Use
For Sale
$1,000,000
614 Center St, Little Rock, AR 72201
Fully occupied property combining leased commercial and residential space.
Property Size10,502 SF
Price / SF$95.22
Days on Market54
Property Features for 614 Center St
General Information
Standard status
Active
Size
10,502 SF
Occupancy
100%
Building Details
Year Built
1920
Listing Agency:
Resource Realty
Listed By:
Cynthia Cooper Trammel
(501) 553-7203
Source:
Themoverealty
Added: Jul 14
Changed: Aug 28
Last Checked: Sep 4 at 9:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Resource Realty
Investment Insights
Based on property information with market context.
This historic mixed-use property at 614 Center Street in downtown Little Rock contains 10,502 square feet of leased commercial and residential space. The building features distinctive architectural design and an established combination of income-producing uses.
Occupancy is reported at 100%. The apartment units were previously licensed for short-term rentals and may be eligible for relicensing for a limited time, subject to applicable requirements.
Occupancy is reported at 100%. The apartment units were previously licensed for short-term rentals and may be eligible for relicensing for a limited time, subject to applicable requirements.
Key Highlights
- 10,502‑square‑foot historic mixed‑use building
- 614 Center Street in downtown Little Rock
- Combines leased commercial and residential space
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
$84,881
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
8.49%
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%
$1,697,620
$1.7M
Cap Rate 7%
$1,212,586
$1.2M
Cap Rate 9%
$943,122
$943.1K
Market Conditions
NOI Build-Up for 10,502 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
$163.8K $15.60/SF
− Vacancy
−$9.5K −$0.90/SF
EGI
$154.3K $14.70/SF
− OpEx
−$69.4K −$6.61/SF
NOI
$84.9K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,697,620
Cap Rate 7%
$1,212,586
Cap Rate 9%
$943,122
Alternative Uses
Best Use
Mixed Use
$1.49M
$1.30M – $1.74M
NOI $104,333 @ 7.0% cap · market cap 10.43%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,881 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,546 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Mixed-use property - Fully occupied property combining leased commercial and residential space.
Where is this mixed-use property located?
The property is located at 614 Center St Little Rock, AR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 10,502‑square‑foot historic mixed‑use building; 614 Center Street in downtown Little Rock; Combines leased commercial and residential space
