Historic Mixed-Use
New
For Sale
$1,000,000
614 Center Street, Little Rock, AR 72201
Commercial / Industrial, Traditional, Little Rock, AR
Property Size10,502 SF
Lot Size0.16 Acres
Price / SF$95.22
Days on Market6
Property Features for 614 Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Other(See Remarks)
Parking
5
Parking features
Assigned
Interior features
Smoke Detector, Window Treatments, Furnished, Ceiling Fans, Video Surveillance, Stairs
Exterior features
Dumpster, Video Surveillance
Subdivision
City of Little Rock L5
Lot features
Level, City Lot
Directions
Take I-630 towards downtown. Take Exit 1B towards Broadway St. Turn right on W 7th St. Turn left on S Center St. Building is on the left.
Standard status
Active
Size
10,502 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Block/Lot: 93/9
Tax Annual Amount
13700
Legal Description
Block/Lot: 93/9
Building Details
Year built
1920
Floors in Building
2
Flooring type
Wood, Tile
Architectural style
Other
Listing Agency:
Resource Realty
(501) 214-8888
Listed By:
Cynthia Cooper Trammel
(501) 553-7203
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 22 at 3:06AM
MLS# 26034111
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.
Built in 1920, this 10,502-square-foot mixed-use property occupies 0.16 acres at 614 Center Street in downtown Little Rock. The building includes commercial space and residential apartments that are leased, creating a combination of income-producing uses within one historic structure. Interior finishes include wood and tile flooring, while furnishings, window treatments, ceiling fans, stairs, and smoke detectors are present. Video surveillance serves both the interior and exterior, and assigned parking is available.
The residential apartments previously operated under short-term rental licenses and are eligible for licensing again for a limited time. The property is located in Little Rock’s 72201 ZIP code in Pulaski County, with a building configuration suited to both commercial and residential occupancy.
The residential apartments previously operated under short-term rental licenses and are eligible for licensing again for a limited time. The property is located in Little Rock’s 72201 ZIP code in Pulaski County, with a building configuration suited to both commercial and residential occupancy.
Key Highlights
- 10,502‑square‑foot mixed‑use building on 0.16 acres
- Built in 1920 at 614 Center Street in downtown Little Rock
- Includes 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
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing property combines commercial space with leased residential apartments.
Where is this mixed-use property located?
The property is located at 614 Center Street 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 mixed‑use building on 0.16 acres; Built in 1920 at 614 Center Street in downtown Little Rock; Includes leased commercial and residential space
