High-Rise Apartment Income
For Sale
$128,500
700 E 9th, Little Rock, AR 72202
Residential, Traditional, Little Rock, AR
Property Size691 SF
Price / SF$185.96
Days on Market14
Property Features for 700 E 9th
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Patio and Porch features
Patio
Interior features
Kit Counter-Ceramic Tile
Exterior features
Patio
Appliances
Free-Standing Stove, Electric Range, Dishwasher
Subdivision
QUAPAW TOWERS HPR
Lot features
In Subdivision
Directions
I-30 to 9th Street. Property on Right
Special listing conditions
Short Sale
Standard status
Active
Size
691 SF
Taxes and HOA fees
Tax Description
Lot 6, Block 0
Tax Annual Amount
1369
HOA Fee
$361 Monthly
Legal Description
Lot 6, Block 0
Amenities
Gated parking
Private Meeting or Party room
Workout room
Pool with Covered Cooking Area
Building Details
Year built
1967
Floors in Building
1
Flooring type
Wood, Carpet, Tile
Architectural style
Other
Listing Agency:
McKimmey Associates REALTORS NLR
(501) 812-3500
Listed By:
Chad Taylor
(501) 231-7612
Added: Sep 21
Changed: Sep 28
Last Checked: Oct 4 at 9:06PM
MLS# 26038446
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 residential income property is a 691-square-foot apartment in the Quapaw Tower HPR, a high-rise community completed in 1967. The one-bedroom, one-bath layout includes a ceramic-tile kitchen counter, wood, carpet, and tile flooring, along with a free-standing stove, electric range, and dishwasher. A patio adds exterior living space.
Located at 700 E 9th in Little Rock, the property is near downtown and includes gated parking. Community amenities include a pool with a covered cooking area, a workout room, and a private meeting or party room, providing residents with several shared-use spaces beyond the apartment itself.
Located at 700 E 9th in Little Rock, the property is near downtown and includes gated parking. Community amenities include a pool with a covered cooking area, a workout room, and a private meeting or party room, providing residents with several shared-use spaces beyond the apartment itself.
Key Highlights
- 691‑square‑foot one‑bedroom, one‑bath apartment
- Quapaw Tower HPR high‑rise community, built in 1967
- Gated parking included
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
$5,585
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
4.35%
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%
$111,700
$111.7K
Cap Rate 7%
$79,786
$79.8K
Cap Rate 9%
$62,056
$62.1K
Market Conditions
NOI Build-Up for 691 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
$10.8K $15.60/SF
− Vacancy
−$625 −$0.90/SF
EGI
$10.2K $14.70/SF
− OpEx
−$4.6K −$6.61/SF
NOI
$5.6K $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%
$111,700
Cap Rate 7%
$79,786
Cap Rate 9%
$62,056
Alternative Uses
Best Use
Apartment 5plus
$79.8K
$69.8K – $93.1K
NOI $5,585 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$125.5K
$109.8K – $146.5K
NOI $8,787 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 72202, AR
10,340
Population
7,403
Households
1.4
Avg Household Size
37
Median Age
49%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$54,167
Median Household Income
$42,981
Median Earnings
$1,040
Median Rent
$246,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with gated parking and access to shared recreational amenities near downtown Little Rock.
Where is this residential income property located?
The property is located at 700 E 9th Little Rock, AR.
What is the asking price?
The asking price for this property is $128,500.
What are key features of this property?
This property features: 691‑square‑foot one‑bedroom, one‑bath apartment; Quapaw Tower HPR high‑rise community, built in 1967; Gated parking included
