Office Building with Attic
New
For Sale
$499,900
809 W 2nd St, Little Rock, AR 72201
Downtown office property with multiple private offices and a floored attic for additional storage.
Property Size2,666 SF
Price / SF$187.51
Days on Market5
Property Features for 809 W 2nd St
General Information
Standard status
Active
Size
2,666 SF
Building Details
Year Built
1940
Listing Agency:
McKimmey Associates REALTORS NLR
Listed By:
Marilyn McKimmey
(501) 960-8507
Source:
Signaturearkansas
Added: Sep 4
Last Checked: Sep 7 at 11:29AM
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 McKimmey Associates REALTORS NLR
Investment Insights
Based on property information with market context.
This office building dates to 1940 and includes multiple individual offices arranged for professional use. A floored attic provides additional storage, while original hardwood flooring, interior stairs, bannister, molding, and a window seat retain the building’s period character.
The property is located in downtown Little Rock at 809 W 2nd St, with the courthouse approximately 5 blocks away. The combination of private office areas, dedicated storage, and original architectural details creates a distinctive setting for an office user or owner-occupant.
The property is located in downtown Little Rock at 809 W 2nd St, with the courthouse approximately 5 blocks away. The combination of private office areas, dedicated storage, and original architectural details creates a distinctive setting for an office user or owner-occupant.
Key Highlights
- Office building constructed in 1940
- Multiple individual offices
- Floored attic for additional storage
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
$25,383
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
5.08%
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%
$507,660
$507.7K
Cap Rate 7%
$362,614
$362.6K
Cap Rate 9%
$282,033
$282.0K
Market Conditions
NOI Build-Up for 2,666 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
$38.1K $14.28/SF
− Vacancy
−$4.2K −$1.59/SF
EGI
$33.8K $12.69/SF
− OpEx
−$8.5K −$3.17/SF
NOI
$25.4K $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%
$507,660
Cap Rate 7%
$362,614
Cap Rate 9%
$282,033
Alternative Uses
Best Use
Office B
$362.6K
$317.3K – $423.1K
NOI $25,383 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.3K
$423.8K – $565.0K
NOI $33,902 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,895
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown office property with multiple private offices and a floored attic for additional storage.
Where is this office building located?
The property is located at 809 W 2nd St Little Rock, AR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Office building constructed in 1940; Multiple individual offices; Floored attic for additional storage
