Historic Office Building with Attic
For Sale
$499,900
809 W 2nd Street, Little Rock, AR 72201
Commercial / Industrial, Little Rock, AR
Property Size2,666 SF
Lot Size0.17 Acres
Price / SF$187.51
Days on Market50
Property Features for 809 W 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
4
Directions
Broadway to W 2nd
Subdivision
Little Rock
Standard status
Active
Size
2,666 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Lot 10-12 Block 141
Tax Annual Amount
2687
Legal Description
Lot 10-12 Block 141
Amenities
Spacious individual offices
floored attic with tons of storage
original hardwood
original stairs and bannister
beautiful window seat
original molding
Building Details
Year built
1940
Floors in Building
2
Listing Agency:
McKimmey Associates REALTORS NLR
(501) 812-3500
Listed By:
Marilyn McKimmey
(501) 960-8507
Added: Jul 21
Changed: Aug 19
Last Checked: Sep 8 at 7:06AM
MLS# 26029556
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 2,666-square-foot office property, constructed in 1940, is arranged with separate office areas and a floored attic that adds usable storage capacity. Original hardwood flooring, stair components, bannister detailing, molding, and a built-in window seat contribute to the building’s established character.
The property is located at 809 W 2nd Street in downtown Little Rock, within five blocks of the courthouse. The site encompasses 0.17 acres and carries a 72201 postal designation, providing a compact office setting in the city center.
The property is located at 809 W 2nd Street in downtown Little Rock, within five blocks of the courthouse. The site encompasses 0.17 acres and carries a 72201 postal designation, providing a compact office setting in the city center.
Key Highlights
- 2,666 SF office property on a 0.17‑acre site
- Built in 1940 with original hardwood flooring and architectural millwork
- Multiple individual office areas
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 units - Individual office layout with floored attic storage and preserved original architectural details.
Where is this office units located?
The property is located at 809 W 2nd Street 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: 2,666 SF office property on a 0.17‑acre site; Built in 1940 with original hardwood flooring and architectural millwork; Multiple individual office areas
