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    1405 Pierce St Little Rock, AR 72207

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    For Lease
    Contact for pricing

    Midtown Little Rock Office Space: 7 Suites Available

    Lot size:
    36,256 SF

    Property Features for 1405 Pierce St

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    36,256 SF
    Total Rate
    51362.67

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    3

    Spaces For Lease

    at 1405 Pierce St, Little Rock, AR 72207 Contact us
    Unit Suite 301

    $18 /Mo

    Size
    2,331 SF
    Contact us
    Unit Suite 307

    $18 /Mo

    Size
    561 SF
    Contact us
    Unit Suite 101

    $18 /Mo

    Size
    2,913 SF
    Contact us
    Unit Suite 311

    $18 /Mo

    Size
    1,867 SF
    Contact us
    Unit Suite 312

    $18 /Mo

    Size
    813 SF
    Contact us
    Unit Suite 306

    $18 /Mo

    Size
    1,838 SF
    Contact us
    Unit Suite 205

    $18 /Mo

    Size
    530 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Caroline Otwell
    Caroline Otwell

    Listing Agency: RPM Group Listing Agent: Caroline Otwell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Located in the heart of Little Rock's Midtown, the Forest Heights Building offers a unique blend of urban convenience and tranquil surroundings. This three-story, 36,256 square foot office building, constructed in 1979, sits on a 1.15-acre lot and provides ample free on-site parking with 55 spaces. The property features a variety of office space options, suitable for executive, commercial, traditional, and creative office uses. Seven suites are currently available, ranging in size from a minimum of 530 square feet to a maximum contiguous space of 2,913 square feet. A total of 11,920 square feet is currently vacant, offering flexibility for businesses of various sizes. The building is professionally managed and enjoys a peaceful setting on a private drive, with convenient proximity to restaurants, medical facilities, and banks. The property's address is 1405 N Pierce St, Little Rock, AR 72207. Multiple tenancy is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conway Melanie MD Physician John W. Norris, ... Foster Care Service Northwestern Mutual Financial Advisor Ehrenberg Financial Insurance Agency Coleman Jr Robert ... Law Firm

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.337559688788
    Latitude
    34.765725583463

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    FAQs

    What type of property is this?
    Office units - Midtown Little Rock Office Space: 7 Suites Available
    Where is this office units located?
    The property is located at 1405 Pierce St Little Rock, AR.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Midtown location offering convenient access to restaurants, medical facilities, and banks.; Private drive setting provides tranquil atmosphere.; Professionally managed with free on-site parking.
    (501) 664-7807 Call to check price and availability
    Request Owner's contact information
    1405 Pierce St Little Rock, AR 72207
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    Little Rock, AR 72207
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1405 Pierce St Little Rock, AR 72207
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Caroline Otwell
    Caroline Otwell
    Real Estate License ID: SA00095539
    (501) 664-7807
    Learn more
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