Office Building with Expansion
For Sale
Contact for pricing
8410 Counts Massie Rd, North Little Rock, AR 72113
15,000 SF office building with land for expansion.
Property Size15,000 SF
Price / SF$133
Days on Market1271
Property Features for 8410 Counts Massie Rd
General Information
Standard status
Active
Size
15,000 SF
Class
B
Property subtype
Office
Zoning
C-3
Occupancy
85%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$100,000
Building Details
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Randolph Cole & Company
(501) 352-2359
Listed By:
Roger Cole · License #AR EB00075179
Source:
Crexi
Added: Mar 4, 2023
Changed: Aug 8
Last Checked: Aug 25 at 11:23AM
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 Randolph Cole & Company
Investment Insights
Based on property information with market context.
Craft Veach Business Center is a 15,000 SF office building with excess land suitable for constructing an additional 15,000 SF office building. The property is currently occupied by a mix of professional tenants, including two CPA firms, three financial advisors, a roofing contractor, and a general commercial contractor. The building also features approximately 1,300 SF of executive office suites.
Key Highlights
- Excess land supports construction of a second 15,000 SF office building, doubling potential investment.
- 15,000 SF office building suitable for various business types.
- High level of professional tenants, including CPA firms and financial advisors.
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
$125,449
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
6.29%
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%
$2,508,980
$2.5M
Cap Rate 7%
$1,792,129
$1.8M
Cap Rate 9%
$1,393,878
$1.4M
Market Conditions
NOI Build-Up for 15,000 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
$189.0K $12.60/SF
− Vacancy
−$21.7K −$1.45/SF
EGI
$167.3K $11.15/SF
− OpEx
−$41.8K −$2.79/SF
NOI
$125.4K $8.36/SF
Area
Pulaski County, AR
Vacancy
11.50%
Lease Rate
$12.60 /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%
$2,508,980
Cap Rate 7%
$1,792,129
Cap Rate 9%
$1,393,878
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,449 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.34M
NOI $200,289 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 72113, AR
25,930
Population
12,260
Households
2.1
Avg Household Size
38
Median Age
46%
College-Educated
96%
High-School Grad
26.3 sq mi
ZIP Area
986
Density / Sq Mi
$72,054
Median Household Income
$46,212
Median Earnings
$1,084
Median Rent
$275,800
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 - 15,000 SF office building with land for expansion.
Where is this office building located?
The property is located at 8410 Counts Massie Rd North Little Rock, AR.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Excess land supports construction of a second 15,000 SF office building, doubling potential investment.; 15,000 SF office building suitable for various business types.; High level of professional tenants, including CPA firms and financial advisors.
