Office Building with Expansion
8410 Counts Massie Rd, North Little Rock, AR 72113
15,000 SF office building with land for expansion.
Type:Office
Property size:
15,000 SFPrice / SF:
$166/SF- Added:
- Mar 4, 2023
- Days on Market:
- 1181
- Last Refresh:
- May 19 at 8:29 pm
Property Features for 8410 Counts Massie Rd
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Property subtype
- Office
Listing agent Roger Cole License #AR EB00075179
Listing office Randolph Cole & Company
Listing date Mar 4, 2023
Source Crexi
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
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.
- Includes approximately 1,300 SF of executive office suites.
- Current tenant mix provides a stable income stream.
- Located in Craft Veach Business Center.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.39M
NOI $125,449 @ 9.00% cap · cautious / downside scenario
Moderate
$1.79M
NOI $125,449 @ 7.00% cap · market / base-case scenario
Aggressive
$2.51M
NOI $125,449 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.0k | $12.60 |
| − Vacancy | −$21.7k | −$1.45 |
| EGI | $167.3k | $11.15 |
| − OpEx | −$41.8k | −$2.79 |
| NOI | $125.4k | $8.36 |
15,000 SF · lease $12.60/SF/yr · vacancy 11.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,449 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.34M
NOI $200,289 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Craft Veach & Co
Tax Preparation
Location Insight
- Map
- Local Demand
- City
- North Little Rock
- County
- Pulaski
- State
- Arkansas
- Longitude
- -92.380805
- Latitude
- 34.84012
Nearby Similar for Sale
FAQs
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 $2,500,000.
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.
