Office and Warehouse Space
For Sale
Contact for pricing
1924 Fendley Dr, North Little Rock, AR 72114
Two-story office/warehouse totaling 11,625 SF on 0.92 acres.
Property Size11,625 SF
Lot Size0.92 Acres
Price / SF$66.67
Days on Market759
Property Features for 1924 Fendley Dr
General Information
Standard status
Active
Size
11,625 SF
Class
C
Total Parking Spaces
47
Lot size
0.92 Acres
Property subtype
Office, Industrial
Building Details
Year Built
1982
Stories
2
Listing Agency:
Kelley Commercial Partners
(501) 375-3200
Listed By:
Eric Varner · License #AR 00075069
Source:
Crexi
Added: Jul 24, 2024
Changed: Aug 14
Last Checked: Aug 20 at 5:50PM
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 Kelley Commercial Partners
Investment Insights
Based on property information with market context.
This property features approximately 8,796 square feet of office space and approximately 2,856 square feet of warehouse space. The two-story office/warehouse building has a total area of approximately 11,625 square feet and is situated on a lot of approximately 0.92 acres. The property is suitable for commercial real estate use.
Key Highlights
- ±11,625 SF Two‑Story Office/Warehouse
- Includes ±8,796 SF of Office Space
- Features ±2,856 SF Warehouse Space
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
$70,594
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
9.11%
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%
$1,411,880
$1.4M
Cap Rate 7%
$1,008,486
$1.0M
Cap Rate 9%
$784,378
$784.4K
Market Conditions
NOI Build-Up for 11,625 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
$115.8K $9.96/SF
− Vacancy
−$7.2K −$0.62/SF
EGI
$108.6K $9.34/SF
− OpEx
−$38.0K −$3.27/SF
NOI
$70.6K $6.07/SF
Area
Pulaski County, AR
Vacancy
6.20%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,411,880
Cap Rate 7%
$1,008,486
Cap Rate 9%
$784,378
Alternative Uses
Best Use
Flex RnD
$1.01M
$882.4K – $1.18M
NOI $70,594 @ 7.0% cap · market cap 9.11%
Second Best
Industrial
$730.0K
$638.8K – $851.7K
NOI $51,103 @ 7.0% cap · market cap 6.59%
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,224 @ 7.0% cap · market cap 20.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72114, AR
10,957
Population
6,733
Households
1.6
Avg Household Size
38
Median Age
19%
College-Educated
84%
High-School Grad
7.7 sq mi
ZIP Area
1,423
Density / Sq Mi
$28,594
Median Household Income
$27,564
Median Earnings
$781
Median Rent
$87,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Valley Innovative Services Inc — 2001 Allen St, North Little Rock, AR 72114
Frequently Asked Questions
What type of property is this?
Flex space - Two-story office/warehouse totaling 11,625 SF on 0.92 acres.
Where is this flex space located?
The property is located at 1924 Fendley Dr North Little Rock, AR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: ±11,625 SF Two‑Story Office/Warehouse; Includes ±8,796 SF of Office Space; Features ±2,856 SF Warehouse Space
