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    Property profile & analytics

    1924 University Ave Little Rock, AR 72204-3608

    • Retail space
    • 3,168 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0234579
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • First Class Cellular Repair / Cell Phone Store / Electronics Repair Shop

    Property Details for 1924 University Ave

    Year built
    1969
    Lot size
    0.17 lot acres
    Property size
    3,168 SF
    Property type
    Retail space
    APN
    44L-105-01-032-01
    APU
    44L1050103201

    Description

    This exceptional 3,168 square foot free-standing retail building is located at 1924 S University Avenue in Little Rock, Arkansas, within Pulaski County. Built in 1969, this Class B property sits on a 0.17-acre lot and offers a single-tenant occupancy. Currently vacant, the entire building is available for lease. The property enjoys a highly visible location directly across from the University of Arkansas at Little Rock campus, benefiting from the daily traffic of approximately 8,100 students and 1,470 faculty and staff. With a daily traffic count of 34,000 vehicles on University Avenue, this location provides unparalleled exposure. The property's convenient proximity to shopping, dining, and professional services further enhances its appeal. Its accessibility is also a key advantage, being only one mile from Interstate 630. Significant renovations are planned for the University and Colonel Glenn corridor, including the UALR-owned shopping center at the corner, promising future growth and increased foot traffic in the area. This presents a unique opportunity for a business seeking high visibility and a strong location within a vibrant community. The property's zip code is 72204.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $190,000
      6.5%
      $215,000
      7%
      $215,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $205,000
      Geo Method
      $190,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $205,000
      Retail
      $195,000
      Mixed-Use
      $225,000
      Hospitality
      $200,000
      Educational
      $195,000
      Residential Income
      $210,000
      Energy
      $220,000
      Income-Based Land
      $190,000
      Food Service
      $185,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3421
    Latitude
    34.7343
    CBSA code
    30780
    CBSA name
    LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,016
    $11,845
    $31,235
    $43,080
    -
    $59,225
    $156,175
    $215,400

    Comparable in this City

    • Value Estimation by Request
      480 SF

      2801 12th St

      RETAIL STORES (PERSONAL SERVICES) • 480 SF
      2801 12th St, Little Rock, AR 72204-2217
      View Details
    • Value Estimation by Request
      5,810 SF

      3900 Asher Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,810 SF
      3900 Asher Ave, Little Rock, AR 72204
      View Details
    • Value Estimation by Request
      1,494 SF

      5016 Asher Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,494 SF
      5016 Asher Ave, Little Rock, AR 72204-7969
      View Details
    • Value Estimation by Request
      2,250 SF

      3211 Fair Park Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      3211 Fair Park Blvd, Little Rock, AR 72204-6137
      View Details
    • Value Estimation by Request
      935 SF

      8225 Colonel Glenn Rd

      RETAIL STORES (PERSONAL SERVICES) • 935 SF
      8225 Colonel Glenn Rd, Little Rock, AR 72204-7513
      View Details
    • Value Estimation
      $515,000
      6,696 SF

      3525 John Barrow Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,696 SF
      3525 John Barrow Rd, Little Rock, AR 72204-5777
      View Details

    Similar Nearby for Sale

    • $299,900
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      Little Rock Building and Land

      Two parcels with building, parking, and green space.
      1601 S University Ave, Little Rock, AR 72204
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    • $1,000,000
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      Little Rock Multi-Building Commercial Property

      Versatile industrial & retail space, high visibility location.
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    • $545,000
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      Commercial Building in Little Rock

      Commercial building in a strong retail submarket of Little Rock.
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    • $500,000
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      Little Rock Commercial Building For Sale

      Turn-key commercial building in high-traffic Little Rock location.
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    • $135,000
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      Retail Property on Asher Avenue

      Highly visible retail property with versatile commercial space in Little Rock.
      3400 Asher Ave, Little Rock, AR 72204
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    • $1,350,000
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      University Ave Retail Center

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    Similar Nearby for Lease

    • $12 SF/Yr
      2,100 SF

      Renovated Retail Center Near UALR

      153,508 SF renovated retail center near University of Arkansas.
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    • $8 SF/Yr
      5,600 SF

      Retail Space Near I-630

      Retail space with parking and high traffic volume.
      1400 S University Ave, Little Rock, AR 72204
      View Details
    • $10 SF/Yr
      2,584 SF

      Retail Space on South University

      Retail space for lease with high visibility and traffic.
      3700 S University Ave, Little Rock, AR 72204
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    • $782,500
      10,134 SF

      Versatile Commercial Space on University

      10,134 SF commercial space with fenced yard and parking.
      4418 S University Ave, Little Rock, AR 72204
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    • $12 SF/Yr
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      Village Shopping Center: Little Rock Retail

      Prime Little Rock retail/flex space available.
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    • $10 SF/Yr
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      Little Rock Retail Space Available

      High-visibility retail suites for lease in Little Rock, AR.
      3500 University Ave, Little Rock, AR 72204
      View Details
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    1924 University Ave
    Little Rock, AR 72204-3608
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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.

    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
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