Mid-Century Modern Office
For Sale
$295,000
916 Garland Street, Little Rock, AR 72201
Mid-century modern office building with four rear private parking spaces and high visibility from Cantrell Road.
Property Size1,532 SF
Days on Market59
Property Features for 916 Garland Street
General Information
Standard status
Active
Size
1,532 SF
Total Parking Spaces
4
Property subtype
Commercial
Building Details
Building Size
1,532 SF
Year Built
1965
Stories
1
Listing Agency:
Exp Realty
(501) 951-9200
Listed By:
Ashley Watters
(501) 951-9200
Source:
Jcthornton
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 8 at 12:08PM
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 Exp Realty
Investment Insights
Based on property information with market context.
This mid-century modern office building (built in 1965) is designed for professional uses such as a law office, medical practice, or financial firm. Interior features include distinctive library paneling and unique ceilings that contribute to the character of the space.
The property offers high visibility from Cantrell Road and is located close to downtown for convenient client and staff access. Four private parking spaces are provided at the rear.
The adjoining lot is included in the sale, adding additional parking, expansion opportunities, and potential for a future building site. Owner financing may be available for qualified buyers.
The property offers high visibility from Cantrell Road and is located close to downtown for convenient client and staff access. Four private parking spaces are provided at the rear.
The adjoining lot is included in the sale, adding additional parking, expansion opportunities, and potential for a future building site. Owner financing may be available for qualified buyers.
Key Highlights
- High visibility from Cantrell Road with close proximity to downtown
- Distinctive interior with library paneling and unique ceilings
- Four private parking spaces at the rear
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
$14,611
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
4.95%
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%
$292,220
$292.2K
Cap Rate 7%
$208,729
$208.7K
Cap Rate 9%
$162,344
$162.3K
Market Conditions
NOI Build-Up for 1,532 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
$27.4K $17.88/SF
− Vacancy
−$3.0K −$1.98/SF
EGI
$24.4K $15.90/SF
− OpEx
−$9.7K −$6.36/SF
NOI
$14.6K $9.54/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
40.00%
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%
$292,220
Cap Rate 7%
$208,729
Cap Rate 9%
$162,344
Alternative Uses
Best Use
Healthcare Medical
$208.7K
$182.6K – $243.5K
NOI $14,611 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$208.4K
$182.3K – $243.1K
NOI $14,586 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$278.3K
$243.5K – $324.7K
NOI $19,481 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,862
Businesses Nearby
Explore this area
Business Placement
Demographics for 72201, AR
961
Population
628
Households
1.5
Avg Household Size
44
Median Age
78%
College-Educated
100%
High-School Grad
1.2 sq mi
ZIP Area
801
Density / Sq Mi
$112,045
Median Household Income
$71,188
Median Earnings
$1,344
Median Rent
$262,300
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 - Mid-century modern office building with four rear private parking spaces and high visibility from Cantrell Road.
Where is this office building located?
The property is located at 916 Garland Street Little Rock, AR.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: High visibility from Cantrell Road with close proximity to downtown; Distinctive interior with library paneling and unique ceilings; Four private parking spaces at the rear
