Mid-Century Office
New
For Sale
$249,000
916 Garland Street, Little Rock, AR 72201
Commercial / Industrial, Little Rock, AR
Property Size1,532 SF
Lot Size0.19 Acres
Price / SF$162.53
Days on Market7
Property Features for 916 Garland Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
4
Directions
Take exit 2A toward Chester St. Turn left onto S Chester St. Continue on N Chester St. Turn right onto Garland Ave. Property is on the left.
Subdivision
Little Rock
Standard status
Active
Size
1,532 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
Lot 10 Block 352
Tax Annual Amount
2445
Legal Description
Lot 10 Block 352
Amenities
library paneling
unique ceilings
Building Details
Year built
1965
Floors in Building
1
Listing Agency:
Exp Realty
(866) 720-5056
Listed By:
Ashley Watters
(501) 951-9200
Added: Sep 11
Last Checked: Sep 17 at 10:06PM
MLS# 26037080
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,532-square-foot office building dates to 1965 and presents a mid-century modern design with distinctive interior details. Library paneling and uniquely shaped ceilings add visual character to the workspace. The property occupies 0.19 acres and is configured as an office asset suitable for professional practices such as legal, medical, and financial users, as identified in the property information.
The building fronts the Cantrell Road corridor, providing visibility from the roadway, and is located near downtown Little Rock. Its address is 916 Garland Street, Little Rock, AR 72201, in Pulaski County. The combination of a compact office footprint, established construction, and recognizable architectural elements gives the property a clear professional-office identity.
The building fronts the Cantrell Road corridor, providing visibility from the roadway, and is located near downtown Little Rock. Its address is 916 Garland Street, Little Rock, AR 72201, in Pulaski County. The combination of a compact office footprint, established construction, and recognizable architectural elements gives the property a clear professional-office identity.
Key Highlights
- 1,532‑square‑foot office building constructed in 1965
- Mid‑century modern architectural character
- Library paneling and distinctive ceiling treatments
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
$14,586
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
5.86%
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%
$291,720
$291.7K
Cap Rate 7%
$208,371
$208.4K
Cap Rate 9%
$162,067
$162.1K
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
$21.9K $14.28/SF
− Vacancy
−$2.4K −$1.59/SF
EGI
$19.4K $12.69/SF
− OpEx
−$4.9K −$3.17/SF
NOI
$14.6K $9.52/SF
Area
Little Rock, AR
Vacancy
11.10%
Lease Rate
$14.28 /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%
$291,720
Cap Rate 7%
$208,371
Cap Rate 9%
$162,067
Alternative Uses
Best Use
Office B
$208.4K
$182.3K – $243.1K
NOI $14,586 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.3K
$243.5K – $324.7K
NOI $19,481 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,903
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Character-rich interior features library paneling and distinctive ceilings.
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 $249,000.
What are key features of this property?
This property features: 1,532‑square‑foot office building constructed in 1965; Mid‑century modern architectural character; Library paneling and distinctive ceiling treatments
