Listing Agency: Exp Realty a***@exprealty.net Show Phone

Listed By: Ashley Watters Show Phone

Source: Exprealty

Added: Jul 30 Changed: Oct 3 Last Checked: Oct 21 at 1:37AM

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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.

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 / Yr

$14,611

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$292,220 $292.2K

Cap Rate 7%

$208,729 $208.7K

Cap Rate 9%

$162,344 $162.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,532 SF

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 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 (±1% cap)

NOI $14,611 @ 7.0% cap · market cap 5.87%

Second Best

Office B

$208.4K

$182.3K – $243.1K (±1% cap)

NOI $14,586 @ 7.0% cap · market cap 5.86%

Theoretical Best

Office A

$278.3K

$243.5K – $324.7K (±1% cap)

NOI $19,481 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Effective Touch, Etc ... Spa & Massage Center Bris Wax Hair Salon

Suggested Use

Top Pick Locksmith Veterinary Clinic Butcher (Bike/Boat/Book/etc) Store Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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 St 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: 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