Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Corner of 3rd St & State St Little Rock, AR 72201

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Vacant lot in downtown Little Rock near State Capitol.

    Type:Land
    Lot size:
    0.54 Acres
    Added:
    May 14, 2024
    Days on Market:
    717
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for Corner of 3rd St & State St

    General Information

    Standard status
    Active
    Lot size
    0.54 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Ashley Fondren

    Listing agent Ashley Fondren License #SA00091956

    Listing office Haybar Real Estate

    Listing date May 14, 2024

    Source Crexi

    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 Haybar Real Estate

    Overview

    Downtown Little Rock Vacant Lot

    This is a build-to-suit opportunity featuring a ±0.54 acre vacant lot located in downtown Little Rock. The property is situated near the State Capitol Building, Little Rock City Hall, the Financial Corridor, the River Market District, and the State House Convention Center. Several hotels and restaurants are also located nearby. An adjacent building is available for sale or lease.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.2799
    Latitude
    34.7467

    Nearby Similar for Sale

    • $498,000
      4,750 SF

      Versatile Commercial Property in Little Rock

      Income-producing property with multiple buildings and high-traffic location.
      4919 baseline rd, Little Rock, AR 72209
      View Details
    • $949,900
      7,620 SF

      Office/Warehouse with Fenced Yard

      7,620 SF office/warehouse with 2.34-acre fenced yard.
      7900 Doyle Springs Road, Little Rock, AR 72209-5320
      View Details
    • $1,000,000
      4,331 SF

      Renovated Retail Building on University

      4,300+ SF building on 2.25 acres in Little Rock.
      4700 S University Avenue, Little Rock, AR 72204
      View Details
    • $599,999
      5,773 SF

      Professional Building with Expansion Potential

      Well-maintained 5,773 SF building with ample parking and expansion lots.
      5100 W 12th Street, Little Rock, AR 72204
      View Details
    • $450,000
      2,938 SF

      Commercial Property in Little Rock

      Well-located commercial property with high visibility and strong investment potential.
      1425 S University Ave, Little Rock, AR 72204
      View Details
    • $891,840
      7,800 SF

      Versatile Building and Land Opportunity

      7800 SF building suited for office, church, or industrial uses.
      5303 33rd Road, Little Rock, AR 72204
      View Details
    • $4,500
      4,331 SF

      Renovated Commercial Building on University

      4,300+ SF building on 2.25 acres in Little Rock.
      4700 S University Avenue, Little Rock, AR 72204
      View Details
    • $425,000
      5,000 SF

      Little Rock Commercial Building/Land

      Turn-key commercial building in high-traffic Little Rock location.
      1817 S Woodrow, Little Rock, AR 72204
      View Details
    • $500,000
      3,654 SF

      Downtown Little Rock Office Building

      Versatile commercial property with customizable office suites in downtown Little Rock.
      1100 W 2nd Street, Little Rock, AR 72201
      View Details
    • $4,500,000
      11,993 SF

      West Little Rock Academy Facility

      Purpose-built academy facility in West Little Rock, Arkansas.
      610 Wellington Hills Road, Little Rock, AR 72211
      View Details
    • $324,000
      4,392 SF

      Fourplex Investment Opportunity in Little Rock

      Four-unit townhouse with renovation potential in a high-demand rental area.
      2007 Sanford Drive, Little Rock, AR 72227
      View Details
    • $825,000
      10,600 SF

      Two-Story Office Building with Parking

      Two-story office building with gated parking near downtown Little Rock.
      4016 Stannus, Little Rock, AR 72204
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant lot in downtown Little Rock near State Capitol.
    Where is this commercial land located?
    The property is located at Corner of 3rd St & State St Little Rock, AR.
    What are key features of this property?
    This property features: Prime downtown location near the State Capitol Building, LR City Hall, Financial Corridor, River Market District, and State House Convention Center.; Vacant ±0.54 acre lot presents a build‑to‑suit opportunity.; Option to purchase or lease the adjacent building.
    (501) 766-5155 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Ashley Fondren
    Real Estate License ID: SA00091956
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!