Outpatient Medical Facility For
For Sale
Contact for pricing
2906 Market St, Pine Bluff, AR 71601
Outpatient medical facility leased to the Department of Veterans Affairs.
Property Size9,900 SF
Price / SF$174.21
Days on Market1608
Property Features for 2906 Market St
General Information
Standard status
Active
Size
9,900 SF
Class
A
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$125,040
Building Details
Year Built
2020
Buildings
1
Tenancy
Single
Listing Agency:
Legacy Realty Group
(870) 926-2357
Listed By:
Garrett McPherson · License #AR EB00072456
Source:
Crexi
Added: Mar 28, 2022
Changed: Aug 12
Last Checked: Aug 20 at 10:38AM
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 Legacy Realty Group
Investment Insights
Based on property information with market context.
An outpatient medical facility leased to the Department of Veterans Affairs is available for purchase in Pine Bluff, Arkansas. The property is fully leased with six years remaining on a ten-year lease. The VA clinic is located approximately 40 minutes from Little Rock, the capital city of Arkansas. The property benefits from a long lease term, with six years remaining on a firm ten-year government-backed lease that has no termination options. The tenant is guaranteed by the United States Government, General Services Administration (GSA). The property serves as a regional outpatient clinic and is the only VA clinic within a 45-mile radius. Almost 25% of the U.S. population is potentially eligible for V.A. benefits and services because they are veterans, family members, or survivors of veterans. Pine Bluff is the 10th largest city in the state of Arkansas with almost 45,000 people and a land mass of 46 square miles. Located in Jefferson County, Pine Bluff is in the heart of the Arkansas River Basin, an area known for its agriculture, including cotton, soybeans, and rice. The area also features the Saracen Casino and Resort, a development that cost over $350 million and employed over 1,000 people. The property size is 9,900 square feet.
Key Highlights
- 100% leased to the Department of Veterans Affairs (VA)
- Guaranteed by the United States Government (GSA)
- Six (6) years remaining on a Ten (10) year lease
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
$133,413
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
7.74%
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%
$2,668,260
$2.7M
Cap Rate 7%
$1,905,900
$1.9M
Cap Rate 9%
$1,482,367
$1.5M
Market Conditions
NOI Build-Up for 9,900 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
$200.8K $20.28/SF
− Vacancy
−$22.9K −$2.31/SF
EGI
$177.9K $17.97/SF
− OpEx
−$44.5K −$4.49/SF
NOI
$133.4K $13.48/SF
Area
Jefferson County, AR
Vacancy
11.40%
Lease Rate
$20.28 /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%
$2,668,260
Cap Rate 7%
$1,905,900
Cap Rate 9%
$1,482,367
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.22M
NOI $133,413 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$1.90M
$1.67M – $2.22M
NOI $133,255 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,673 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 71601, AR
13,881
Population
6,573
Households
2.1
Avg Household Size
34
Median Age
15%
College-Educated
86%
High-School Grad
115.4 sq mi
ZIP Area
120
Density / Sq Mi
$36,688
Median Household Income
$23,586
Median Earnings
$802
Median Rent
$67,800
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?
Medical Office Space - Outpatient medical facility leased to the Department of Veterans Affairs.
Where is this medical office space located?
The property is located at 2906 Market St Pine Bluff, AR.
What is the asking price?
The asking price for this property is $1,724,690.
What are key features of this property?
This property features: 100% leased to the Department of Veterans Affairs (VA); Guaranteed by the United States Government (GSA); Six (6) years remaining on a Ten (10) year lease
