West Little Rock Office
For Sale
Contact for pricing
7 Office Park Dr, Little Rock, AR 72211
Medical and professional office building in a convenient, peaceful location.
Property Size21,423 SF
Price / SF$130.47
Days on Market841
Property Features for 7 Office Park Dr
General Information
Standard status
Active
Size
21,423 SF
Class
B
Property subtype
Office
Zoning
O-3
Building Details
Year Built
1987
Buildings
1
Stories
2
Listing Agency:
RPM Group
Listed By:
Reed Gibbons · License #AR SA00059049
(501) 664-1775
Source:
Crexi
Added: May 15, 2024
Changed: Aug 31
Last Checked: Sep 1 at 6:07PM
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 RPM Group
Investment Insights
Based on property information with market context.
This medical and professional office building is located just off the I-630/I-430 interchange, providing accessibility to major thoroughfares. The property is situated near Arkansas Heart Hospital, Baptist Health Medical Center, retail establishments, restaurants, and hotels. Features include a shared conference room and on-site parking. The property is located in a cul-de-sac setting in West Little Rock. A tenant improvement allowance of $15 per square foot is available. The property contains 21,423 square feet.
Key Highlights
- Premium medical/professional office building with exceptional accessibility to I‑630 and I‑430.
- Conveniently located near Arkansas Heart Hospital, Baptist Health Medical Center, retail, restaurants, and hotels.
- Abundant on‑site parking.
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
$204,315
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
7.31%
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%
$4,086,300
$4.1M
Cap Rate 7%
$2,918,786
$2.9M
Cap Rate 9%
$2,270,167
$2.3M
Market Conditions
NOI Build-Up for 21,423 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
$383.0K $17.88/SF
− Vacancy
−$42.5K −$1.98/SF
EGI
$340.5K $15.90/SF
− OpEx
−$136.2K −$6.36/SF
NOI
$204.3K $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%
$4,086,300
Cap Rate 7%
$2,918,786
Cap Rate 9%
$2,270,167
Alternative Uses
Best Use
Healthcare Medical
$2.92M
$2.55M – $3.41M
NOI $204,315 @ 7.0% cap · market cap 7.31%
Second Best
Office B
$2.91M
$2.55M – $3.40M
NOI $203,972 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$3.89M
$3.41M – $4.54M
NOI $272,420 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,425
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72211, AR
24,338
Population
12,009
Households
2
Avg Household Size
35
Median Age
56%
College-Educated
97%
High-School Grad
8.3 sq mi
ZIP Area
2,932
Density / Sq Mi
$80,808
Median Household Income
$53,527
Median Earnings
$1,142
Median Rent
$257,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical and professional office building in a convenient, peaceful location.
Where is this medical office space located?
The property is located at 7 Office Park Dr Little Rock, AR.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Premium medical/professional office building with exceptional accessibility to I‑630 and I‑430.; Conveniently located near Arkansas Heart Hospital, Baptist Health Medical Center, retail, restaurants, and hotels.; Abundant on‑site parking.
