Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1501 Main St North Little Rock, AR 72114
    Back to Search

    Meet Realmo: The Largest Hub of Commercial Real Estate in the US

    Over 1 million active listings and over 150 million property profiles

    Property profile & analytics

    1501 Main St North Little Rock, AR 72114

    View on Map
    • Apartment buildings
    • 1,000 SF
    • 0.16 lot acres
    For Sale
    $525,000
    View Listing →
    North Little Rock Multifamily Investment For Sale
    $525,000
    1,000 SF

    North Little Rock Multifamily Investment

    Five-unit complex, prime location, value-add potential.

    1501 Main St, North Little Rock, AR 72114
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1501 Main St

    Lot size
    0.16 lot acres
    Property size
    1,000 SF
    Property type
    Apartment buildings

    Description

    This exceptional multifamily investment opportunity in North Little Rock, Arkansas, comprises three properties: 1501 and 1503 Main Street, and 1500 Maple Street. The Main Street properties boast a combined five units, totaling between 1,000 and 10,000 square feet, and were fully renovated in 2018. Currently operating as short-term rentals, these properties offer immediate income potential. 1500 Maple Street presents a significant value-add opportunity, requiring complete renovation. The combined lot size ranges from 0.16 to 0.42 acres. Built between 1937 and 1944, this portfolio benefits from its strategic location just 1.1 miles from Simmons Bank Arena and a short distance from the vibrant Historic Argenta Arts District. This district is home to Dickey-Stephens Park, the Argenta Contemporary Theatre, and numerous local amenities. The property's convenient access to major transportation arteries, including I-40 (1.5 miles) and I-30 (0.4 miles), further enhances its appeal. The asking price for this entire portfolio is $525,000, presenting a compelling investment opportunity for discerning buyers seeking a mix of immediate income and future development potential in a thriving Arkansas market. The Pulaski County location offers strong potential for rental income and appreciation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.2675
    Latitude
    34.7685

    Comparable in this City

    • Value Estimation
      $2,105,000
      174,878 SF

      2301 Division St

      HIGH-RISE APARTMENTS • 174,878 SF
      2301 Division St, N Little Rock, AR 72114-1944
      View Details
    • Value Estimation
      $44,710,000
      382,828 SF

      75 Riverfront Dr

      HIGH-RISE APARTMENTS • 382,828 SF
      75 Riverfront Dr, N Little Rock, AR 72114-5948
      View Details
    • Value Estimation
      $950,000
      64,568 SF

      Bishop Lindsey Dr

      HIGH-RISE APARTMENTS • 64,568 SF
      Bishop Lindsey Dr, N Little Rock, AR 72114
      View Details
    • Value Estimation
      $1,395,000
      47,654 SF

      630 Riverfront Dr

      HIGH-RISE APARTMENTS • 47,654 SF
      630 Riverfront Dr, N Little Rock, AR 72114-5595
      View Details
    • Value Estimation by Request
      4,836 SF

      Palm St

      HIGH-RISE APARTMENTS • 4,836 SF
      Palm St, N Little Rock, AR 72114
      View Details
    • Value Estimation
      $1,625,000
      167,408 SF

      2500 Willow St

      HIGH-RISE APARTMENTS • 167,408 SF
      2500 Willow St, N Little Rock, AR 72114-2241
      View Details

    Similar Nearby for Sale

    • $525,000
      1,000 SF

      North Little Rock Multifamily Investment

      Five-unit complex, prime location, value-add potential.
      1501 Main St, North Little Rock, AR 72114
      View Details
    • $175,000
      1,742 SF

      Remodeled Duplex with Tenants

      Completely remodeled duplex in North Little Rock, tenant occupied.
      2008 Flora St, North Little Rock, AR 72114
      View Details
    • $86,000
      1,150 SF

      North Little Rock Duplex

      Charming duplex with long-term tenants, a cash-flowing investment.
      220 College Park Cir, North Little Rock, AR 72114
      View Details
    • $210,000
      2,610 SF

      Updated Duplexes in Developing Area

      Two updated duplexes, great investment opportunity near downtown Little Rock.
      2804 Lincoln Ave, North Little Rock, AR 72114
      View Details
    • $215,000
      1,632 SF

      Renovated Duplex in North Argenta

      Updated duplex with modern amenities in a vibrant location.
      301 E 19Th St, North Little Rock, AR 72114
      View Details
    • $89,500
      1,528 SF

      North Little Rock Duplex

      Duplex in North Little Rock, AR. Cash flowing investment.
      122 College Park Cir, North Little Rock, AR 72114
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse and Distribution Space Available

      Warehouse and distribution spaces for lease with full-access rail spur.
      605 E 10Th St, North Little Rock, AR 72114
      View Details
    • $4,700 /Mo
      11,000 SF

      Functional Warehouse Space For Lease

      11,000± SF warehouse space in North Little Rock, AR.
      200 N Cedar St, North Little Rock, AR 72114
      View Details
    • Contact for pricing
      108,000 SF

      North Little Rock Warehouse Space

      108,000 SF warehouse space available for lease.
      1650 E Washington Ave, North Little Rock, AR 72114
      View Details
    • Contact for pricing
      2,575 SF

      North Little Rock Office Space

      Office space featuring an open work area and break area.
      301 N Main St, North Little Rock, AR 72114
      View Details
    • Contact for pricing

      46.63 Acres of Land Available

      46.63 acres of land for rent.
      60 Lori Ln, North Little Rock, AR 72114
      View Details
    • $5,400 /Mo
      11,300 SF

      North Little Rock Flex Space

      Versatile industrial space with convenient access to major transportation routes.
      2222 E Broadway St, North Little Rock, AR 72114
      View Details
    View Listing
    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.
    1501 Main St
    North Little Rock, AR 72114
    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

    Thank You for Inquiry
    1501 Main St, North Little Rock, AR, 72114
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!