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    Property profile & analytics

    18020 Chenal Pkwy Little Rock, AR 72223

    • Retail properties
    • 9,073 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 18020 Chenal Pkwy

    Property size
    9,073 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional opportunity presents two available spaces within the new Crossroads at Chenal I Strip Center in Little Rock, Arkansas. Located at 18020 Chenal Parkway, zip code 72223, this development offers a prime location in the desirable West Little Rock submarket. The property is zoned C-1 and features two single-story buildings totaling 9,073 square feet. The available spaces range from a minimum of 1,365 square feet to a maximum contiguous space of 4,451 square feet, providing flexibility for various business needs. The center boasts a total of five suites across both buildings, making it an ideal location for medical offices or traditional office spaces. The property is part of a larger mixed-use development, including restaurants, shopping, and a hotel, ensuring high visibility and foot traffic. This new construction strip center includes the added benefit of two drive-thru spaces. The property's convenient location and modern amenities make it an attractive option for businesses seeking a thriving commercial environment in West Little Rock. This is a multi-tenant property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.4597
    Latitude
    34.7713

    Comparable in this City

    • Value Estimation by Request
      2,456 SF

      16105 Chenal Pkwy

      Restaurants • 2,456 SF
      16105 Chenal Pkwy, Little Rock, AR 72223
      View Details
    • Value Estimation
      $765,000
      2,520 SF

      16524 Chenal Pkwy

      MEDICAL BUILDING • 2,520 SF
      16524 Chenal Pkwy, Little Rock, AR 72223-5920
      View Details
    • Value Estimation
      $255,000
      12,616 SF

      11700 Cantrell Rd

      MEDICAL BUILDING • 12,616 SF
      11700 Cantrell Rd, Little Rock, AR 72223-1705
      View Details
    • Value Estimation
      $455,000
      6,496 SF

      16301 Chenal Pkwy

      MEDICAL BUILDING • 6,496 SF
      16301 Chenal Pkwy, Little Rock, AR 72223-6115
      View Details
    • Value Estimation
      $1,005,000
      45,952 SF

      16221 Saint Vincent Way

      MEDICAL BUILDING • 45,952 SF
      16221 Saint Vincent Way, Little Rock, AR 72223-9072
      View Details
    • Value Estimation
      $430,000
      5,566 SF

      5400 Highland Dr

      MEDICAL CLINIC • 5,566 SF
      5400 Highland Dr, Little Rock, AR 72223-2002
      View Details

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      9,073 SF

      Crossroads Chenal: Prime Retail Space

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    Little Rock, AR 72223
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    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
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