Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    603 Jack Stephens Dr Little Rock, AR 72205-5525

    • Medical offices
    • 161,779 SF
    • 2.45 lot acres
    OFF-MARKET
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0729065
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 603 Jack Stephens Dr

    Year built
    2012
    Lot size
    2.45 lot acres
    Property size
    161,779 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    34L-072-00-030-00
    APU
    34L0720003000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $725,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3182
    Latitude
    34.746
    CBSA code
    30780
    CBSA name
    LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $436,660
    $85,480
    $6,152,520
    $6,238,000
    -
    $427,400
    $30,762,600
    $31,190,000

    Comparable in this City

    • Value Estimation
      $875,000
      298,518 SF

      310 Cedar St

      MEDICAL BUILDING • 298,518 SF
      310 Cedar St, Little Rock, AR 72205
      View Details
    • Value Estimation
      $285,000
      198 SF

      1 Saint Vincent Cir Ste 140a

      MEDICAL BUILDING • 198 SF
      1 Saint Vincent Cir Ste 140a, Little Rock, AR 72205-5406
      View Details
    • Value Estimation
      $740,000
      126,109 SF

      9501 Baptist Health Dr

      MEDICAL BUILDING • 126,109 SF
      9501 Baptist Health Dr, Little Rock, AR 72205-6320
      View Details
    • Value Estimation
      $285,000
      100 SF

      1 Saint Vincent Cir Ste, Unit 155

      MEDICAL BUILDING • 100 SF
      1 Saint Vincent Cir Ste, Little Rock, AR 72205-5405
      View Details
    • Value Estimation
      $280,000
      165 SF

      9601 Baptist Health Dr, Unit 3D

      MEDICAL BUILDING • 165 SF
      9601 Baptist Health Dr, Little Rock, AR 72205-6321
      View Details
    • Value Estimation
      $510,000
      2,304 SF

      10020 Markham St

      MEDICAL BUILDING • 2,304 SF
      10020 Markham St, Little Rock, AR 72205-2130
      View Details

    Similar Nearby for Sale

    • $2,175,000
      18,916 SF

      Midtown Little Rock Office Building

      ±18,916 SF Office Building, $2.175M
      200 University Ave, Little Rock, AR 72205
      View Details
    • $480,000
      2,736 SF

      Freestanding Office Building Near UAMS

      Freestanding office building leased to UAMS, ideal investment opportunity.
      4324 W Markham St, Little Rock, AR 72205
      View Details
    • $2,100,000
      11,948 SF

      Medical Office Building For Sale

      Medical office building in Little Rock's medical corridor.
      424 N University Ave, Little Rock, AR 72205
      View Details
    • $2,175,000
      19,643 SF

      Midtown Office Building For Sale

      Two-story office building in Midtown's medical district.
      200 S University Ave, Little Rock, AR 72205
      View Details
    • $10,000,000
      98,065 SF

      98,065 SF Office Building

      98,065 SF office building on 10.519 AC lot.
      801 John Barrow Rd, Little Rock, AR 72205
      View Details
    • $795,000
      4,872 SF

      Mid-Town Office Building For Sale

      Two-story office building with parking and high street visibility.
      5312 W Markham St, Little Rock, AR 72205
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      18,158 SF

      Centremark Medical Office Suites

      Little Rock Medical Office Space Available
      10220 Markham St, Little Rock, AR 72205
      View Details
    • $20 SF/Yr
      26,400 SF

      Kanis Park Office Building For Lease

      Little Rock medical/creative office space available
      1401 Kanis Park Dr, Little Rock, AR 72205
      View Details
    • $16 SF/Yr
      30,000 SF

      Executive Court Office Space

      Little Rock, AR Office Suites Available
      320 Executive Ct, Little Rock, AR 72205
      View Details
    • Contact for pricing
      500,000 SF

      Midtown Medical Office Space

      500,000 SF Mixed-Use Development
      0 University Ave, Little Rock, AR 72205
      View Details
    • Contact for pricing
      1,925 SF

      Medical Office Suite For Rent

      Ground floor medical office suite near major medical facilities.
      9101 Kanis Rd, Little Rock, AR 72205
      View Details
    • $18 SF/Yr
      19,434 SF

      Professional Office Space Available

      Class A office building with ample parking and easy access.
      1225 Breckenridge Dr, Little Rock, AR 72205
      View Details
    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.
    603 Jack Stephens Dr
    Little Rock, AR 72205-5525
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.