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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1224 Westpark Dr Little Rock, AR 72204-2411

    • Warehouses
    • 3,200 SF
    • 1.39 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    5%
    Warehouses
    Location Intelligence
    Property ID
    US05-0444848
    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

    • Warehouses

    Property Details for 1224 Westpark Dr

    Year built
    1990
    Lot size
    1.39 lot acres
    Property size
    3,200 SF
    Property type
    Warehouses
    APN
    44L-109-00-001-03
    APU
    44L1090000103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $245,000
      6.5%
      $225,000
      7%
      $210,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $265,000
      Market price range: $88.5k - $266k
      AI Estimate
      $288,000
      Market price range: $73.8k - $288k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $420,000
      AUTO REPAIR, GARAGE
      $365,000
      OFFICE BUILDING
      $355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3543
    Latitude
    34.7405
    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
    $4,536
    $42,654
    $22,146
    $64,800
    -
    $213,270
    $110,730
    $324,000

    Comparable in this City

    • Value Estimation
      $320,000
      2,505 SF

      1519 Woodrow St

      WAREHOUSE, STORAGE • 2,505 SF
      1519 Woodrow St, Little Rock, AR 72204-3273
      View Details
    • Value Estimation
      $305,000
      2,160 SF

      3401 Brown St

      WAREHOUSE, STORAGE • 2,160 SF
      3401 Brown St, Little Rock, AR 72204
      View Details
    • Value Estimation
      $245,000
      3,332 SF

      6623 Colonel Glenn Rd

      WAREHOUSE, STORAGE • 3,332 SF
      6623 Colonel Glenn Rd, Little Rock, AR 72204-7727
      View Details
    • Value Estimation
      $1,435,000
      4,800 SF

      3013 Lewis St

      WAREHOUSE, STORAGE • 4,800 SF
      3013 Lewis St, Little Rock, AR 72204-6434
      View Details
    • Value Estimation
      $105,000
      3,650 SF

      5005 33rd St

      WAREHOUSE, STORAGE • 3,650 SF
      5005 33rd St, Little Rock, AR 72204-7910
      View Details
    • Value Estimation
      $315,000
      8,133 SF

      5110 Talley Rd

      WAREHOUSE, STORAGE • 8,133 SF
      5110 Talley Rd, Little Rock, AR 72204-8032
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      113,750 SF

      Warehouse/Office Building on 5.5 Acres

      113,750 SF warehouse/office with easy access to major interstates.
      1501 Westpark Dr, Little Rock, AR 72204
      View Details
    • New
      $479,000
      5,000 SF

      Little Rock Commercial Building and Land

      Turn-key commercial building in high-traffic area with diverse potential uses.
      1817 S Woodrow St, Little Rock, AR 72204
      View Details
    • $75,000
      865 SF

      Insulated Metal Building in Little Rock

      Insulated metal building with office space, loading dock, and yard.
      5119 W 33Rd St, Little Rock, AR 72204
      View Details
    • $4,200,000
      15,284 SF

      Little Rock Industrial Property

      15,200 SF Flex Space, $4.2M
      1 Remington Dr, Little Rock, AR 72204
      View Details
    • $650,000
      6,400 SF

      Mixed-Use Warehouse and Office Space

      6,400 SF warehouse and office space for sale.
      1400 Westpark Dr, Little Rock, AR 72204
      View Details
    • Contact for pricing
      113,750 SF

      Little Rock Industrial Property

      Flex Warehouse Space - Sale/Lease
      1501 Westpark Dr, Little Rock, AR 72204
      View Details

    Similar Nearby for Lease

    • $782,500
      10,134 SF

      Versatile Commercial Space on University

      10,134 SF commercial space with fenced yard and parking.
      4418 S University Ave, Little Rock, AR 72204
      View Details
    • $9 SF/Yr
      38,400 SF

      Shackleford Road Warehouse Space

      Little Rock Office/Warehouse, 6,400 SF Available
      5320 Shackleford Rd, Little Rock, AR 72204
      View Details
    • $2,000,000
      29,832 SF

      Industrial Property with Fenced Lot

      29,832± SF industrial property on 11.18± acres.
      3801 Mabelvale Pike, Little Rock, AR 72204
      View Details
    • $7 SF/Yr
      12,241 SF

      Industrial Space Near Colonel Glenn

      Industrial space with dock-high doors, near Colonel Glenn Road.
      4209 S Shackleford Rd, Little Rock, AR 72204
      View Details
    • $5 SF/Yr
      71,821 SF

      Westpark Warehouse: Little Rock Flex Space

      Little Rock flex space; ideal for various businesses.
      1601 Westpark Dr, Little Rock, AR 72204
      View Details
    • Contact for pricing
      10,878 SF

      Remington Warehouse - Little Rock

      Versatile Flex Space, 3,626-10,878 SF
      11 Remington Dr, Little Rock, AR 72204
      View Details
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    1224 Westpark Dr
    Little Rock, AR 72204-2411
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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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