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    Property profile & analytics

    1500 3rd St Little Rock, AR 72201-1813

    • Office buildings
    • 6,000 SF
    • 0.44 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0472044
    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

    • Criminal Investigation Division / Government Office

    Property Details for 1500 3rd St

    Year built
    1964
    Lot size
    0.44 lot acres
    Property size
    6,000 SF
    Property type
    Office buildings
    APN
    34L-040-00-036-00
    APU
    34L0400003600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $431,000
      Market price range: $174k - $600k

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.2878
    Latitude
    34.7487
    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
    $7,401
    $37,980
    $73,560
    $111,540
    -
    $189,900
    $367,800
    $557,700

    Comparable in this City

    • Value Estimation
      $275,000
      1,040 SF

      104 State St

      OFFICE BUILDING • 1,040 SF
      104 State St, Little Rock, AR 72201-2122
      View Details
    • Value Estimation
      $265,000
      3,060 SF

      623 Woodlane St

      OFFICE BUILDING • 3,060 SF
      623 Woodlane St, Little Rock, AR 72201-1009
      View Details
    • Value Estimation
      $925,000
      83,506 SF

      200 Riv Market Ave

      OFFICE BUILDING • 83,506 SF
      200 Riv Market Ave, Little Rock, AR 72201-1752
      View Details
    • Value Estimation
      $270,000
      900 SF

      500 Markham St

      OFFICE BUILDING • 900 SF
      500 Markham St, Little Rock, AR 72201-1415
      View Details
    • Value Estimation
      $285,000
      1,949 SF

      212 Ctr St

      OFFICE BUILDING • 1,949 SF
      212 Ctr St, Little Rock, AR 72201-2429
      View Details
    • Value Estimation
      $615,000
      38,000 SF

      1116 8th St

      OFFICE BUILDING • 38,000 SF
      1116 8th St, Little Rock, AR 72201-3919
      View Details

    Similar Nearby for Sale

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      45,000 SF office condo with I-30 visibility.
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    • $499,000
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      Downtown Little Rock Office Building

      Historic office building in Little Rock's downtown business district.
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      Historical Office Building in Little Rock

      6,480 SF office building in vibrant Little Rock area.
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    • $274,500
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      Mid-Century Office Building For Sale

      Mid-century office building with high visibility near downtown Little Rock.
      916 Garland St, Little Rock, AR 72201
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    • $3,600,000
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      Downtown Little Rock Office Building

      41,000 SF multi-story office building in revitalized Main Street.
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    • $999,500
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      Historic Solomon Gans House For Sale

      Historic building with office space, carriage house, and parking.
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    Similar Nearby for Lease

    • $14 SF/Yr
      73,889 SF

      Downtown Little Rock Office Space

      Prime office space in revitalized downtown Little Rock.
      105 W Capitol Ave, Little Rock, AR 72201
      View Details
    • New
      $2,200 /Mo
      1,000 SF

      Historic Tuf Nut Lofts Space

      Downtown Little Rock creative space in historic Tuf Nut Lofts.
      300 River Market Ave, Little Rock, AR 72201
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    • $15 SF/Yr
      2,238 SF

      Little Rock Executive Office Building

      Prime Downtown Office Space, 2,238 SF
      210 State St, Little Rock, AR 72201
      View Details
    • $17 SF/Yr
      269,966 SF

      Union Plaza Office Space

      Little Rock, AR: Executive & Traditional Office Suites
      124 Capitol Ave, Little Rock, AR 72201
      View Details
    • $19 SF/Yr
      1,952 SF

      River Market Creative Office Space

      Open office space in the River Market area.
      319 President Clinton Ave, Little Rock, AR 72201
      View Details
    • $16 SF/Yr
      11,206 SF

      Full Floor Office Space

      Office space for rent with on-site parking.
      1020 W 4Th St, Little Rock, AR 72201
      View Details
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    1500 3rd St
    Little Rock, AR 72201-1813
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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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