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

    1501 Westpark Dr Little Rock, AR 72204

    • Industrial properties
    • 113,085 SF
    • 5.61 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0350139
    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

    • Best HVAC Parts & Supply / Hvac Contractor
    • Trade Fixtures/New Leaf Designs / Manufacturer
    • Harrison Energy Partners / Hvac Contractor

    Property Details for 1501 Westpark Dr

    Year built
    1979
    Lot size
    5.61 lot acres
    Property size
    113,085 SF
    Property type
    Industrial properties
    APN
    44L-109-00-003-00
    APU
    44L1090000300

    Description

    This ±70,000 square foot flex warehouse/office space is available for lease in Little Rock, Arkansas. Located at 1501 Westpark Dr, 72204, in Pulaski County, this property offers a prime location with convenient access to major interstates including I-630, I-430, I-30, and I-40, ensuring efficient transportation and logistics. The building boasts 18-foot clear ceiling heights, providing ample vertical space for storage or operations. The space includes functional office areas, a conference room, and a break room, catering to diverse business needs. The property features multiple loading options with four 10x10 overhead doors, four 8x8 overhead doors, two 8x8 box and straight-truck doors, one 14x14 grade-level roll-up door, and one 16x16 grade-level roll-up door. This versatile property is ideal for businesses requiring a blend of warehouse and office functionality, offering a strategic location and comprehensive amenities. The single-tenant occupancy ensures privacy and control. This is a fantastic opportunity to secure a well-appointed and strategically located industrial space in a thriving Arkansas market. Inquire today for lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,997,000
      Market price range: $2.09M - $11.4M
      AI Estimate
      $2,904,000
      Market price range: $1.73M - $10.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.351
    Latitude
    34.7389
    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
    $42,000
    $196,474
    $403,526
    $600,000
    -
    $982,370
    $2,017,630
    $3,000,000

    Comparable in this City

    • Value Estimation
      $1,335,000
      13,247 SF

      1300 Westpark Dr

      CONDOMINIUMS (INDUSTRIAL) • 13,247 SF
      1300 Westpark Dr, Little Rock, AR 72204-2413
      View Details
    • Value Estimation
      $2,380,000
      74,244 SF

      1601 Westpark Dr

      CONDOMINIUMS (INDUSTRIAL) • 74,244 SF
      1601 Westpark Dr, Little Rock, AR 72204-2418
      View Details
    • Value Estimation
      $660,000
      37,400 SF

      1701 Woodrow St

      CONDOMINIUMS (INDUSTRIAL) • 37,400 SF
      1701 Woodrow St, Little Rock, AR 72204-4167
      View Details
    • Value Estimation by Request
      1.67 Acres

      3120 Roosevelt Rd

      Land • 1.67 Acres
      3120 Roosevelt Rd, Little Rock, AR 72204
      View Details
    • Value Estimation by Request
      177,550 SF

      4201-4217 Shackleford Rd

      Flex space • 177,550 SF
      4201-4217 Shackleford Rd, Little Rock, AR 72204
      View Details
    • Value Estimation by Request
      4,000 SF

      7414 Stagecoach Rd

      CONDOMINIUMS (INDUSTRIAL) • 4,000 SF
      7414 Stagecoach Rd, Little Rock, AR 72204-8769
      View Details

    Similar Nearby for Sale

    • $1,000,000
      6,000 SF

      Little Rock Multi-Building Commercial Property

      Versatile industrial & retail space, high visibility location.
      7523 Colonel Glenn Rd, Little Rock, AR 72204
      View Details
    • $675,000

      Little Rock Industrial Flex Space

      ±6,400 SF Flex Space; Lease in Place
      1400 Westpark Dr, Little Rock, AR 72204
      View Details
    • $2,213,719
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      Little Rock Industrial Land - 7.26 Acres

      Prime I-1 zoned land, ideal for build-to-suit. High traffic count location.
      4800 Shackleford Rd, 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
    • $3,350,000
      10,878 SF

      Little Rock Office/Warehouse Investment

      10,878 SF Flex Space, Vacant, $3.35M
      9 Remington Dr, Little Rock, AR 72204
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    • $850,000
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      Little Rock Industrial Redevelopment

      6-acre lot, 10,000 SF building, vacant.
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    Similar Nearby for Lease

    • $5 SF/Yr
      71,821 SF

      Office/Warehouse Space Near I-630

      Office and warehouse spaces available near Interstate 630.
      1601 Westpark Dr, Little Rock, AR 72204
      View Details
    • $10 SF/Yr
      5,000 SF

      Industrial Space Near Colonel Glenn

      5,000 SF industrial space with dock-high and drive-in access.
      4205 S Shackleford Rd, Little Rock, AR 72204
      View Details
    • $6 SF/Yr
      6,000 SF

      Industrial Space with Office

      6,000 SF flex space with office and gated parking.
      6805 W 12Th St, Little Rock, AR 72204
      View Details
    • $6 SF/Yr
      20,000 SF

      Flex Warehouse with Office Space

      Flex/warehouse space with roll-up door and convenient I-630 access.
      1419 Westpark Dr, Little Rock, AR 72204
      View Details
    • $12 SF/Yr
      153,508 SF

      Village Shopping Center: Little Rock Retail

      Prime Little Rock retail/flex space available.
      3901 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
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    Little Rock, AR 72204
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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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