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    1509 Mart Dr Little Rock, AR 72202-1881
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    Property profile & analytics

    1509 Mart Dr Little Rock, AR 72202-1881

    View on Map
    • Office buildings
    • 4,530 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US05-0428154
    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.
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • First Financial Centaurus / Financial Advisor
    • Louie's Unique Framing & Gallery / Art Gallery / Picture Frame Shop
    • FedEx Drop Box / Postal Service / Courier Service
    • Reunion Associate Inc / Financial Advisor

    Property Details for 1509 Mart Dr

    Year built
    1973
    Lot size
    0.23 lot acres
    Property size
    4,530 SF
    Property type
    Office buildings
    APN
    33L-053-00-016-00
    APU
    33L0530001600

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $765,000
      6.5%
      $710,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $559,000
      Market price range: $217k - $600k
      AI Estimate
      $519,000
      Market price range: $155k - $698k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $450,000
      Current use
      COMMERCIAL (GENERAL)
      $845,000
      Change: +87% Conversion: Easy
      MEDICAL BUILDING
      $745,000
      Change: +65% Conversion: Easy
      RETAIL STORES
      $690,000
      Change: +53% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $590,000
      Change: +31% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $520,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3109
    Latitude
    34.7646
    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
    $5,641
    $36,065
    $44,515
    $80,580
    -
    $180,325
    $222,575
    $402,900

    Comparable in this City

    • Value Estimation by Request
      709 SF

      3700 Cantrell Rd, Unit 210

      OFFICE BUILDING • 709 SF
      3700 Cantrell Rd, Little Rock, AR 72202-1842
      View Details
    • Value Estimation
      $24,790,000
      167,936 SF

      700 9th St

      OFFICE BUILDING • 167,936 SF
      700 9th St, Little Rock, AR 72202-3978
      View Details
    • Value Estimation by Request
      836 SF

      700 9th St Ste 1j

      OFFICE BUILDING • 836 SF
      700 9th St Ste 1j, Little Rock, AR 72202-3985
      View Details
    • Value Estimation by Request
      1,956 SF

      1707 Daisy L Gatson Bates Dr

      OFFICE BUILDING • 1,956 SF
      1707 Daisy L Gatson Bates Dr, Little Rock, AR 72202-5314
      View Details
    • Value Estimation
      $935,000
      28,776 SF

      1600 Dr Martin Luther King Dr

      OFFICE BUILDING • 28,776 SF
      1600 Dr Martin Luther King Dr, Little Rock, AR 72202-6073
      View Details
    • Value Estimation
      $2,895,000
      97,461 SF

      1 World Ave

      OFFICE BUILDING • 97,461 SF
      1 World Ave, Little Rock, AR 72202-2863
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      41,000 SF

      Renovated Office Space with Loading

      Recently renovated office space with convenient access and loading dock.
      701-711 W 7Th St, Little Rock, AR 72202
      View Details
    • Contact for pricing
      59,987 SF

      Office Building with Ample Parking

      59,987 SF office building on 0.73 AC lot.
      1200 W 3Rd St, Little Rock, AR 72202
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      East Village Office Building

      Office building in the trending East Village neighborhood.
      1 World Ave, Little Rock, AR 72202
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    • Contact for pricing
      5,400 SF

      Two-Story Office Building For Lease

      5,400 SF office building with conference center and parking.
      523 E Capitol Ave, Little Rock, AR 72202
      View Details
    • Contact for pricing
      52,000 SF

      Riverfront Drive Office Building

      56,000 SF office building for sale or lease.
      1500 Riverfront Dr, Little Rock, AR 72202
      View Details
    • $1,395,000
      49,000 SF

      Mixed-Use Building in Little Rock

      49,000 SF building with warehouse, office, and kitchen space.
      1110 W 7Th St, Little Rock, AR 72202
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Class A Office Space

      Office space for lease with river views and trail access.
      100 River Bluff Dr, Little Rock, AR 72202
      View Details
    • Contact for pricing

      Riverfront Drive Office Building

      56,000 SF office building for lease or sale.
      1500 Riverfront Dr, Little Rock, AR 72202
      View Details
    • Contact for pricing

      Historic Office Building For Rent

      Charming historic office building in downtown Little Rock.
      700 Rock St, Little Rock, AR 72202
      View Details
    • Contact for pricing
      10,000 SF

      Office Building in Riverdale Neighborhood

      Office building for lease in a growing neighborhood.
      2100 Brookwood Dr, Little Rock, AR 72202
      View Details
    • Contact for pricing
      8,600 SF

      Office Space For Rent

      8,600 SF office space available for lease.
      2800 Cantrell Rd, Little Rock, AR 72202
      View Details
    • $144 SF/Yr
      2,880 SF

      Downtown Little Rock Flex Space

      Versatile 2,880 sq ft flex space; prime location.
      415 12Th St, Little Rock, AR 72202
      View Details
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    Little Rock, AR 72202-1881
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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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