Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Medical Office Space
1515 Bowman Rd Little Rock, AR 72211-4207
Entity Owned
5-yr Hold
Free & Clear
Property ID
US05-0387451
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Total area
28,376 SF
Lot
9.44 ac (411,206 SF)
APN
44L-078-04-018-00
UPID
US05-0387451
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bowman Business Park Real Estate Agency
-
Pediatric Gastroenterology Pediatrician Medical Clinic
-
Dr. Maryelle G. Vonlanthen, MD Pediatrician Medical Clinic
-
Casteel Helen B MD Pediatrician Medical Clinic
-
ContourMed Inc Orthotics & Prosthetics Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.17M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$745k
Owner & transaction history
City Of Little Rock · 5 yrs held
City Of Little Rock
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Little Rock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Little Rock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,510,000
6.5%
$4,165,000
7%
$3,865,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,660,000
Current use
RETAIL STORES
$4,335,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$26 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$103,082
Tax year 2024
Assessed value
$1,472,600
Assessed 2024
Previous assessed
$1,472,600
+0.0% YoY
Effective rate
7.00%
On assessed value
Assessed land
$328,944
Assessed improvement
$1,143,656
Land market value
$1,644,720
Improvement market value
$5,718,280
Total market value
$7,363,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Heating
NONE
Cooling
NONE
Buildings
4
Stories
1
Total area
28,376 SF
Lot
9.44 ac (411,206 SF)
APN
44L-078-04-018-00
UPID
US05-0387451
Jurisdiction
PULASKI
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.7M
RETAIL STORES
Est. value
$4.3M
MEDICAL BUILDING Current
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
9.44 ac
Current owner
From public records · entity-resolved
City Of Little Rock
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 241025, LITTLE ROCK, AR 72223-0001
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2023
—
Bowman Business Park LLC
—
Deed
related
$200,000 · First Security Bank
Nov 8, 2022
—
Bowman Business Park LLC
—
Deed
related
$130,000 · First Security Bank
Mar 11, 2021
—
City Of Little Rock
Bowman Business Park LLC
Warranty Deed
—
Jun 21, 2019
—
Bowman Business Park LLC
—
Deed
related
$200,000 · Bancorpsouth
—
—
Bowman Business Park LLC
—
Deed Of Trust
related
$200,000 · Bancorpsouth
—
—
Bowman Business Park LLC
—
Deed Of Trust
related
$3,749,701 · Bancorp South Bank
—
—
Bowman Business Park LLC
—
Deed Of Trust
related
$3,749,701 · Bancorp South Bank
—
—
Bowman Business Park LLC
—
Deed Of Trust
related
$4,000,000 · Bancorpsouth
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1515 Bowman Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
