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    Property profile & analytics

    15500 Chenal Pkwy Little Rock, AR 72211-2018

    • Retail space
    • 14,981 SF
    • 1.73 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2022
    Value Estimations
    $1,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0317432
    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

    • Walgreens Photo / Passport Photo Processor / Photo Lab
    • Walgreens Pharmacy / Pharmacy
    • LibertyX Bitcoin ATM / Atm
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • Redbox / Movie Rental Kiosk / Dvd Store

    Property Details for 15500 Chenal Pkwy

    Year built
    2008
    Lot size
    1.73 lot acres
    Property size
    14,981 SF
    Property type
    Retail space
    APN
    44L-075-04-003-00
    APU
    44L0750400300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,290,000
      Current use
      COMMERCIAL (GENERAL)
      $2,790,000
      Change: +22% Conversion: Easy
      MEDICAL BUILDING
      $2,460,000
      Change: +8% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,955,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.4435
    Latitude
    34.7575
    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
    $37,156
    $327,352
    $203,448
    $530,800
    -
    $1,636,760
    $1,017,240
    $2,654,000

    Comparable in this City

    • Value Estimation
      $960,000
      8,284 SF

      12101 Markham St

      RETAIL STORES (PERSONAL SERVICES) • 8,284 SF
      12101 Markham St, Little Rock, AR 72211-2713
      View Details
    • Value Estimation
      $1,830,000
      24,000 SF

      11121 Markham St

      RETAIL STORES (PERSONAL SERVICES) • 24,000 SF
      11121 Markham St, Little Rock, AR 72211-2831
      View Details
    • Value Estimation by Request
      8,353 SF

      240 Shackelford

      Lifestyle centers • 8,353 SF
      240 Shackelford, Little Rock, AR 72211
      View Details
    • Value Estimation
      $5,740,000
      14,313 SF

      111 Bowman Rd

      RETAIL STORES (PERSONAL SERVICES) • 14,313 SF
      111 Bowman Rd, Little Rock, AR 72211-2783
      View Details
    • Value Estimation
      $1,225,000
      9,240 SF

      12305 Chenal Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 9,240 SF
      12305 Chenal Pkwy, Little Rock, AR 72211-2723
      View Details
    • Value Estimation
      $1,735,000
      14,332 SF

      12301 Chenal Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 14,332 SF
      12301 Chenal Pkwy, Little Rock, AR 72211-2723
      View Details

    Similar Nearby for Sale

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      New Retail Ground Lease Opportunity

      20-year absolute net ground lease, new construction, strong location.
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      16,055 SF

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    Similar Nearby for Lease

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      45,000 SF

      Bowman Station Medical Office Space

      West Little Rock medical office suites available
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      Chenal Park Centre III Office Space

      Little Rock, AR medical & office suites available.
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      68,610 SF

      Retail Space in Prime Location

      Retail suites available in Little Rock's premier retail corridor.
      12801 Chenal Pkwy, Little Rock, AR 72211
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    • Contact for pricing
      31,233 SF

      Bowman Curve Retail Center Space

      Little Rock retail space, multiple suites available.
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    • $23 SF/Yr
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      Chenal Parkway Retail Space Available

      Little Rock storefront, 5,000-12,207 sq ft.
      11600 Chenal Pkwy, Little Rock, AR 72211
      View Details
    • Contact for pricing
      2,072 SF

      Wellington Center Retail Space

      Little Rock Retail Pad Sites Available
      15400 Chenal Pkwy, Little Rock, AR 72211
      View Details
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    Little Rock, AR 72211-2018
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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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