Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Westpark Dr Little Rock, AR 72204-2418

    • Industrial properties
    • 74,244 SF
    • 3.93 lot acres
    OFF-MARKET
    Value Estimations
    $2,380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0440025
    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

    • ENVIRO-AIR Filtration Industries / Department Store
    • CrackerJack Air Pros Arkansas / HVAC Service / General Contractor
    • DataPath, Inc. / Software Company / Business Management Consultant
    • Dixie rents Furniture / Furniture & Home Goods / Home Decor Store
    • Daniel Medina / Physician

    Property Details for 1601 Westpark Dr

    Year built
    1983
    Lot size
    3.93 lot acres
    Property size
    74,244 SF
    Property type
    Industrial properties
    APN
    44L-109-00-004-00
    APU
    44L1090000400

    Description

    Westpark Warehouse offers 71,821 square feet of prime flex and warehouse space in Little Rock, Pulaski County. This multi-tenant property features two suites, with a minimum divisible space of 2,678 square feet and a maximum contiguous space of 5,700 square feet. Currently, 8,378 square feet are vacant, offering excellent opportunities for businesses seeking flexible solutions. The building boasts desirable features including 18-foot ceiling heights, providing ample vertical space for storage or high-volume operations. Dock-high loading doors ensure efficient and convenient loading and unloading of goods. The available space includes office areas, making it suitable for businesses requiring a blend of office and warehouse functionality. Suites can be combined to accommodate a wider range of space requirements, providing flexibility to meet diverse business needs. This property presents a unique opportunity for businesses seeking a functional and adaptable workspace in a strategic Little Rock location. The combination of warehouse and office space, along with the flexible suite options and convenient loading capabilities, makes this an attractive option for a variety of industries.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,623,000
      Market price range: $1.37M - $7.48M
      AI Estimate
      $1,906,000
      Market price range: $1.14M - $6.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3511
    Latitude
    34.7371
    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
    $27,566
    $122,373
    $271,427
    $393,800
    -
    $611,865
    $1,357,135
    $1,969,000

    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
      $3,575,000
      113,085 SF

      1501 Westpark Dr

      CONDOMINIUMS (INDUSTRIAL) • 113,085 SF
      1501 Westpark Dr, Little Rock, AR 72204-2694
      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
      $1,375,000
      16,800 SF

      1202 Business Park Dr

      CONDOMINIUMS (INDUSTRIAL) • 16,800 SF
      1202 Business Park Dr, Little Rock, AR 72204-2609
      View Details
    • Value Estimation
      $1,075,000
      15,342 SF

      1 Remington Dr

      CONDOMINIUMS (INDUSTRIAL) • 15,342 SF
      1 Remington Dr, Little Rock, AR 72204-8202
      View Details
    • Value Estimation
      $2,740,000
      51,200 SF

      5320 Shackleford Rd

      CONDOMINIUMS (INDUSTRIAL) • 51,200 SF
      5320 Shackleford Rd, Little Rock, AR 72204-8051
      View Details

    Similar Nearby for Sale

    • $479,000
      5,000 SF

      Little Rock Commercial Building and Land

      Turn-key commercial building in high-traffic area with diverse potential uses.
      1817 S Woodrow St, Little Rock, AR 72204
      View Details
    • $500,000
      10,000 SF

      Industrial Property on Colonel Glenn

      10,000 SF industrial site with yard space for sale.
      7609 Colonel Glenn Rd, Little Rock, AR 72204
      View Details
    • Contact for pricing

      Warehouse/Office Building on 5.5 Acres

      113,750 SF warehouse/office with easy access to major interstates.
      1501 Westpark Dr, Little Rock, AR 72204
      View Details
    • $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
    • Contact for pricing

      Warehouse and Office Space Available

      Combined warehouse and office space totaling 6,400 SF for sale.
      1400 Westpark Dr, Little Rock, AR 72204
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space For Rent

      Industrial space available with direct highway access in Little Rock.
      3201 S Elm St, Little Rock, AR 72204
      View Details
    • $5 SF/Yr

      Office/Warehouse Space Near I-630

      Office and warehouse spaces available near Interstate 630.
      1601 Westpark Dr, Little Rock, AR 72204
      View Details
    • $6 SF/Yr

      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
    • $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
    • $10 SF/Yr
      10,000 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
    • Contact for pricing
      10,878 SF

      Remington Warehouse: Little Rock Flex Space

      Versatile Little Rock warehouse/office space for lease.
      9 Remington Dr, Little Rock, AR 72204
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 Westpark Dr
    Little Rock, AR 72204-2418
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!