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

    1723 Merrill Dr Little Rock, AR 72212-4009

    • Office buildings
    • 5,844 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0429884
    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

    • Dance Dynamics / Dance School

    Property Details for 1723 Merrill Dr

    Year built
    1980
    Lot size
    0.56 lot acres
    Property size
    5,844 SF
    Property type
    Office buildings
    APN
    43L-112-00-011-00
    APU
    43L1120001100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.4
    Latitude
    34.7712
    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
    $6,091
    $53,421
    $33,599
    $87,020
    -
    $267,105
    $167,995
    $435,100

    Comparable in this City

    • Value Estimation
      $195,000
      616 SF

      2024 Arkansas Vly Dr Ste, Unit 205

      OFFICE BUILDING • 616 SF
      2024 Arkansas Vly Dr Ste, Little Rock, AR 72212-4141
      View Details
    • Value Estimation
      $195,000
      616 SF

      2024 Arkansas Vly Dr Ste, Unit 208

      OFFICE BUILDING • 616 SF
      2024 Arkansas Vly Dr Ste, Little Rock, AR 72212-4141
      View Details
    • Value Estimation
      $210,000
      616 SF

      2024 Arkansas Vly Dr Ste, Unit 804

      OFFICE BUILDING • 616 SF
      2024 Arkansas Vly Dr Ste, Little Rock, AR 72212-4147
      View Details
    • Value Estimation
      $200,000
      620 SF

      11500 Rodney Parham Rd, Unit 103

      OFFICE BUILDING • 620 SF
      11500 Rodney Parham Rd, Little Rock, AR 72212-4126
      View Details
    • Value Estimation
      $260,000
      620 SF

      11500 Rodney Parham Rd, Unit 106

      OFFICE BUILDING • 620 SF
      11500 Rodney Parham Rd, Little Rock, AR 72212-4126
      View Details
    • Value Estimation
      $260,000
      616 SF

      11500 Rodney Parham Rd, Unit 706

      OFFICE BUILDING • 616 SF
      11500 Rodney Parham Rd, Little Rock, AR 72212-4126
      View Details

    Similar Nearby for Sale

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      15,000 SF

      Cantrell Road Mixed-Use Investment

      15,000 SF Mixed-Use, 85% Leased
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      0.42 Acres

      Little Rock Commercial Land Opportunity

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      0 Rodney Parham Rd, Little Rock, AR 72212
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      0.29 Acres

      Residential Lots in Established Neighborhood

      Two vacant lots in a quiet, established neighborhood.
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    • $45,000
      0.56 Acres

      Residential Lot in Established Neighborhood

      Vacant lot ready for new construction near shopping and eateries.
      1508 Hillsborough Ln, Little Rock, AR 72212
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    • $65,000
      0.60 Acres

      Residential Lot in Little Rock

      Residential lot in a desirable Little Rock neighborhood.
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    • $159,900
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    Similar Nearby for Lease

    • $14 SF/Yr
      9,081 SF

      Rodney Parham District Office Space

      Office suites for lease in high-visibility Rodney Parham building.
      11524 N Rodney Parham Rd, Little Rock, AR 72212
      View Details
    • $18 SF/Yr
      37,572 SF

      Little Rock Office Space For Lease

      Prime Office Suite, High Traffic Area
      11300 Rodney Parham Rd, Little Rock, AR 72212
      View Details
    • $12 SF/Yr
      650 SF

      Remodeled Office Space For Rent

      Office complex remodeled in 2021, new roof in 2024.
      2024 Arkansas Valley Dr, Little Rock, AR 72212
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    • $17 SF/Yr
      1,805 SF

      Office Space Near I-430

      Office space for rent with conference room and highway access.
      11807 Hinson Rd, Little Rock, AR 72212
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    • $15 SF/Yr
      2,000 SF

      Office Space Available For Rent

      Office space for rent featuring carpet and LVT flooring.
      11220 N Rodney Parham Rd, Little Rock, AR 72212
      View Details
    • Contact for pricing
      944 SF

      Office Space Available For Rent

      944 square feet of office space for rent.
      11015 Arcade Dr, Little Rock, AR 72212
      View Details
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    1723 Merrill Dr
    Little Rock, AR 72212-4009
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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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