Sign Up Successful!
You now have access to more from Realmo!
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

    2002 University Ave Little Rock, AR 72207-4300

    • Medical offices
    • 2,285 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Nov 24, 2024
    $760,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-2342572
    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

    • Schneider Werner W DDS / Dentist
    • Russell William A DDS / Dentist
    • Russell & Schneider / Dentist

    Property Details for 2002 University Ave

    Year built
    1955
    Lot size
    0.16 lot acres
    Property size
    2,285 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    43L-057-00-001-00
    APU
    43L0570000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3409
    Latitude
    34.7705
    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
    $5,475
    $62,721
    $45,404
    $108,125
    -
    $313,605
    $227,020
    $540,625

    Comparable in this City

    • Value Estimation by Request
      1,339 SF

      5307 Kavanaugh Blvd

      MEDICAL BUILDING • 1,339 SF
      5307 Kavanaugh Blvd, Little Rock, AR 72207-4610
      View Details
    • Value Estimation by Request
      2,400 SF

      2001 Georgia Ave

      MEDICAL BUILDING • 2,400 SF
      2001 Georgia Ave, Little Rock, AR 72207-5014
      View Details
    • Value Estimation by Request
      1,658 SF

      1919 Fillmore St

      MEDICAL BUILDING • 1,658 SF
      1919 Fillmore St, Little Rock, AR 72207-4406
      View Details
    • Value Estimation
      $4,050,000
      9,969 SF

      1024 University Ave

      MEDICAL CLINIC • 9,969 SF
      1024 University Ave, Little Rock, AR 72207-6347
      View Details
    • Value Estimation by Request
      4,276 SF

      7000 Cantrell Rd

      MEDICAL BUILDING • 4,276 SF
      7000 Cantrell Rd, Little Rock, AR 72207-4139
      View Details
    • Value Estimation
      $505,000
      3,008 SF

      6805 Cantrell Rd

      MEDICAL BUILDING • 3,008 SF
      6805 Cantrell Rd, Little Rock, AR 72207-4134
      View Details

    Similar Nearby for Sale

    • $225,000
      0.73 Acres

      Residential Lot with Sunset Views

      Residential lot in a quiet area with great views.
      17 Woodglen Rd, Little Rock, AR 72207
      View Details
    • $749,000
      6,632 SF

      Little Rock Home Investor Package

      Six single-family homes for sale in Little Rock, Arkansas.
      6 Home Investor Package, Little Rock, AR 72207
      View Details
    • $245,000
      0.63 Acres

      Residential Lot in Woodglen Park

      Residential lot in a modern neighborhood with convenient amenities.
      12 Woodglen Rd, Little Rock, AR 72207
      View Details
    • $225,000
      3.12 Acres

      Little Rock Residential Lot

      3+ acre residential lot with creek and waterfall views.
      10 Greathouse Bend Dr, Little Rock, AR 72207
      View Details
    • $350,000
      0.60 Acres

      University Evergreen Commercial Lot

      0.6-acre commercial land, Little Rock.
      3 University Evergreen, Little Rock, AR 72207
      View Details
    • $225,000
      0.63 Acres

      Residential Lot in Quiet Area

      Residential lot with potential owner financing and creek access.
      21 Woodglen Rd, Little Rock, AR 72207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      48,500 SF

      Tanglewood Center: Office Suites

      Little Rock Office Space: Flexible Lease Terms
      7509 Cantrell Rd, Little Rock, AR 72207
      View Details
    • $500 /Mo
      45,800 SF

      Renovated Retail/Office Space Available

      Retail and office space in Midtown Little Rock for lease.
      7509 Cantrell Rd, Little Rock, AR 72207
      View Details
    • $22 SF/Yr
      52,386 SF

      Retail Space on Cantrell Road

      Prime retail space in Little Rock's Westgate Center.
      6815 Cantrell Rd, Little Rock, AR 72207
      View Details
    • $13 SF/Yr
      15,000 SF

      Midtown Little Rock Office Suites

      Executive Office Space Available Now
      1501 Pierce St, Little Rock, AR 72207
      View Details
    • $17 SF/Yr
      36,256 SF

      Forest Heights Office Building, Little Rock

      Midtown Little Rock Office Space: 7 Suites Available
      1405 Pierce St, Little Rock, AR 72207
      View Details
    • $13 SF/Yr
      15,000 SF

      Professional Office Space Available

      Office suites available in a convenient location near Hillcrest and Heights.
      1501 N Pierce St, Little Rock, AR 72207
      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.
    2002 University Ave
    Little Rock, AR 72207-4300
    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.