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

    2704 Gribble St North Little Rock, AR 72201

    • Commercial real estate
    For Sale
    View listing
    $149,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0437203
    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

    • Commercial real estate

    Property Details for 2704 Gribble St

    Property type
    Commercial real estate

    Description

    This exceptional 21,070 square foot parcel of land, located at 2704 Gribble Street in North Little Rock, Arkansas, presents a unique investment opportunity. Priced at $149,000, this translates to an attractive $7.12 per square foot. The property boasts a stunning view of the Arkansas River and offers convenient street access. Its dual zoning allows for both commercial and residential development, providing considerable flexibility for future projects. The location is highly desirable, situated near the vibrant downtown Little Rock and Argenta areas, ensuring easy access to amenities, businesses, and a thriving community. This vacant land is ready for immediate development, presenting a blank canvas for creative vision and entrepreneurial endeavors. The property's riverfront position offers unparalleled scenic beauty and potential for unique architectural designs. With its prime location, versatile zoning, and competitive price point, this property represents a compelling investment opportunity for developers and investors alike. The address is 2704 Gribble St, North Little Rock, AR 72114, within Pulaski County.

    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
    North Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.237300754706
    Latitude
    34.749825869944

    Comparable in this City

    • $315,000

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    • $1,750,000
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      7.21 Acres North Little Rock Development

      Prime 7.21-acre development site, ideal for mixed-use.
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    • $424,000
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      Argenta Income Producing Property

      Turnkey property in Argenta with consistent income and occupancies.
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    • $525,000
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      North Little Rock Multifamily Investment

      Five-unit complex, prime location, value-add potential.
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    • $175,000
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      Remodeled Duplex with Tenants

      Completely remodeled duplex in North Little Rock, tenant occupied.
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    • $820,000
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      Single Family Package Investment Opportunity

      Portfolio of single-family homes and a triplex for sale.
      2420 Division St, North Little Rock, AR 72114
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    Similar Nearby for Sale

    • $315,000

      Multi-Family Lot Package Listing

      Two houses plus corner lot zoned C-3 in North Little Rock.
      2120 Main St, North Little Rock, AR 72114
      View Details
    • $1,750,000
      7.21 Acres

      7.21 Acres North Little Rock Development

      Prime 7.21-acre development site, ideal for mixed-use.
      1004 Washington Ave, North Little Rock, AR 72114
      View Details
    • $424,000
      3,478 SF

      Argenta Income Producing Property

      Turnkey property in Argenta with consistent income and occupancies.
      1501 Main Street Brg, North Little Rock, AR 72114
      View Details
    • $525,000
      1,000 SF

      North Little Rock Multifamily Investment

      Five-unit complex, prime location, value-add potential.
      1501 Main St, North Little Rock, AR 72114
      View Details
    • $175,000
      1,742 SF

      Remodeled Duplex with Tenants

      Completely remodeled duplex in North Little Rock, tenant occupied.
      2008 Flora St, North Little Rock, AR 72114
      View Details
    • $820,000
      1,000 SF

      Single Family Package Investment Opportunity

      Portfolio of single-family homes and a triplex for sale.
      2420 Division St, North Little Rock, AR 72114
      View Details

    Similar Nearby for Lease

    • $725 /Mo

      Charming Duplex Near Argenta District

      Cozy 2BD/1BA duplex, convenient location, move-in special!
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    • Contact for pricing

      Commercial Land at Park Plaza

      1.47 acres of commercial land for lease.
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      Office space featuring an open work area and break area.
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    • $1.50 SF/Yr
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      North Little Rock Warehouse Space

      108,000 SF warehouse space available for lease.
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    • $4,700 /Mo
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      Functional Warehouse Space For Lease

      11,000± SF warehouse space in North Little Rock, AR.
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    North Little Rock, AR 72201
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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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