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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Office buildings
281 Newman Dr N Little Rock, AR 72117-1953
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US05-1145835
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Total area
4,000 SF
Lot
2.74 ac (119,354 SF)
APN
23S-057-00-036-14
UPID
US05-1145835
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$440k
Blend (final)
Blend
$555k
Owner & transaction history
Mag-ar 4400 Landers Road LLC · 9 yrs held
Mag-ar 4400 Landers Road LLC
since 2016
Last sale
$635,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$690,000
+128.4%
Retail stores
$395,000
+31.0%
Commercial (general)
$360,000
+18.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs N Little Rock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs N Little Rock submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$690,000
Change: +128% · Conversion: Easy
RETAIL STORES
$395,000
Change: +31% · Conversion: Moderate
COMMERCIAL (GENERAL)
$360,000
Change: +19% · Conversion: Easy
AUTO REPAIR, GARAGE
$350,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $635k (May 27 2025)
Last sale anchor
$635k
May 27 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$139 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$5,985
Tax year 2024
Assessed value
$114,883
Assessed 2024
Previous assessed
$114,883
+0.0% YoY
Effective rate
5.21%
On assessed value
Assessed land
$32,867
Assessed improvement
$82,016
Land market value
$164,335
Improvement market value
$410,080
Total market value
$574,415
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2008
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Total area
4,000 SF
Lot
2.74 ac (119,354 SF)
APN
23S-057-00-036-14
UPID
US05-1145835
Jurisdiction
PULASKI
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$690,000
RETAIL STORES
Est. value
$395,000
COMMERCIAL (GENERAL)
Est. value
$360,000
AUTO REPAIR, GARAGE
Est. value
$350,000
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
2.74 ac
Current owner
From public records · entity-resolved
Mag-ar 4400 Landers Road LLC
Entity
Mailing address
281 NEWMAN DR, NORTH LITTLE ROCK, AR 72117-1953
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2020
—
United Traders INC
—
Deed
related
—
Jun 2, 2020
—
United Traders INC
—
Deed
related
—
Mar 11, 2020
—
Mag Ar 4400 Landers Road LLC
—
Deed
related
—
May 14, 2019
—
United Trust
—
Deed
related
—
Dec 31, 2018
—
United Traders INC
—
Deed
related
$381,150 · Centennial Bank
Jun 26, 2018
—
United Traders INC
—
Deed
related
—
Jun 29, 2017
—
United Traders INC
—
Deed
related
$281,735 · Centennial Bank
Dec 14, 2016
—
Mag-ar 4400 Landers Road LLC
Prestige Toy LLC
Warranty Deed
—
Nov 21, 2016
—
United Traders INC
—
Deed
related
—
Sep 15, 2016
—
United Traders INC
—
Deed
related
$18,750 · Centennial Bank
—
—
United Trust
—
Loan Modification
related
—
—
—
United Traders INC
—
Loan Modification
related
—
—
—
United Traders INC
—
Loan Modification
related
—
—
—
United Traders INC
—
Loan Modification
related
—
—
—
United Traders INC
—
Loan Modification
related
—
—
—
United Traders INC
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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