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2851 Lakewood Village Dr, North Little Rock, AR 72116
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Property summary
AI-generated overview
Lakewood Village Shopping Center, a prominent 357,641 square foot, single-story shopping center in North Little Rock's LR - North Little Rock submarket, presents a unique investment opportunity. Built in 2000, this multi-tenant property sits on 40.35 acres and offers ample parking via cross-access. Currently, 43,165 square feet of retail space is available, divisible into units ranging from 1,500 to 24,222 contiguous square feet. The center boasts a strong tenant mix including Esporta Fitness, Edwards Food Giant Grocery, ULTA, JOANN Fabrics, Black Bear Diner, Crumbl Cookie, Brewski's North Pub and Grill, Corky's BBQ, Olive Garden, and Oak Street Health. High traffic counts are a key feature, with McCain Boulevard seeing over 31,000 vehicles per day and Highway 67 exceeding 87,000 vehicles per day. Placer AI data from April 2023 to April 2024 (pre-Edwards Food Giant opening) indicated over 3.6 million annual visits. A 7,815 square foot former TGI Friday's space is available near the McCain Boulevard entrance, ideal for restaurant or retail use. Various sizes of office, retail, and restaurant spaces are available to suit diverse business needs.
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1988
Total area
9,746 SF
Lot
23.09 ac (1,005,800 SF)
APN
23N-007-04-002-00
UPID
US05-0337866
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Shopping Center & Mall
-
Real Estate Agency
-
Construction Company General Contractor
-
Construction Company General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.05M
Owner & transaction history
since 2017
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Medical building
$1.7M
+118.8%
Retail stores
$965,000
+25.4%
Commercial (general)
$875,000
+13.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.05M
Value range
$945k – $1.16M
±10% around blend
Estimated value / SF
$108 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
50
Income certainty
100
$945k
blend $1.05M
$1.16M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,746 SF
Lot area
23.09 ac
Year built
1988
Stories
1
APN
23N-007-04-002-00
Assessed value
$3,423,200
Annual tax
$228,670
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$228,670
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.16M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
8.7 mi away · 9,450 SF
14.2 mi away · 8,000 SF
16.2 mi away · 9,730 SF
17.6 mi away · 9,354 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.05M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 34 sales
$79
+37%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $108/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+119%
vs current-use indication
Retail Stores
Commercial (general)
Auto Repair, Garage
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$47.15M
Move the market yield to see immediate price impact.
Value / SF
$4,838
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$2.97M
$59.41M
$42.43M
$33.00M
$3.30M
$66.01M
$47.15M
$36.67M
$3.63M
$72.61M
$51.86M
$40.34M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$750k
1.7 mi · Dec 2025 · $108/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$228,670
Tax year 2024
Assessed value
$3,423,200
Assessed 2024
Previous assessed
$3,423,200
+0.0% YoY
Effective rate
6.68%
On assessed value
Assessed land
$2,413,920
Assessed improvement
$1,009,280
Land market value
$12,069,600
Improvement market value
$5,046,400
Total market value
$17,116,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1988
Heating
NONE
Cooling
NONE
Buildings
7
Stories
1
Total area
9,746 SF
Lot
23.09 ac (1,005,800 SF)
APN
23N-007-04-002-00
UPID
US05-0337866
Jurisdiction
PULASKI
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Heating
NONE
Cooling
Yes
Stories
1
Buildings
7
Lot
23.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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