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    3901 S University Ave Little Rock, AR 72204
    Property profile & analytics

    3901 S University Ave Little Rock, AR 72204

    View on Map
    • Strip malls
    • 152,350 SF
    • 15.40 lot acres
    For Lease
    $14,375,000
    View Listing →
    Retail and Flex Space Available For Lease
    $14,375,000
    6,000 SF

    Retail and Flex Space Available

    Retail, flex, and industrial spaces for lease in Little Rock.

    3901 S University Ave, Little Rock, AR 72204
    View Listing
    Property ID
    US05-0618342
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • dd's DISCOUNTS / Clothing Store / Department Store
    • Kontiki African Restaurant / Restaurant
    • KRAFTASTIC KREATIONS / (Bike/Boat/Book/etc) Store
    • Amazon Counter - Express Wireless / Courier Service / Postal Service
    • The Hair Trap / Hair Salon

    Property Details for 3901 S University Ave

    Year built
    1951
    Lot size
    15.40 lot acres
    Property size
    152,350 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    34L-298-01-001-00
    APU
    34L2980100100

    Description

    The Village Shopping Center, located at 3901 S University Ave in Little Rock, Arkansas (zip code 72204), offers a unique opportunity for businesses seeking flexible retail, industrial, or restaurant space. This multi-tenant property boasts a total of 153,508 square feet across three suites, situated on a 0.82-acre lot in Pulaski County. Currently, 8,100 square feet of space is available for lease. The minimum leasable space is 2,100 square feet, with a maximum contiguous space of 6,000 square feet. The property's flexible design caters to a variety of business needs. Its convenient location near the University of Arkansas at Little Rock (UALR) provides excellent visibility and accessibility. In addition to the main building, there is also a ±6,000 square foot outparcel building available, and a ±2,100 square foot outparcel is also available for ground lease. This presents a compelling opportunity for businesses seeking a prominent location in a thriving Little Rock area. The property's diverse space options and strategic location make it an ideal choice for businesses seeking growth and expansion. Interested parties should inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $19,895,000
      Current use
      RETAIL STORES
      $23,265,000
      Change: +17% Conversion: Easy
      AUTO REPAIR, GARAGE
      $17,445,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $16,890,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.3408
    Latitude
    34.7155
    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
    $117,051
    $402,494
    $1,269,666
    $1,672,160
    -
    $2,012,470
    $6,348,330
    $8,360,800

    Comparable in this City

    • Value Estimation
      $1,205,000
      10,730 SF

      4401 12th St

      SHOPPING CENTER, STRIP CENTER • 10,730 SF
      4401 12th St, Little Rock, AR 72204-1921
      View Details
    • Value Estimation
      $2,910,000
      23,970 SF

      10912 Colonel Glenn Rd

      SHOPPING CENTER, STRIP CENTER • 23,970 SF
      10912 Colonel Glenn Rd, Little Rock, AR 72204-8010
      View Details
    • Value Estimation
      $2,225,000
      81,788 SF

      6420 Colonel Glenn Rd

      SHOPPING CENTER, STRIP CENTER • 81,788 SF
      6420 Colonel Glenn Rd, Little Rock, AR 72204-7724
      View Details
    • Value Estimation
      $2,240,000
      20,000 SF

      6227 Colonel Glenn Rd

      SHOPPING CENTER, STRIP CENTER • 20,000 SF
      6227 Colonel Glenn Rd, Little Rock, AR 72204-7731
      View Details
    • Value Estimation
      $750,000
      15,334 SF

      6323 Colonel Glenn Rd

      SHOPPING CENTER, STRIP CENTER • 15,334 SF
      6323 Colonel Glenn Rd, Little Rock, AR 72204-7757
      View Details
    • Value Estimation
      $760,000
      7,400 SF

      1508 University Ave

      SHOPPING CENTER, STRIP CENTER • 7,400 SF
      1508 University Ave, Little Rock, AR 72204-2608
      View Details

    Similar Nearby for Sale

    • $1,000,000
      4,331 SF

      Renovated Retail Building on University

      4,300+ SF building on 2.25 acres in Little Rock.
      4700 S University Ave, Little Rock, AR 72204
      View Details
    • $425,000
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      Little Rock Commercial Building/Land

      Turn-key commercial building in high-traffic Little Rock location.
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    • $299,900
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      Little Rock Building and Land

      Two parcels with building, parking, and green space.
      1601 S University Ave, Little Rock, AR 72204
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    • $1,000,000
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      Little Rock Multi-Building Commercial Property

      Versatile industrial & retail space, high visibility location.
      7523 Colonel Glenn Rd, Little Rock, AR 72204
      View Details
    • $175,000
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      Commercial Building on Corner Lot

      Commercial facility on a high-traffic corner lot, currently a tire shop.
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    Similar Nearby for Lease

    • Contact for pricing
      2,100 SF

      Renovated Retail Center Near UALR

      153,508 SF renovated retail center near University of Arkansas.
      3919 S University Ave, Little Rock, AR 72204
      View Details
    • $10 SF/Yr
      2,584 SF

      Retail Space on South University

      Retail space for lease with high visibility and traffic.
      3700 S University Ave, Little Rock, AR 72204
      View Details
    • Contact for pricing
      142,441 SF

      Crossroads Chenal Retail Opportunity

      Prime West Little Rock retail spaces available.
      0 Xrd At Chenal, Little Rock, AR 72204
      View Details
    • $12 SF/Yr

      Retail Space at University Avenue

      Retail spaces available in renovated Little Rock shopping center.
      3901 S University Ave, Little Rock, AR 72204
      View Details
    • Contact for pricing

      Retail Spaces in Town & Country

      Retail suites available in Little Rock shopping center.
      3500 s University Ave, Little Rock, AR 72204
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Little Rock, Arkansas.
      1000 South Rodney Parham Rd, Little Rock, AR 72204
      View Details
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    Little Rock, AR 72204
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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.

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