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

    406 W 26Th St North Little Rock, AR 72114

    • Office buildings
    • 4,956 SF
    • 0.63 lot acres
    For Sale
    View listing
    $279,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0259961
    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

    • Vess Carpenter & Vess / Legal Services
    • Ryan Allen Law Firm / Attorney
    • Jerry L. Shue, OD / Optometrist
    • First Arkansas Bail Bonds Inc / Bail Bonds Service
    • Rippy, Stepps & Associates / Law Firm / Elder Law Attorney

    Property Details for 406 W 26Th St

    Year built
    1967
    Lot size
    0.63 lot acres
    Property size
    4,956 SF
    Property type
    Office buildings
    APN
    33N-215-00-080-00
    APU
    33N2150008000

    Description

    This exceptional 1,969 square foot executive office building in North Little Rock, Arkansas, presents a fantastic opportunity for a single tenant. Located at 406 W. Pershing Blvd, zip code 72114, this C-1 zoned property boasts a highly functional layout, including five private offices, a spacious breakroom, two restrooms, and dedicated areas for reception, file storage, and IT equipment. The building's convenient location offers easy access to the U.S. Post Office, the North Little Rock Court, and the Patrick Henry Hays Senior Center. Ample parking is available for employees and clients. The entire 1,969 square feet is currently vacant and ready for immediate occupancy. This single-tenant property is ideal for a business seeking a well-appointed and conveniently located office space in a thriving Arkansas community. The property is classified as an Executive Office and Professional space. This is a rare opportunity to secure a fully functional and well-situated office building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $189,000
      Market price range: $187k - $396k
      AI Estimate
      $303,000
      Market price range: $148k - $673k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $245,000
      Current use
      COMMERCIAL (GENERAL)
      $445,000
      Change: +82% Conversion: Easy
      AUTO REPAIR, GARAGE
      $435,000
      Change: +78% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $390,000
      Change: +60% Conversion: Difficult
      WAREHOUSE, STORAGE
      $205,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    N Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.2727
    Latitude
    34.779
    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
    $3,450
    $27,561
    $24,079
    $51,640
    -
    $137,805
    $120,395
    $258,200

    Comparable in this City

    • Value Estimation
      $245,000
      336 SF

      1422 Broadway St

      OFFICE BUILDING • 336 SF
      1422 Broadway St, N Little Rock, AR 72114-5933
      View Details
    • Value Estimation
      $240,000
      480 SF

      219 12th St

      OFFICE BUILDING • 480 SF
      219 12th St, N Little Rock, AR 72114-4207
      View Details
    • Value Estimation
      $210,000
      1,064 SF

      1819 Main St

      OFFICE BUILDING • 1,064 SF
      1819 Main St, N Little Rock, AR 72114-2829
      View Details
    • Value Estimation
      $360,000
      15,120 SF

      300 Main St

      OFFICE BUILDING • 15,120 SF
      300 Main St, N Little Rock, AR 72114-5326
      View Details
    • Value Estimation by Request
      960 SF

      801 Palm St

      OFFICE BUILDING • 960 SF
      801 Palm St, N Little Rock, AR 72114-5133
      View Details
    • Value Estimation
      $325,000
      9,602 SF

      1120 Sycamore St

      OFFICE BUILDING • 9,602 SF
      1120 Sycamore St, N Little Rock, AR 72114-4143
      View Details

    Similar Nearby for Sale

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      6,930 SF building suitable for offices, retail, or restaurant.
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    • $279,000
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      North Little Rock Office Building

      Office building with two units, suitable for medical or office use.
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    Similar Nearby for Lease

    • $6,500 /Mo
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      429 Main St: Creative Office Space

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    • $12 SF/Yr
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      Prime Executive Office Space NLR

      1,969 SF Office, Ample Parking, Great Location
      406 Pershing Blvd, North Little Rock, AR 72114
      View Details
    • $4,300 /Mo
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      North Little Rock Office Space

      Office space featuring an open work area and break area.
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    • $11 SF/Yr
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      Executive Suites, North Little Rock

      Prime Office Space Available, North Little Rock
      324 Pershing Blvd, North Little Rock, AR 72114
      View Details
    • $18 SF/Yr
      8,720 SF

      Argenta Arts District Office Space

      Historic building, flexible office suites, prime location.
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    North Little Rock, AR 72114
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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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