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    Property profile & analytics

    505 Pershing Blvd N Little Rock, AR 72114-2147

    • Medical offices
    • 14,901 SF
    • 1.60 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0320198
    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

    • William Laughlin Hawkins / Family Practice Physician
    • Pledger Norman MD / Family Practice Physician
    • Dr. Ira B. Gershner, MD / Internist
    • Hannah Baugh / Nurse Practitioner / Registered General Nurse
    • Donald Harrison / Physical Therapist

    Property Details for 505 Pershing Blvd

    Year built
    1981
    Lot size
    1.60 lot acres
    Property size
    14,901 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    33N-215-00-087-00
    APU
    33N2150008700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

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

    Location Insight

    • Map
    • Local Demand
    City
    N Little Rock
    County
    Pulaski
    State
    Arkansas
    Longitude
    -92.2728
    Latitude
    34.7798
    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
    $9,031
    $69,700
    $65,500
    $135,200
    -
    $348,500
    $327,500
    $676,000

    Comparable in this City

    • Value Estimation
      $285,000
      3,710 SF

      2001 Pershing Cir3c

      MEDICAL BUILDING • 3,710 SF
      2001 Pershing Cir3c, N Little Rock, AR 72114-1841
      View Details
    • Value Estimation
      $270,000
      3,425 SF

      2001 Pershing Cir Ste 1c

      MEDICAL BUILDING • 3,425 SF
      2001 Pershing Cir Ste 1c, N Little Rock, AR 72114-1842
      View Details
    • Value Estimation
      $215,000
      964 SF

      2001 Pershing Cir Ste 2d

      MEDICAL BUILDING • 964 SF
      2001 Pershing Cir Ste 2d, N Little Rock, AR 72114-1843
      View Details
    • Value Estimation
      $265,000
      3,345 SF

      410 Pershing Blvd

      MEDICAL BUILDING • 3,345 SF
      410 Pershing Blvd, N Little Rock, AR 72114-2146
      View Details
    • Value Estimation
      $340,000
      3,056 SF

      500 26th St

      MEDICAL BUILDING • 3,056 SF
      500 26th St, N Little Rock, AR 72114-2127
      View Details
    • Value Estimation
      $270,000
      3,552 SF

      400 Pershing Blvd

      MEDICAL BUILDING • 3,552 SF
      400 Pershing Blvd, N Little Rock, AR 72114-2146
      View Details

    Similar Nearby for Sale

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      North Little Rock Office Building

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      Historic building, prime location, high ROI potential.
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      Office and Warehouse Space Available

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      North Little Rock Building and Land

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    Similar Nearby for Lease

    • $11 SF/Yr
      13,176 SF

      Executive Suites, North Little Rock

      Prime Office Space Available, North Little Rock
      324 Pershing Blvd, North Little Rock, AR 72114
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    • $18 SF/Yr
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      Historic building, flexible office suites, prime location.
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      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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      View Details
    • $22 SF/Yr
      1,197 SF

      Office Space For Rent

      Office space available for lease in North Little Rock.
      1 Riverfront Pl, North Little Rock, AR 72114
      View Details
    • $14 SF/Yr
      9,664 SF

      429 Main St: Creative Office Space

      Historic North Little Rock Office/Retail
      429 Main St, North Little Rock, AR 72114
      View Details
    • $12 SF/Yr
      1,969 SF

      Prime Executive Office Space NLR

      1,969 SF Office, Ample Parking, Great Location
      406 Pershing Blvd, North Little Rock, AR 72114
      View Details
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    N Little Rock, AR 72114-2147
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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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