2020 3Rd St Little Rock, AR 72205

This six-story, 31,800 square foot Class B office building, located at 2020 W 3rd St, Little Rock, AR 72205, presents a compelling value-add investment opportunity. Built in 1971 and renovated in 2022, the property features 40 units ranging from 200 to 4000 square feet, currently boasting 63.4% occupancy as of December 5, 2023. The building sits on a 35,719 square foot lot and is zoned C-3. The asking price is $2,400,000, representing a price per square foot of $75.47 and a price per unit of $60,000. The current Net Operating Income (NOI) is $80,603, with a projected pro-forma NOI of $327,939 and a pro-forma cap rate of 13.66%. Key features include two elevators, ample parking, recently renovated common areas (including a mail room and break room), and convenient access to major highways and public transportation. The property offers flexible floor plans to accommodate diverse business needs and is situated near local amenities. Approximately 46% of units are primed for cosmetic renovations to increase value and appeal to a wider range of tenants. The building's strong potential for increased NOI makes it an attractive investment for those seeking to capitalize on Little Rock's thriving business environment. Further details are available upon request.