400 Hardin RdLittle Rock, AR 72211

Property Details for 400 Hardin Rd

Year built

1995

Lot size

4.88 AC

Property size (Sq ft)

49,117 SF

Property type

Office properties

Property subtype

Office buildings

APN

44L-069-05-002-00

APU

44L0690500200

Description

Exceptional investment opportunity: a 48,090-square-foot, single-story office building in Little Rock, Arkansas. This Class B property, built in 1995, boasts a 100% occupancy rate with five professional tenants, including Southern Bancorp Bank, Blue Learning, Team CPR, Pinnacle Pointe Hospital, and Schindler Elevator (a subsidiary of the publicly traded Schindler Group). The building is situated on a 4.88-acre lot in the heart of West Little Rock's business district, conveniently located off Financial Center Parkway on Hardin Road, near the I-630/I-430 Big Rock Interchange. The property benefits from a lighted intersection and proximity to hotels, restaurants, banking, and shopping. With seven units and a current NOI of $581,521, the asking price is $7,200,000, representing a price per square foot of $149.72 and a price per unit of $1,028,571.43. The property features below-market rents and no lease expirations until January 1, 2025, offering significant upside potential. The property is zoned O-3 and offers rent bumps. This is a rare opportunity to acquire a well-located, high-occupancy office building at a price significantly below replacement cost. The strong historical occupancy and stable tenant base make this an attractive investment with a projected 8.08% cap rate.

• CAP approach

  CAP return

  Valuation

  6%

  $7,807,226

  6.5%

  $7,206,670

  7%

  $6,691,908

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,513,339

  Geo Method

  $3,513,339

• Alternative Use

  Use

  Valuation

  Residential

  $8,936,271

  Hospitality

  $8,185,576

  Educational

  $6,810,304

  Medical

  $7,044,520

  Retail

  $10,593,806

Location Insight

City

Little Rock

County

Pulaski

State

Arkansas

Latitude

34.7496

Longitude

-92.399

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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