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Value-Add Medical Office near Major Hospital 11215 Hermitage Rd 29,126 SF 37% Leased Office Building Online Auction Sale Little Rock, AR 72211
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Value-add multi-tenant medical office that is 37% occupied by a diverse tenant mix, with substantial upside for owner/users or investors.
- Located at a signalized intersection just off the interchange of I-430 and I-630, with direct visibility to over 43,000 daily vehicles.
- Within a performing office submarket, with 6.9% vacancies, 1.9% YOY rent growth, and asking rents approximately 9% above the greater market average.
- Includes 10 suites, all enjoying private ground-level entry points, with over 9,000 SF on the second floor available for immediate occupancy.
- Convenient proximity to the Baptist Health Medical Center Little Rock, with 827 beds, offering strong referral and partnership potential.
- Draw from a strong regional workforce and client base, with over 131k residents within 5 miles with an average household income of over $90k.
EXECUTIVE SUMMARY
Secure a value-add medical office in Little Rock, Arkansas, at 11215 Hermitage Road, the Park West Building. Delivered 37% occupied by a mix of health care, finance, and tax services businesses, this turnkey facility offers significant upside for owner occupancy or stabilization.
The Park West Building provides a total of 29,126 square feet across two floor that was originally constructed in 1981. The property includes 10 unique suites that all benefit from private, ground-level access points. Approximately 9,100 square feet are currently vacant on the 2nd floor, providing an immediate occupancy option for growing businesses, along with existing rental revenue to help offset costs. The building is situated on a landscaped 1.99-acre lot, with ample on-site parking for 96 vehicles.
Situated on a signalized corner intersection just off the Interstate 430 and 630 interchange, the Park West Building delivers exceptional placement within a high-traffic commercial hub, with visibility to more than 43,000 daily vehicles. Medical businesses in the area are attracted by convenient proximity to the Baptist Health Medical Center Little Rock, the epicenter of the regional medical network with 827 licensed beds. This vital healthcare institution ensures strong synergy as well as lucrative potential partnerships for businesses at the subject property. Further enhancing tenant appeal, the area is home to a high concentration of nearby national retail brands, including Walmart Supercenter, Lowe’s, Trader Joe’s, Best Buy, AutoZone, McAllister’s Deli, Sonic Drive-in, Taco Bell, and many more.
In addition to owner-users, the Park West Building offers robust potential for value-add investors seeking to stabilize the property. The property sits within a performing office submarket which boasts current vacancies of just 6.9%, along with rent growth of 1.9% over the past 12 months. The appeal of the area is partially fueled by a valuable demographic segment within 5 miles of the subject property, with more than 131,000 residents and average household incomes exceeding $90,000. Currently, office rents in the submarket sit more than 9% above the greater market average, allowing investors to enjoy stable demand with outsized returns.
Claim a prime spot at the heart of Little Rock’s healthcare industry with this perfectly positioned medical office offering in-place tenancy and strong growth potential at 11215 Hermitage Road, the Park West Building.
Property tours are by appointment only. Please contact the listing broker to schedule.
The Park West Building provides a total of 29,126 square feet across two floor that was originally constructed in 1981. The property includes 10 unique suites that all benefit from private, ground-level access points. Approximately 9,100 square feet are currently vacant on the 2nd floor, providing an immediate occupancy option for growing businesses, along with existing rental revenue to help offset costs. The building is situated on a landscaped 1.99-acre lot, with ample on-site parking for 96 vehicles.
Situated on a signalized corner intersection just off the Interstate 430 and 630 interchange, the Park West Building delivers exceptional placement within a high-traffic commercial hub, with visibility to more than 43,000 daily vehicles. Medical businesses in the area are attracted by convenient proximity to the Baptist Health Medical Center Little Rock, the epicenter of the regional medical network with 827 licensed beds. This vital healthcare institution ensures strong synergy as well as lucrative potential partnerships for businesses at the subject property. Further enhancing tenant appeal, the area is home to a high concentration of nearby national retail brands, including Walmart Supercenter, Lowe’s, Trader Joe’s, Best Buy, AutoZone, McAllister’s Deli, Sonic Drive-in, Taco Bell, and many more.
In addition to owner-users, the Park West Building offers robust potential for value-add investors seeking to stabilize the property. The property sits within a performing office submarket which boasts current vacancies of just 6.9%, along with rent growth of 1.9% over the past 12 months. The appeal of the area is partially fueled by a valuable demographic segment within 5 miles of the subject property, with more than 131,000 residents and average household incomes exceeding $90,000. Currently, office rents in the submarket sit more than 9% above the greater market average, allowing investors to enjoy stable demand with outsized returns.
Claim a prime spot at the heart of Little Rock’s healthcare industry with this perfectly positioned medical office offering in-place tenancy and strong growth potential at 11215 Hermitage Road, the Park West Building.
Property tours are by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
Suite 201
/4
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Subtype
Medical
Building Size
29,126 SF
Building Class
B
Year Built
1981
Percent Leased
37%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,563 SF
Slab To Slab
10’
Building FAR
0.34
Lot Size
1.99 AC
Parcel Number
44L-069-02-013-00
Parking
96 Spaces (5.5 Spaces per 1,000 SF Leased)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
5,390
67,399
131,945
2020 Population
5,880
69,957
133,438
2029 Population
5,305
67,026
131,898
2024-2029 Projected Population Growth
-1.6%
-0.6%
0.0%
Daytime Employees
20,642
53,514
129,356
Total Businesses
2,570
6,685
12,519
Average Household Income
$71,504
$87,155
$90,485
Median Household Income
$55,320
$58,175
$59,607
Total Consumer Spending
$66M
$859.7M
$1.7B
Median Age
35.5
38.1
38.2
2024 Households
2,645
30,493
58,365
Percent College Degree or Above
26%
26%
25%
Average Home Value
$179,362
$254,497
$293,288
SALE ADVISOR
SALE ADVISOR
Stuart Mackey, Principal/Executive Vice President
This real estate pro has worn a lot of hats (and ties). Stuart’s career path includes stops in professional theatre, hospital administration, ice cream, coaching (soccer) and banking before finding his home here. So he understands small business and big business. Day-to-day financials. Marketing. Leadership.
Stuart is known for his encyclopedic knowledge of the status and history of properties in our market. A rapid-fire dealmaker with a phone always in his ear, it’s no wonder he uses a stand-up desk. And he stands up for his clients every day.
Stuart’s personal life is as fast-moving as his professional life. He enjoys walking the dogs, going to live theatre, relearning to sail, expanding his smoked meats repertoire, supporting local charities, and traveling.
Stuart is known for his encyclopedic knowledge of the status and history of properties in our market. A rapid-fire dealmaker with a phone always in his ear, it’s no wonder he uses a stand-up desk. And he stands up for his clients every day.
Stuart’s personal life is as fast-moving as his professional life. He enjoys walking the dogs, going to live theatre, relearning to sail, expanding his smoked meats repertoire, supporting local charities, and traveling.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
John Artozqui
Contact
Auctioneer License:
Ten-X Samantha Corbat RE RE Brkr PB00094557 Samantha Corbat Auctioneer IREC03020
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Value-Add Medical Office near Major Hospital | 11215 Hermitage Rd
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Value-Add Medical Office near Major Hospital | 11215 Hermitage Rd
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