Sterling Building

Highlights:

• Property Highlights:
• Prime Location – On Capitol Avenue, steps from Main Street’s thriving retail and dining corridor.
• Historic Significance – Eligible for Federal & State Historic Tax Credits; opportunity for significant tax shelter strategies (consult CPA).
• Flexible Zoning – Urban Use zoning supports a wide range of redevelopment possibilities.
• Environmentally Clean – Fully abated and ready for construction.
• Income-Producing First Floor – Fully leased retail/office space generating immediate revenue.
• Redevelopment-Ready Upper Floors – 2nd and 3rd floors gutted and primed for build-out.
• Architectural Character – Stunning wood-beam ceiling on the 3rd floor, ideal for loft-style offices, creative studios, or residential conversion.
• Parking Available – On-site and nearby options.
• With 36,900 SF of space and unparalleled redevelopment potential, the Sterling Building is especially appealing for investors and developers seeking historic tax incentives and a prime downtown address. The motivated seller has priced this property below its 2018 appraised value, creating exceptional upside for the right buyer.
• Contact us today to schedule a private tour and explore how the Sterling Building can anchor your next project in downtown Little Rock.

Description:

FOR SALE – The Sterling Building | Historic Investment Opportunity in Downtown Little Rock
229 W Capitol Ave, Little Rock, AR 72201
Asking Price: $1,600,000 (Motivated Seller – Listed Below Appraisal)
Building Size: ±36,900 SF | Zoning: Urban Use

Step into history and unlock future potential with the Sterling Building, a landmark property in the heart of Little Rock’s central business district. Once home to the iconic Sterling department store, this building is listed on the National Register of Historic Places and offers investors a rare opportunity to leverage both Federal and Arkansas State Historic Tax Credits, as well as potential exterior easement tax benefits.

General Location:
The Sterling Building is prominently located at 229 W Capitol Avenue, in the heart of downtown Little Rock, Arkansas. The site sits at the southeast corner of the intersection of W Capitol Ave and S Center Street, placing it within the Financial and Government District, just a few blocks from the Arkansas State Capitol and River Market District.

Site Features & Context
Parcel & Size:

The building sits on a rectangular urban lot, estimated around 0.26 acres.

The footprint of the building occupies most of the site, consistent with dense downtown office development.

Zoning:

Located in a central business district (CBD) zoning area.

Suitable for a wide range of uses: commercial office, retail, mixed-use, or adaptive reuse.

Accessibility:

Highly walkable area with sidewalk access on all sides.

Close proximity to public transportation (Rock Region Metro stops nearby).

Near major arterials: Broadway Street, Main Street, and I‑630 are just minutes away.

Surrounding Uses:

Neighboring properties include mid- and high-rise office buildings, boutique shops, banks, law offices, and hotels (e.g., AC Marriott).

Part of the Creative Corridor revitalization area that blends historic preservation with new development.