Historic Event Venue
For Sale
$599,000
104 & 105 N 13th ST, Van Buren, AR 72956
Commercial, Van Buren, AR
Property Size5,774 SF
Lot Size1.36 Acres
Price / SF$103.74
Days on Market16
Property Features for 104 & 105 N 13th ST
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Directions
From Main St. Van Buren, go north on N. 13th St., Property 1 block north on right.
Standard status
Active
APN
700-03835-001
Size
5,774 SF
Lot size
1.36 Acres
Taxes and HOA fees
Tax Description
PT 8 ALL 9-12
Tax Annual Amount
2005
Legal Description
PT 8 ALL 9-12
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1920
Flooring type
Wood, Concrete
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Pendergraft Realty Group
(479) 434-3000
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 25 at 10:06PM
MLS# 1091018
Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This portfolio includes two adjacent properties totaling 5,774 square feet. The centerpiece is a two-story former church now operating as an event venue, with cathedral ceilings, an original wood balcony, hardwood floors, concrete flooring, and a kitchen. Central heating and central air serve the venue. A studio apartment on the same parcel is undergoing renovation.
The second property is an 1887 Victorian residence with a primary suite addition in progress. It includes a walkout basement, attached garage, and corner-lot setting. Together, the properties offer an operating event business alongside residential space and two short-term rental opportunities for a buyer to complete and activate.
The second property is an 1887 Victorian residence with a primary suite addition in progress. It includes a walkout basement, attached garage, and corner-lot setting. Together, the properties offer an operating event business alongside residential space and two short-term rental opportunities for a buyer to complete and activate.
Key Highlights
- 5,774‑square‑foot portfolio comprising two adjacent properties
- Operating event venue in a former church with cathedral ceilings and original wood balcony
- Venue includes hardwood and concrete flooring, kitchen, central heating, and central air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,517
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,340
$710.3K
Cap Rate 7%
$507,386
$507.4K
Cap Rate 9%
$394,633
$394.6K
Market Conditions
NOI Build-Up for 5,774 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.3K $12.00/SF
− Vacancy
−$4.7K −$0.82/SF
EGI
$64.6K $11.18/SF
− OpEx
−$29.1K −$5.03/SF
NOI
$35.5K $6.15/SF
Area
Crawford County, AR
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,340
Cap Rate 7%
$507,386
Cap Rate 9%
$394,633
Alternative Uses
Best Use
Apartment 5plus
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.7K – $1.29M
NOI $77,492 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 72956, AR
33,870
Population
14,119
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
103.8 sq mi
ZIP Area
326
Density / Sq Mi
$60,387
Median Household Income
$33,894
Median Earnings
$825
Median Rent
$177,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Wedding venue - Two adjacent properties combine an operating event venue with residential space and additional short-term rental opportunities.
Where is this wedding venue located?
The property is located at 104 & 105 N 13th ST Van Buren, AR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5,774‑square‑foot portfolio comprising two adjacent properties; Operating event venue in a former church with cathedral ceilings and original wood balcony; Venue includes hardwood and concrete flooring, kitchen, central heating, and central air
