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    Turnkey Wedding Venue and Cabin Resort Title is generated by Realmo AI

    148-150 Passion Play Road, Eureka Springs, AR 72632

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    For Sale
    $1,490,000

    SINGLE_FAMILY - Eureka Springs, AR

    Type:Retail
    Property size:
    4,300 SF
    Lot size:
    14.43 Acres
    Price / SF:
    $346/SF
    Added:
    Dec 1, 2025
    Days on Market:
    187
    Last Refresh:
    Jun 6 at 2:06 pm

    Property Features for 148-150 Passion Play Road

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Rooms
    Basement
    Parking features
    Parking Lot
    Appliances
    GasWaterHeater
    Standard status
    Active
    APN
    925-02038-092
    Size
    4,300 SF
    Lot size
    14.43 Acres

    Taxes and HOA fees

    Tax Description
    Parcel #925-02038-092 Lot 12 Walden Addition, 925-02038-049, 925-0038-00
    Tax Annual Amount
    4628

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Water source
    Public

    Building Details

    Year built
    2016
    Flooring type
    Concrete
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Heather Carter

    Listing agent Heather Carter License #SA00096615

    Listing office Coldwell Banker Harris McHaney & Faucette-Rogers 809 S 52nd Street, Rogers, AR

    Listing date Dec 1, 2025

    MLS# 1329301

    Copyright © 2026 ArkansasONE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey wedding venue plus income‑producing lodging on 15+/- acres within Eureka Springs city limits
    • 4,300 SF indoor event space with capacity for 332 guests, plus commercial kitchen and full bar
    • Outdoor patio and newly completed outdoor ceremony venue for up to 100 guests
    • 2BR/2BA Aspen Cabin with established short‑term rental history
    • Utilities and infrastructure in place for an additional cabin
    • Built in 2016; metal roof, metal siding, concrete floors; central heating; public water and public sewer

    Overview

    This turnkey hospitality property combines an established wedding venue with income-producing lodging and future growth opportunities on 15+/- acres in Eureka Springs city limits. The indoor event space totals 4,300 SF and is designed for celebrations and private events with a commercial kitchen, full bar, and outdoor patio. A newly completed outdoor ceremony venue accommodates up to 100 guests, creating flexible options for ceremonies and receptions.

    The property is set in a private wooded setting and is positioned just minutes from downtown and Thorncrown Chapel. In addition to the main event components, Aspen Cabin offers a high-end 2BR/2BA luxury rental with an established short-term rental history. Utilities and infrastructure are already in place for an additional cabin, supporting incremental expansion without starting from scratch.

    Ideal for an owner-operator or investor seeking a hospitality asset with both event and lodging revenue streams, the venue setup supports weddings, receptions, retreats, and private events. Ownership is also open to parceling the property and selling components separately, which may appeal to buyers looking to separate the event operation from the lodging and future cabin development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eureka Springs
    County
    Carroll
    State
    Arkansas
    Longitude
    -93.711487
    Latitude
    36.396158

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    FAQs

    What type of property is this?
    Wedding venue - Established event space with a luxury short-term rental provides immediate hospitality income and expansion options.
    Where is this wedding venue located?
    The property is located at 148-150 Passion Play Road Eureka Springs, AR.
    What is the asking price?
    The asking price for this property is $1,490,000.
    What are key features of this property?
    This property features: Turnkey wedding venue plus income‑producing lodging on 15+/- acres within Eureka Springs city limits; 4,300 SF indoor event space with capacity for 332 guests, plus commercial kitchen and full bar; Outdoor patio and newly completed outdoor ceremony venue for up to 100 guests
    (479) 459-3176
    We can help!
    Listing Contact
    Heather Carter
    Real Estate License ID: SA00096615
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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