Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakefront Lot in Hot Springs Title is generated by Realmo AI

    15 Delavaga Circle, Hot Springs Village, AR 71909

    View on Map
    Claim this Listing
    For Sale
    $75,000

    Residential Lot - Hot Springs Village, AR

    Lot size:
    0.64 Acres
    Added:
    Jan 1, 2026
    Days on Market:
    129
    Last Refresh:
    May 10 at 1:06 pm

    Property Features for 15 Delavaga Circle

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    502-00002-000
    Lot size
    0.64 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    267
    Expense value
    51.580001831055
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Ski Lake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michael Holdiness

    Listing agent Michael Holdiness

    Listing office RE/MAX of Hot Springs Village 1400 Desoto Blvd, Hot Springs Village, AR

    Listing date Jan 1, 2026

    MLS# 26000058 Listing URL

    Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront lot on Lake Cortez with direct lake access.
    • Located in Hot Springs Village, the largest gated community in North America.
    • Enjoy access to 11 recreational lakes for boating and fishing.
    • Extensive recreational amenities including nine championship golf courses.
    • Over 30 miles of walking trails within the community.
    • Part of a vibrant community with over 200 clubs and organizations.

    Overview

    This 0.64-acre waterfront lot is located on Lake Cortez in Hot Springs Village, Arkansas. Hot Springs Village is a gated community spanning 26,000 acres in the Ouachita Mountains. The community includes eleven recreational lakes, nine championship golf courses, thirteen tennis courts, fourteen pickleball courts, and thirty miles of walking trails. Over 200 clubs and organizations provide numerous activities for all ages.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Bed & Breakfast Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs Village
    County
    Garland
    State
    Arkansas
    Longitude
    -92.96671
    Latitude
    34.6797

    Nearby Similar for Sale

    • $419,000
      7,200 SF

      Hot Springs Village Retail Building

      Retail property with a large open floor plan.
      4439 N Highway 7, Hot Springs Village, AR 71909
      View Details
    • $450,000
      5,000 SF

      Hot Springs Village Former Daycare

      5000 sq ft building on 1.5 acres.
      203 Carmona Road, Hot Springs Village, AR 71909
      View Details
    • $125,000
      77,101 SF

      Prime Commercial Land in Hot Springs

      1.77-acre commercial parcel in a thriving, gated community.
      00 DeSoto Boulevard, Hot Springs Village, AR 71909
      View Details
    • $75,000
      352,836 SF

      Commercial Parcel in Hot Springs

      Prime commercial land in a thriving, gated community.
      00 DeSoto Boulevard, Hot Springs Village, AR 71909
      View Details
    • $4,000

      Residential Lot Near Lake Balboa

      Level, wooded lot near amenities in Hot Springs Village, AR.
      9 Halago Place, Hot Springs Village, AR 71909
      View Details
    • $179,000
      93,720 SF

      Highway 7 Commercial Land

      Cleared, leveled 2-acre commercial land with highway frontage.
      100 Walnut Valley Rd, Hot Springs Village, AR 71909
      View Details
    • $6,500

      Hot Springs Village Subdivision Lot

      Wooded lot in a gated community with many amenities.
      00 Cresta Lane, Hot Springs Village, AR 71909
      View Details
    • $6,500

      Hot Springs Village Subdivision Lot

      Wooded lot in a gated community with many amenities.
      00 Halago Place, Hot Springs Village, AR 71909
      View Details
    • $15,000

      Diamante Golf Community Building Site

      Flat homesite in Hot Springs Village's desirable Diamante Golf Community.
      6 Alhaja Way, Hot Springs Village, AR 71909
      View Details
    • $6,500

      Residential Lot in Gated Community

      Residential lot in Hot Springs Village, near golf and lakes.
      37 Dominar Way, Hot Springs Village, AR 71909
      View Details
    • $3,500

      One-Acre Vacant Residential Lot

      One-acre vacant lot suited for a custom mountain-top retreat.
      87 Jarandilla Drive, Hot Springs Village, AR 71909-9343
      View Details
    • $12,000

      Hot Springs Village Wooded Lot

      Wooded lot in gated community with access to amenities.
      00 Cetrero Way, Hot Springs Village, AR 71909
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot on Lake Cortez in Hot Springs Village.
    Where is this residential land & home lot located?
    The property is located at 15 Delavaga Circle Hot Springs Village, AR.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Waterfront lot on Lake Cortez with direct lake access.; Located in Hot Springs Village, the largest gated community in North America.; Enjoy access to 11 recreational lakes for boating and fishing.
    (501) 651-5600
    We can help!
    Listing Contact
    Michael Holdiness
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15 Delavaga Circle, Hot Springs Village, AR 71909
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!