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    173 Memorial WEST Lane Hot Springs, AR 71913

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    For Sale
    $270,000

    Agricultural/Farm/Ranch, Farmhouse - Hot Springs, AR

    Type:Farm
    Property size:
    1,204 SF
    Lot size:
    10.91 Acres
    Price / SF:
    $224/SF
    Added:
    Apr 2, 2026
    Days on Market:
    37
    Last Refresh:
    May 8 at 5:06 am

    Property Features for 173 Memorial WEST Lane

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Zoning
    R-R Rural Res District
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1, Bedroom 1, Bedroom 2, Kitchen, Laundry, Living Room
    Parking
    4
    Patio and Porch features
    Porch
    Interior features
    Washer Connection, Washer-stays, Dryer Connection-electric, Dryer Stays, Water Heater-electric
    Exterior features
    Screened Porch, Porch, Partially Fenced, Storage Building, Outside Storage Area, Livestock Allowed
    Fencing
    Fenced, Partial
    Basement Y/N
    1
    Standard status
    Active
    Size
    1,204 SF
    Lot size
    10.91 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Utilities
    Electricity Available, Water Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water front features
    Pond

    Building Details

    Year built
    1940
    Floors in Building
    1.5
    Flooring type
    Carpet, Tile
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Bert Bailey
    Bert Bailey

    Listing agent Bert Bailey License #SA00069962

    Listing office Hot Springs Realty 4832 Central Ave, Hot Springs National Park, AR

    Listing date Apr 2, 2026

    MLS# 154604 Listing URL

    Copyright © 2026 Hot Springs 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.

    HighLights

    • 10.913 Acres (more or less) with 2 Ponds
    • Lake Hamilton School District
    • New AC & Duct work (less than 5 years old)
    • Multiple Outbuildings: Storage/utility buildings, barn, well house, unfinished garage.
    • Enjoy the Screened Porch and Open Front Porch
    • Basement

    Overview

    Farmhouse on 10+ Acres

    This property features a 1,204 square foot farmhouse built in 1940, with 2 bedrooms and 1 bathroom, situated on approximately 10.913 acres. The home includes a 280 square foot basement. A new survey was completed in December 2025. The property is located within the Lake Hamilton School District. Exterior features include a metal roof, an open front porch, and a screen-enclosed side porch. There are two ponds located on the land. Additional structures include an 8x8 metal storage/utility building, a frame 20x20 and 18x10 storage/utility building, a well house, and a detached unfinished frame garage. A 32x20 barn lean-to is also present. The asphalt driveway provides access to the home. The property is zoned R-R Rural Res District. The home has a new AC unit and duct work installed less than 5 years ago. This property offers a great place to build a new home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.098481
    Latitude
    34.449715

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    FAQs

    What type of property is this?
    Farm - Farmhouse with acreage, ponds, and outbuildings in Hot Springs.
    Where is this farm located?
    The property is located at 173 Memorial WEST Lane Hot Springs, AR.
    What is the asking price?
    The asking price for this property is $270,000.
    What are key features of this property?
    This property features: 10.913 Acres (more or less) with 2 Ponds; Lake Hamilton School District; New AC & Duct work (less than 5 years old)
    (501) 620-9991
    We can help!
    Listing Contact
    Bert Bailey
    Bert Bailey
    Real Estate License ID: SA00069962
    Learn More
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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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