Restaurant and Event Venue
20674 Highway 59 Evansville, AR 72729
For Sale
$299,900
LAND - Evansville, AR
Property Size4,580 SF
Lot Size1.60 Acres
Price / SF$65.48
Days on Market47
Property Features for 20674 Highway 59
General Information
- Property type
- Land
- Property subtype
- Other
- Standard status
- Active
- APN
- 001-02126-000
- Lot size
- 1.60 Acres
Taxes and HOA fees
- Tax Description
- PT SW NW 1.60AC
- Tax Annual Amount
- 2002
Listing Agency:
Keller Williams Market Pro Realty
(479) 718-2800
Listed By:
Matt Ford · License #SA00066218
(918) 575-1415
Added: Jun 8
Changed: Jun 9
Last Checked: Jul 24 at 9:06AM
MLS# 1351229
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.
Investment Insights
Based on property information with market context.
This for-sale commercial property is a restaurant and event venue building that is currently not operating but remains fully equipped for its next use. The site includes a commercial kitchen described as fully stocked, along with tables and chairs. The building is approximately 4,580 square feet (per CH) and has been used as an event center, offering a configuration that supports group service and hosted events.
Located at 20674 Highway 59 in Evansville, Arkansas (Washington County), the property sits on a 1.6-acre lot. Its highway address provides straightforward access for customers and event attendees traveling through the area.
For buyers seeking a turnkey food-service or event-focused facility, this property offers the core operational components already in place, including the fully equipped commercial kitchen and event furniture. It has been used for events in the past and may fit tenants or owners looking to reopen as a restaurant, continue event operations, or repurpose the space to a different concept, subject to applicable approvals.
Located at 20674 Highway 59 in Evansville, Arkansas (Washington County), the property sits on a 1.6-acre lot. Its highway address provides straightforward access for customers and event attendees traveling through the area.
For buyers seeking a turnkey food-service or event-focused facility, this property offers the core operational components already in place, including the fully equipped commercial kitchen and event furniture. It has been used for events in the past and may fit tenants or owners looking to reopen as a restaurant, continue event operations, or repurpose the space to a different concept, subject to applicable approvals.
Key Highlights
- 4,580 sq ft commercial building (per CH), formerly K'T's restaurant
- Currently used as an event center
- Fully equipped with a commercial kitchen plus tables and chairs
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.2k | $9.00 |
| − Vacancy | −$3.0k | −$0.65 |
| EGI | $38.3k | $8.35 |
| − OpEx | −$11.5k | −$2.51 |
| NOI | $26.8k | $5.85 |
4,580 SF · lease $9.00/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$825.0K
$721.9K – $962.5K
NOI $57,749 @ 7.0% cap · market cap 19.26%
Second Best
Industrial
$382.5K
$334.7K – $446.3K
NOI $26,777 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,054 @ 7.0% cap · market cap 28.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant/event property with an on-site commercial kitchen, set up for dining or gatherings on 1.6 acres.
Where is this conventional restaurant located?
The property is located at 20674 Highway 59 Evansville, AR.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 4,580 sq ft commercial building (per CH), formerly K'T's restaurant; Currently used as an event center; Fully equipped with a commercial kitchen plus tables and chairs
