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    2642 N Hwy 71 Hwy Mena, AR 71953

    Sponsored
    For Sale
    $2,250,000

    Business, Bldg and Land - Mena, AR

    Property size:
    19,915 SF
    Lot size:
    8.28 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 16 at 3:06 pm

    Property Features for 2642 N Hwy 71 Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Parking
    15
    Interior features
    Insulated Windows, Insulated Doors, 220 Volt Power, Public Restrooms, Equipment (see Remarks), Inventory (see Remarks), Ceiling Fans, Stairs
    Exterior features
    Storage Building, Outside Storage Area, Dumpster, Pole Sign, Overhead Doors, Wheelchair Accessible
    Accessibility
    Accessible Approach with Ramp
    Size
    19,915 SF
    Lot size
    8.28 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2005
    Floors in Building
    2
    Flooring type
    Concrete, Tile
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Haskell Morris

    Doris Morris Real Estate (903) 748-4613

    Listing agent Haskell Morris (903) 748-4613

    Listing date Feb 13, 2026

    MLS# 26005638 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.

    Learn more

    Overview

    Established Business on Highway Frontage

    This income-producing business has been a fixture in Polk County for over 20 years. The property features a well-maintained building situated on a high-traffic location with frontage on a major US highway. Gilchrist Tractor Inc, the current business, specializes in the repair of farm, construction, forestry, and lawn equipment. It includes an in-house parts department and assists in the sale of new and used equipment. The property encompasses 8.28 acres of land. The building size is 19915 square feet. The property is located in Mena, Arkansas. Owner financing is available to qualified buyers. There are purchasing options for the business, buildings, equipment and land; buildings and land; or a smaller acreage with buildings.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Similar Places Nearby

    Spoons Towing & Recovery Inc.

    Map

    City
    Mena
    County
    Polk
    State
    Arkansas
    Longitude
    -94.204160117722
    Latitude
    34.595650875476

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    FAQs

    What type of property is this?
    Auto shop - Well-established business with highway frontage and owner financing.
    Where is this auto shop located?
    The property is located at 2642 N Hwy 71 Hwy Mena, AR.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - Established, income-producing business with 20+ year history in Polk County.; - Owner financing available to qualified buyers.; - High traffic location with major US highway frontage.
    (903) 748-4613
    Request Owner's contact information
    2642 N Hwy 71 Hwy Mena, AR 71953
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    Mena, AR 71953
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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.

    More about this property
    2642 N Hwy 71 Hwy Mena, AR 71953
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    We can help!
    Listing Contact
    Haskell Morris
    (903) 748-4613
    Learn more
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