Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2798 N Highway 23 Eureka Springs, AR 72631

    View on Map
    For Sale
    $950,000

    Other - Eureka Springs, AR

    Property size:
    3,864 SF
    Lot size:
    11.50 Acres
    Added:
    Nov 10, 2025
    Days on Market:
    142
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 2798 N Highway 23

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Security features
    Security System
    Interior features
    Security System
    Standard status
    Active
    APN
    001-08501-000
    Size
    3,864 SF
    Lot size
    11.50 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Propane (Heating)
    Cooling system
    Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1985
    Flooring type
    Concrete, Wood
    Architectural style
    Other

    We can help!

    Listing Contact
    Evelyn Cross
    Evelyn Cross

    Listing agent Evelyn Cross

    Listing office New Horizon Realty, Inc. 163 W Van Buren, AR

    Listing date Nov 10, 2025

    MLS# 1327889 Listing URL

    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.

    Overview

    Eureka Springs Creek-Side Property

    This 11.5-acre property is located along Leatherwood Creek, just 3 miles north of Eureka Springs on Hwy 23 N. It features a garden center, coffee shop, and walking/biking trails. The property includes greenhouses, a showroom, and a coffee shop. A full equipment fleet is also included, featuring tractors, a skid steer, and a dump truck. The property offers a turnkey Ozark business opportunity with room to expand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nursery and garden centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Eureka Springs
    County
    Carroll
    State
    Arkansas
    Longitude
    -93.736576
    Latitude
    36.424197

    Nearby Similar for Sale

    • $759,000
      5,267 SF

      Turn-Key Tourist Lodging Opportunity

      Tourist lodging with commercial zoning near downtown Eureka Springs.
      3185 E Van Buren, Eureka Springs, AR 72632
      View Details
    • $679,000
      4,708 SF

      Downtown Eureka Springs Commercial Building

      Remodeled 4,700 sq ft commercial building in downtown Eureka Springs.
      179 Main ST, Eureka Springs, AR 72632
      View Details
    • $650,000
      6,442 SF

      Eureka Springs Family Fun Park

      Turn-key family fun park on almost 9 acres.
      3173 Van Buren, Eureka Springs, AR 72632
      View Details
    • $375,000
      2,210 SF

      Eureka Springs Restaurant/Retail Opportunity

      Restaurant/retail property with outdoor terraces and high traffic location.
      426 Van Buren, Eureka Springs, AR 72632
      View Details
    • $324,000
      1,300 SF

      Charming Bed and Breakfast Opportunity

      Successful AirBNB rental with historic schoolhouse ready for restoration.
      805 County Road 309, Eureka Springs, AR 72632
      View Details
    • $750,000
      3,456 SF

      Historic Eureka Springs Bed & Breakfast

      Furnished short-term rental suites in historic limestone building.
      75 Hillside AVE, Eureka Springs, AR 72632
      View Details
    • $485,000
      1,836 SF

      Eureka Springs Bed and Breakfast

      Nightly rental with ensuite bathrooms and parking near Harley Davidson.
      1 Drennon DR, Eureka Springs, AR 72632
      View Details
    • $1,099,000
      6,438 SF

      Historic Eureka Springs Bed & Breakfast

      Award-winning bed and breakfast with immediate income potential.
      5 & 15 Ojo, Eureka Springs, AR 72632
      View Details
    • $750,000
      10,575 SF

      Historic Eureka Springs Warehouse Opportunity

      Unique 10,575 sq ft warehouse on 0.87 acres.
      75 Center ST, Eureka Springs, AR 72632
      View Details
    • $1.95
      3,337 SF

      Renovated Restaurant Space in Eureka Springs

      Turnkey restaurant space in historic downtown Eureka Springs. Renovated in 2024.
      35 N Main ST, Eureka Springs, AR 72632
      View Details
    • $439,500
      3,552 SF

      Versatile Live/Work Eureka Springs Opportunity

      Live, work, and create near Eureka Springs, Arkansas.
      7003 Highway 62 West, Eureka Springs, AR 72632
      View Details
    • $549,000
      1,596 SF

      Historic Eureka Springs Retail Condo

      1595 SF retail condo in historic Eureka Springs, Arkansas.
      84 Spring ST, Eureka Springs, AR 72632
      View Details

    FAQs

    What type of property is this?
    Nursery and garden center - 11.5-acre property with garden center, coffee shop, and trails.
    Where is this nursery and garden center located?
    The property is located at 2798 N Highway 23 Eureka Springs, AR.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Turnkey Ozark business opportunity (garden center, coffee shop); 11.5‑acre creek‑side property on Leatherwood Creek; Includes greenhouses, showroom, and coffee shop
    (479) 253-0999
    We can help!
    Listing Contact
    Evelyn Cross
    Evelyn Cross
    Real Estate License ID: PB00012017
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!