Sign Up Successful!
You now have access to more from Realmo!
    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

    3 Otera Ln Hot Springs Village, AR 71909

    Sponsored
    For Sale
    Contact for pricing

    Residential Lot - Hot Springs Village, AR

    Lot size:
    0.38 Acres
    Days on Market:
    491
    Last Refresh:
    Feb 6 at 9:06 pm

    Property Features for 3 Otera Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.38 Acres

    Taxes and HOA fees

    Expense value
    48
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kay Bancroft
    Kay Bancroft

    Trademark Real Estate Inc. (501) 318-3200

    Listing agent Kay Bancroft (501) 318-3200

    Listing date Oct 4, 2024

    MLS# 24036630 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

    Property Insight Report

    Overview

    Residential Lot Near Granada Club

    This residential lot offers convenient access to the Granada Club house and golf course via a short golf cart ride from Maderas to Terreno. The property is an affordable home lot with minimal slope, situated in a private cul-de-sac. Its location provides easy access to the golf course without the premium of golf frontage prices. The lot is surrounded by numerous attractive homes in the newer east end of Hot Springs Village, near what is considered the premier Village course. The property offers 0.38 acres. New buyers in Hot Springs Village are subject to a $250 buy-in fee payable to the Property Owners' Association (POA) at closing. The property is located at 3 Otera Lane, Hot Springs Village, AR 71909-7989.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Auto Repair Shop Computer & Electronic Repair Electrical Service Storage Facility

    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
    -92.872354
    Latitude
    34.65211

    Nearby Similar for Sale

    • $250,000
      3,000 SF

      Established Restaurant and Sports Bar

      Full-service restaurant and sports bar with loyal clientele.
      4501 N Highway 7, Hot Springs Village, AR 71909
      View Details
    • $419,000
      7,200 SF

      Hot Springs Village Retail Building

      Retail property with a large open floor plan.
      4439 Highway 7 N, 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 Rd, Hot Springs Village, AR 71909
      View Details
    • $188,000
      1,632 SF

      Renovated Townhome Near Hot Springs Village

      Newly renovated 3-bedroom townhome near Hot Springs Village amenities.
      23 Destino Way, Hot Springs Village, AR 71909
      View Details
    • $250,000

      Established Self-Storage Facility For Sale

      46-unit self-storage facility with highway frontage and growth potential.
      3369 Highway 7 N, Hot Springs Village, AR 71909
      View Details
    • $664,000
      2,886 SF

      Diamante Golf Course New Construction

      New single-family home on Diamante Golf Course, estimated completion 2025.
      4 Loyola Ln, Hot Springs Village, AR 71909
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot with easy golf cart access to Granada Club.
    Where is this residential land & home lot located?
    The property is located at 3 Otera Ln Hot Springs Village, AR.
    What is the asking price?
    The asking price for this property is $9,000.
    What are key features of this property?
    This property features: - Quick and easy golf cart access to the Granada Club house & golf course.; - Affordable home lot with very little slope.; - Located in a private culdesac.
    (501) 545-9776
    Request Owner's contact information
    3 Otera Ln Hot Springs Village, AR 71909
    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.
    3 Otera Ln
    Hot Springs Village, AR 71909
    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
    3 Otera Ln Hot Springs Village, AR 71909
    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

    We can help!
    Listing Contact
    Kay Bancroft
    Kay Bancroft
    (501) 545-9776
    Learn more
    Google sign-in failed. Please try again or use another login method.