Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Undeveloped Land on US Hwy Title is generated by Realmo AI

    Hwy 62/412, Cherokee Village, AR 72529

    View on Map
    Claim this Listing
    For Sale
    $349,500

    Land Only - Cherokee Village, AR

    Lot size:
    1.23 Acres
    Added:
    Feb 24, 2020
    Days on Market:
    2279
    Last Refresh:
    May 22 at 7:06 am

    Property Features for Hwy 62/412

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Flooring type
    Other
    Building materials
    Other, See Remarks
    Roof type
    Other, See Remarks
    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Rhodes
    Jason Rhodes

    Listing agent Jason Rhodes

    Listing office King-Rhodes & Associates, Inc. 249 Iroquois Drive, Cherokee Village, AR

    Listing date Feb 24, 2020

    MLS# 20006831 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.

    HighLights

    • Prime commercial location at a high‑traffic intersection (US Hwy 62/412) in Sharp County.
    • Zoned Commercial (CP‑2) with utilities (water, sewer, 3‑Phase power, internet, phone) available on site.
    • High daily traffic count: 10,000+ on US Hwy 62/412 and 3,400 on AR Hwy 175.
    • Flat terrain and excellent building conditions.
    • Proximity to Highland Public Schools (400 yards).
    • Rear access to AR Hwy 175 available.

    Overview

    This 1.23-acre undeveloped land fronts US Hwy 62/412, situated at one of the highest traffic intersections in Sharp County, Arkansas, and at the center of four neighboring cities. The surrounding area within a 15-mile radius has a total population of 20,693. The location benefits from high traffic volume, with over 10,000 vehicles daily on US Hwy 62-412 and 3,400 on AR Hwy 175. Essential utilities such as water, sewer, 3-Phase power, internet, and phone are available on site. Zoned Commercial (CP-2), the property features flat terrain and excellent building conditions. It is located 400 yards from Highland Public Schools, with rear access to AR Hwy 175 available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Cherokee Village
    County
    Sharp
    State
    Arkansas
    Longitude
    -91.5669
    Latitude
    36.3017

    Nearby Similar for Sale

    • $1,250,000
      18,000 SF

      Cherokee Village Commercial/Industrial Opportunity

      18,000+ sq ft facility on 6.5 fenced acres.
      50 S Pottawattamie Drive, Cherokee Village, AR 72529
      View Details
    • $7,500

      Residential Land in Cherokee Village

      0.33 acre lot near South Fork Spring River.
      Powhatan Drive lot: 10, Cherokee Village, AR 72529
      View Details
    • $8,450

      Cherokee Village Land For Sale

      0.31 acre lot near lakes in Cherokee Village, AR.
      Merrimac Drive lot: 3, Cherokee Village, AR 72529
      View Details
    • $8,500

      Cherokee Village Land Near Lake

      Quarter-acre lot near Lake Sequoyah in Cherokee Village.
      Natchez Circle lot: 1, Cherokee Village, AR 72529
      View Details
    • $24,500

      Lakefront Lot in Cherokee Village

      Lakefront wooded lot with access to community amenities.
      W Lakeshore Drive, Cherokee Village, AR 72529
      View Details
    • $3,900

      Wooded Lots in Cherokee Village

      Beautiful wooded lots for recreation, investment, or building a home.
      Iroquois Drive, Cherokee Village, AR 72529
      View Details
    • $25,000

      Lakefront Lot in Cherokee Village

      Build-ready lot on Lake Chanute, Fulton County, Arkansas.
      88 Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $27,000

      Omaha Lake Half-Acre Lot

      Half-acre lot on Omaha Lake with unobstructed views.
      Chesapeake Drive, Cherokee Village, AR 72529
      View Details
    • $35,000

      Riverfront Lot in Cherokee Village

      Wooded riverfront lot perfect for a home or getaway.
      Powhatan Drive, Cherokee Village, AR 72529
      View Details
    • $8,000

      Cherokee Village Land For Sale

      Residential land in Cherokee Village, Arkansas, near Holiday Island Marina.
      Cherokee Lane lot: 1, Cherokee Village, AR 72631
      View Details
    • $42,500

      Lakefront Lots in Cherokee Village

      Two adjoining lakefront lots with mature trees and lake frontage.
      42 Enid Drive, Cherokee Village, AR 72529
      View Details
    • $19,000

      Cherokee Village Vacant Land

      Three-acre lot with seasonal lake views in Cherokee Village, Arkansas.
      000 Cherokee Acres Road, Cherokee Village, AR 72529
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.23 acres of commercial land with high traffic frontage.
    Where is this commercial land located?
    The property is located at Hwy 62/412 Cherokee Village, AR.
    What is the asking price?
    The asking price for this property is $349,500.
    What are key features of this property?
    This property features: Prime commercial location at a high‑traffic intersection (US Hwy 62/412) in Sharp County.; Zoned Commercial (CP‑2) with utilities (water, sewer, 3‑Phase power, internet, phone) available on site.; High daily traffic count: 10,000+ on US Hwy 62/412 and 3,400 on AR Hwy 175.
    (870) 847-5846
    We can help!
    Listing Contact
    Jason Rhodes
    Jason Rhodes
    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

    Thank You for Inquiry
    Hwy 62/412, Cherokee Village, AR 72529
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!