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    991 Martin Luther King Wynne, AR 72396

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    Claim this Listing
    For Sale
    $400,000

    Traditional, Building and Land - Wynne, AR

    Property size:
    494,406 SF
    Lot size:
    12.00 Acres
    Price / SF:
    $0.81/SF
    Added:
    Jun 10, 2025
    Days on Market:
    333
    Last Refresh:
    May 8 at 12:06 pm

    Property Features for 991 Martin Luther King

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    300
    Parking features
    Paved or Surfaced
    Interior features
    Attic Vent-electric, Furniture Included
    Exterior features
    Partially Fenced, Storage Building, Outside Storage Area, Dumpster, Wheelchair Accessible
    Fencing
    Fenced, Partial
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    494,406 SF
    Lot size
    12.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Utilities
    Electricity Available
    Heating system
    Central, Natural Gas
    Cooling system
    Attic Fan, Central Air, Electric

    Building Details

    Year built
    1945
    Floors in Building
    1
    Flooring type
    Carpet, Carpet - Partial, Concrete, Tile
    Building materials
    Brick, Vinyl Siding
    Roof type
    Asphalt, Composition, Shingle, Tar/Gravel
    Architectural style
    New Traditional
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Samuel Smith

    Listing agent Samuel Smith

    Listing office Hawks Realty 1023 Main Street, Suite 202, Conway, AR

    Listing date Jun 10, 2025

    MLS# 25022768 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

    • High‑traffic, high‑visibility location on 12 level acres.
    • Former Jr. High school converted to Church facility.
    • Ideal for community center, church, convenience store, subdivision, or athletic fields.
    • Wheelchair accessible with accessible ramp.
    • Brick and vinyl siding construction.
    • Includes storage building and outside storage area.

    Overview

    Wynne, AR Building and Land

    This property features a former Jr. High school that has been converted into a church facility. The property is situated in a high-traffic area with good visibility. It includes 12 acres of level land, which may be suitable for a community center, church, convenience store, subdivision, or community athletic fields.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apostolic Faith Temple ... Church

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wynne
    County
    Cross
    State
    Arkansas
    Longitude
    -90.794558
    Latitude
    35.233375

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    FAQs

    What type of property is this?
    Church & religious facility - Former school converted to church on 12 acres.
    Where is this church & religious facility located?
    The property is located at 991 Martin Luther King Wynne, AR.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: High‑traffic, high‑visibility location on 12 level acres.; Former Jr. High school converted to Church facility.; Ideal for community center, church, convenience store, subdivision, or athletic fields.
    (501) 612-2165
    We can help!
    Listing Contact
    Samuel Smith
    Learn More
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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
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