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

    TBD Murphy Rd Norman, AR 71960

    View on Map
    For Sale
    $199,000

    Acreage - Norman, AR

    Lot size:
    17.23 Acres
    Added:
    May 19, 2025
    Days on Market:
    318
    Last Refresh:
    Apr 1 at 7:06 pm

    Property Features for TBD Murphy Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Cross-Fenced, Barns/Buildings, Livestock Allowed
    Fencing
    Cross Fenced, Fenced
    Standard status
    Active
    Lot size
    17.23 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    109

    Building Details

    Architectural style
    Other
    Additional Structures
    Barn(s)

    We can help!

    Listing Contact
    Edwenna Rowland

    Listing agent Edwenna Rowland

    Listing office Ouachita Real Estate 504 Hwy 270 E, Mt Ida, AR

    Listing date May 19, 2025

    MLS# 25019600 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.

    Overview

    Land Near Ouachita National Forest

    This 17.23-acre property is located in Black Springs and borders the Ouachita National Forest. The land is fenced and cross-fenced, featuring a pond and views. A garden spot is present on the property. Water is supplied by a well, approximately 100 feet deep, equipped with a 1-horsepower submersible pump. The property includes three electric meters. A 40x350-foot structure with metal trusses, formerly a chicken house, is currently utilized as a chicken pen and for storage and has water access. An additional 40x80-foot building on the north side of the property serves as storage and contains a 12x8-foot insulated workshop with heating, cooling, and wiring for a welder. A deer stand is included on the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Norman
    County
    Montgomery
    State
    Arkansas
    Longitude
    -93.782841
    Latitude
    34.5013284

    Nearby Similar for Sale

    • $12,500

      Cleared Land in Norman, AR

      0.35 acre lot with utilities ready for development.
      237 Cedar Avenue, Norman, AR 71960
      View Details
    • $368,000

      Ouachita Mountain Land with Creek

      32-acre parcel with creek frontage and national forest access.
      0000 Old Dallas Road, Norman, AR 71960
      View Details
    • $162,000

      27 Acres Near Ouachita Forest

      27 acres with direct access to Ouachita National Forest.
      0000 Old Dallas Road, Norman, AR 71960
      View Details
    • $699,000

      Riverfront Acreage in Norman, Arkansas

      43+/- acres of riverfront property on the Caddo River.
      423 Village Avenue, Norman, AR 71960
      View Details
    • $339,000

      Secluded Timber Land in Arkansas

      73-acre recreational paradise bordering Ouachita National Forest.
      0000 Beech Creek Road, Norman, AR 71960
      View Details
    • $65,000

      Five Acres Near Lake Ouachita

      Five acre parcel near Lake Ouachita and Caddo River.
      RPID 6702 Liberty Road, Norman, AR 71960
      View Details
    • $75,000

      Riverfront Acreage in Norman, Arkansas

      Scenic riverfront property in Norman, Arkansas, perfect for outdoor enthusiasts.
      XX Village Avenue, Norman, AR 71960
      View Details
    • $85,000
      2,144 SF

      Storage Units and Land For Sale

      Storage units on .72 acres near Caddo River.
      204 Water Tower Street, Norman, AR 71960
      View Details
    • $64,900

      Land in Caddo Hills

      9+\- acre raw land with creek and water access.
      xxx Hwy 8, Norman, AR 71960
      View Details

    FAQs

    What type of property is this?
    Farm - 17 acres in Black Springs joining Ouachita National Forest.
    Where is this farm located?
    The property is located at TBD Murphy Rd Norman, AR.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: 17 acres joining Ouachita National Forest.; Fenced and cross‑fenced property suitable for livestock.; Well with submersible pump providing water.
    (870) 490-1678
    We can help!
    Listing Contact
    Edwenna Rowland
    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!