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

    W Heritage PKWY Prairie Grove, AR 72753

    View on Map
    For Sale
    $2,800,000

    Development Potential - Prairie Grove, AR

    Lot size:
    15.26 Acres
    Added:
    Jun 9, 2025
    Days on Market:
    302
    Last Refresh:
    Apr 6 at 9:06 pm

    Property Features for W Heritage PKWY

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    805-20362-002
    Lot size
    15.26 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Eddie Bowling

    Listing agent Eddie Bowling

    Listing office BRE Realty Group 18527 Harmon Rd, AR

    Listing date Jun 9, 2025

    MLS# 1310323 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

    Prairie Grove Commercial Development Opportunity

    This commercial land offers a development opportunity in a rapidly growing area of Prairie Grove, Arkansas. Situated along the new Highway 62 Bypass, the property benefits from approximately 585 feet of highway frontage and an estimated 11,000 cars per day traffic count along Highway 62. The 15.26-acre lot presents an opportunity to join established businesses such as McDonald's, Domino's, Casey's, Taco Bell, and Dollar General in Prairie Grove's newest commercial corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Prairie Grove
    County
    Washington
    State
    Arkansas
    Longitude
    -94.3247
    Latitude
    36.0004

    Nearby Similar for Sale

    • $385,000

      Highway Frontage Storage Units

      Commercial lot with storage units and highway visibility.
      949 E Heritage PKWY, Prairie Grove, AR 72753
      View Details
    • $700,000

      Development Opportunity in Prairie Grove

      4-acre corner parcel primed for mixed-use development.
      Viney Grove, Prairie Grove, AR 72753
      View Details
    • $740,000
      4,088 SF

      Prairie Grove Triplex Investment Opportunity

      Triplex built in 2022 on a large lot.
      10859 Danny Bryan RD, Prairie Grove, AR 72753
      View Details
    • $1,742,000

      Highway 62 Development Opportunity

      Prime commercial acreage in a high-growth Northwest Arkansas corridor.
      TBD E Heritage PKWY Unit #A, Prairie Grove, AR 72753
      View Details
    • $2,614,000

      Highway 62 Development Opportunity

      Prime commercial acreage in a high-growth Northwest Arkansas corridor.
      TBD E Heritage PKWY Unit #B, Prairie Grove, AR 72753
      View Details
    • $850,000

      Shovel-Ready Development Opportunity in Prairie Grove

      6-acre development with approvals for 38 units in Prairie Grove.
      1496 Viney Grove RD, Prairie Grove, AR 72753
      View Details
    • $850,000

      Shovel-Ready Development Opportunity in Prairie Grove

      6-acre development with approvals, utilities, and park access.
      1496 Viney Grove RD, Prairie Grove, AR 72753
      View Details
    • $472,500
      2,392 SF

      Four-Unit Investment Property Package

      Two duplexes near schools offering strong rental income potential.
      302 / 304 Wallace ST, Prairie Grove, AR 72753
      View Details
    • $1,000,000

      Prairie Grove Land with Development Potential

      10 acres of level land ideal for development or estate.
      10591 Viney Grove RD, Prairie Grove, AR 72753
      View Details
    • $135,000

      Highway Frontage Mixed-Use Lot

      6.68-acre mixed-use lot with highway frontage in Prairie Grove.
      16543 Highway 62, Prairie Grove, AR 72753
      View Details
    • $275,000

      Arkansas Land with Mature Trees

      3.16 acres of land with utilities in Prairie Grove.
      15065 Bethel Blacktop RD, Prairie Grove, AR 72753
      View Details
    • $374,000

      Land for Dream Home Construction

      Land for dream home construction near Prairie Grove with utilities.
      Pine Tree, Prairie Grove, AR 72758
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with highway frontage in rapidly growing area.
    Where is this commercial land located?
    The property is located at W Heritage PKWY Prairie Grove, AR.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: Prime commercial development opportunity along the new Hwy 62 Bypass.; Located in a rapidly growing area.; High traffic volume: 11,000 CPD along Hwy 62.
    (479) 267-4000
    We can help!
    Listing Contact
    Eddie Bowling
    Real Estate License ID: EB00077080
    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!