Historic Wedding Venue
For Sale
$599,000
104 & 105 N 13th Street, Van Buren, AR 72956
CommercialSale, Van Buren, AR
Property Size5,774 SF
Lot Size1.36 Acres
Price / SF$103.74
Days on Market10
Property Features for 104 & 105 N 13th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot
Security features
Security
Appliances
GasWaterHeater
Lot features
Business Park, Corner Lot, City Lot, Neighborhood
Directions
From Main St. Van Buren, go north on N. 13th St., Property 1 block north on right.
Standard status
Active
APN
700-03835-001
Size
5,774 SF
Lot size
1.36 Acres
Taxes and HOA fees
Tax Description
PT 8 ALL 9-12
Tax Annual Amount
2005
Legal Description
PT 8 ALL 9-12
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Flooring type
Wood, Concrete
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
(479) 434-3000
Listed By:
Michelle Pendergraft · License #SA00083314
(479) 459-7158
Added: Aug 11
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# 1358278
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.
Investment Insights
Based on property information with market context.
This wedding venue portfolio combines two adjoining historic properties at 104 and 105 N 13th Street. Magnolia Place occupies a converted church used as an active event venue, with approximately 4,550 square feet across two floors, cathedral ceilings, an original wood balcony, hardwood flooring, and a kitchen. The property also includes a studio apartment undergoing renovation.
The second property is an 1887 Victorian residence with a started primary-suite addition, walkout basement, attached garage, and corner-lot position. Together, the properties contain 5,774 square feet on 1.36 acres. Additional features include central heating and cooling, public water, a gas water heater, concrete and wood flooring, and a parking lot.
The second property is an 1887 Victorian residence with a started primary-suite addition, walkout basement, attached garage, and corner-lot position. Together, the properties contain 5,774 square feet on 1.36 acres. Additional features include central heating and cooling, public water, a gas water heater, concrete and wood flooring, and a parking lot.
Key Highlights
- Operating event venue in a converted church with 4,550 square feet across two floors
- Cathedral ceilings, original wood balcony, hardwood floors, and kitchen at Magnolia Place
- Two adjoining properties at 104 and 105 N 13th Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,517
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,340
$710.3K
Cap Rate 7%
$507,386
$507.4K
Cap Rate 9%
$394,633
$394.6K
Market Conditions
NOI Build-Up for 5,774 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.3K $12.00/SF
− Vacancy
−$4.7K −$0.82/SF
EGI
$64.6K $11.18/SF
− OpEx
−$29.1K −$5.03/SF
NOI
$35.5K $6.15/SF
Area
Crawford County, AR
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,340
Cap Rate 7%
$507,386
Cap Rate 9%
$394,633
Alternative Uses
Best Use
Apartment 5plus
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.7K – $1.29M
NOI $77,492 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 72956, AR
33,870
Population
14,119
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
103.8 sq mi
ZIP Area
326
Density / Sq Mi
$60,387
Median Household Income
$33,894
Median Earnings
$825
Median Rent
$177,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Two adjoining historic properties include an operating event venue, a residence, and an apartment renovation in progress.
Where is this wedding venue located?
The property is located at 104 & 105 N 13th Street Van Buren, AR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Operating event venue in a converted church with 4,550 square feet across two floors; Cathedral ceilings, original wood balcony, hardwood floors, and kitchen at Magnolia Place; Two adjoining properties at 104 and 105 N 13th Street
