Historic Mixed-Use Event
For Sale
Contact for pricing
104 N 13TH ST, Van Buren, AR 72956
Two adjacent downtown parcels combine an operating event venue with two short-term rental projects at different stages of completion.
Property Size5,774 SF
Price / SF$103.74
Days on Market21
Property Features for 104 N 13TH ST
General Information
Standard status
Active
Size
5,774 SF
Class
B
Property subtype
Mixed Use
Financials
Asking Price
$599,000
Business Included
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
2
Stories
1
Units
1
Listing Agency:
Keller Williams Platinum Realty
Listed By:
Randy Pendergraft · License #SA00090560
Source:
Crexi
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 31 at 12:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Platinum Realty
Investment Insights
Based on property information with market context.
This mixed-use portfolio includes two adjacent parcels in Van Buren’s historic downtown. The primary improvement is a two-level event venue measuring 4,550 square feet, with cathedral ceilings, an original wood balcony, hardwood floors, and a kitchen. The building occupies a historic former church structure with a cornerstone dating to 1912 and dedication in 1913.
A studio apartment on the 0.82-acre parcel is undergoing renovation and is positioned as a short-term rental project. The neighboring 0.54-acre parcel contains an 1887 Victorian home currently used as a residence. Its unfinished primary-suite addition is intended to bring the home to 2,397 square feet, and the property also includes a walkout basement, attached garage, and corner-lot setting.
Short-term rental use is permitted in both applicable zoning areas. The portfolio is located at 104 and 105 N 13th Street in Van Buren, with the historic district, a Dardanelle & Russellville Railroad excursion train, and access to the Fort Smith MSA identified in the property information.
A studio apartment on the 0.82-acre parcel is undergoing renovation and is positioned as a short-term rental project. The neighboring 0.54-acre parcel contains an 1887 Victorian home currently used as a residence. Its unfinished primary-suite addition is intended to bring the home to 2,397 square feet, and the property also includes a walkout basement, attached garage, and corner-lot setting.
Short-term rental use is permitted in both applicable zoning areas. The portfolio is located at 104 and 105 N 13th Street in Van Buren, with the historic district, a Dardanelle & Russellville Railroad excursion train, and access to the Fort Smith MSA identified in the property information.
Key Highlights
- Operating event venue in a former church structure with a cornerstone dating to 1912 and dedication in 1913
- Two‑floor, 4,550‑square‑foot venue with cathedral ceilings, hardwood floors, original wood balcony, and kitchen
- 0.82‑acre parcel includes a studio apartment with renovations underway
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
$50,234
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
8.39%
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%
$1,004,680
$1.0M
Cap Rate 7%
$717,629
$717.6K
Cap Rate 9%
$558,156
$558.2K
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
$86.6K $15.00/SF
− Vacancy
−$6.2K −$1.08/SF
EGI
$80.4K $13.92/SF
− OpEx
−$30.1K −$5.22/SF
NOI
$50.2K $8.70/SF
Area
Crawford County, AR
Vacancy
7.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,004,680
Cap Rate 7%
$717,629
Cap Rate 9%
$558,156
Alternative Uses
Best Use
Mixed Use
$717.6K
$627.9K – $837.2K
NOI $50,234 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 5.93%
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
686
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?
Mixed-use property - Two adjacent downtown parcels combine an operating event venue with two short-term rental projects at different stages of completion.
Where is this mixed-use property located?
The property is located at 104 N 13TH ST 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 former church structure with a cornerstone dating to 1912 and dedication in 1913; Two‑floor, 4,550‑square‑foot venue with cathedral ceilings, hardwood floors, original wood balcony, and kitchen; 0.82‑acre parcel includes a studio apartment with renovations underway
