Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land for Sale Title is generated by Realmo AI

    Lot 31 Blackwell Drive, Cherokee Village, AR 72529

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land available in Cherokee Village, Arkansas.

    Type:Land
    Added:
    Jan 29, 2025
    Days on Market:
    494
    Last Refresh:
    Mar 16 at 8:23 am

    Property Features for Lot 31 Blackwell Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    John K Vick
    John K Vick

    Listing agent John K Vick License #TN 332567

    Listing office eXp Realty LLC

    Listing date Jan 29, 2025

    Source Evrealestate

    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 eXp Realty LLC

    HighLights

    • Fulton County location
    • Located on Blackwell Dr
    • Accessible via Cherokee Road, Laguna Dr, and Mishemokwa Dr

    Overview

    This land is located on Lot 31 Blackwell Drive in Cherokee Village, Arkansas, Fulton County. The property can be found by heading west on Cherokee Road, turning left onto Laguna Drive, then left onto Mishemokwa Drive, and finally right onto Blackwell Drive.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Auto Repair Shop Hair Salon Hotel & Motel Food Market Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Cherokee Village
    County
    Sharp
    State
    Arkansas
    Longitude
    -91.5669
    Latitude
    36.3017

    Nearby Similar for Sale

    • $5,600

      Adjoining Residential Land Lots

      Two adjoining vacant lots in Cherokee Village, offering a wooded setting and access to area lakes and recreation.
      Blackfoot Drive, Cherokee Village, AR 72529
      View Details
    • $3,900

      Wooded Lots in Cherokee Village

      Beautiful wooded lots for recreation, investment, or building a home.
      Iroquois Drive, Cherokee Village, AR 72529
      View Details
    • $35,000

      Riverfront Lot in Cherokee Village

      Wooded riverfront lot perfect for a home or getaway.
      Powhatan Drive, Cherokee Village, AR 72529
      View Details
    • $25,000

      Lakefront Lot in Cherokee Village

      Build-ready lot on Lake Chanute, Fulton County, Arkansas.
      88 Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $27,000

      Omaha Lake Half-Acre Lot

      Half-acre lot on Omaha Lake with unobstructed views.
      Chesapeake Drive, Cherokee Village, AR 72529
      View Details
    • $34,900

      Lakefront Lots in Cherokee Village

      Two lots with 300+ ft lake frontage, ideal for building.
      San Juan Trail, Cherokee Village, AR 72529
      View Details
    • $6,350

      Secluded Golf-Adjacent Homesite

      A quiet, tree-lined lot near outdoor recreation in Cherokee Village, offering a peaceful setting for a future home.
      Spokane Drive, Cherokee Village, AR 72529
      View Details
    • $8,000

      Cherokee Village Land For Sale

      Residential land in Cherokee Village, Arkansas, near Holiday Island Marina.
      Cherokee Lane lot: 1, Cherokee Village, AR 72631
      View Details
    • $75,000

      Lakefront Land in Cherokee Village

      Unimproved lakefront lots with potential for custom home.
      Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $1,200

      Cherokee Village Land For Sale

      Land available in Cherokee Village, Arkansas, with owner financing.
      Piasano Lane lot: 32, Cherokee Village, AR 72529
      View Details
    • $9,500

      Golf Course Homesite Opportunity

      Buildable lot on Hole 16 of Cherokee Village South.
      Katsina Drive, Cherokee Village, AR 72529
      View Details
    • $1,200

      Land in Cherokee Village, AR

      Residential land for sale in Cherokee Village, Arkansas.
      Ababich Lane lot: 48, Cherokee Village, AR 72529
      View Details

    FAQs

    What type of property is this?
    Land - Land available in Cherokee Village, Arkansas.
    Where is this land located?
    The property is located at Lot 31 Blackwell Drive Cherokee Village, AR.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Fulton County location; Located on Blackwell Dr; Accessible via Cherokee Road, Laguna Dr, and Mishemokwa Dr
    (901) 444-2884
    We can help!
    Listing Contact
    John K Vick
    John K Vick
    Real Estate License ID: TN 332567
    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

    Thank You for Inquiry
    Lot 31 Blackwell Drive, Cherokee Village, AR 72529
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!