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    Historic Mixed-Use Redevelopment Opportunity Title is generated by Realmo AI

    201 N Main Street, Harrison, AR 72601

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    Claim this Listing
    New
    For Sale
    $500,000

    SINGLE_FAMILY - Harrison, AR

    Type:Office
    Property size:
    14,379 SF
    Lot size:
    0.62 Acres
    Price / SF:
    $34/SF
    Added:
    May 30, 2026
    Days on Market:
    2
    Last Refresh:
    May 31 at 5:06 pm

    Property Features for 201 N Main Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Rooms
    Basement
    Standard status
    Active
    APN
    825-00977-000C
    Size
    14,379 SF
    Lot size
    0.62 Acres

    Taxes and HOA fees

    Tax Description
    B 3, L 8-10-12 of Harrison Original Town Boone County, AR
    Tax Annual Amount
    6308

    Building Details

    Year built
    1903

    We can help!

    Listing Contact
    Cindy Dickey

    Listing agent Cindy Dickey License #EB00066429

    Listing office McGraw REALTORS 203 W Wood St Unit A&B, Greenwood, AR

    Listing date May 30, 2026

    MLS# 1349319

    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.

    HighLights

    • Prime location in Harrison's entertainment district with excellent visibility and foot traffic.
    • Historical Tax credits to convey with property: 35% state and 20% federal (based on renovation costs).
    • New Roof and Gutters installed in 2024.
    • Iconic 4‑story historical building (built in 1903) with original details and solid construction.
    • Ideal for mixed‑use development, event space, retail, or residential conversion.
    • Located steps away from restaurants, shops, events, and nightlife.

    Overview

    This iconic 4-story commercial building, over 100 years old, is located in the heart of the downtown entertainment district of Harrison. It offers a unique opportunity for commercial redevelopment, live/work spaces, boutique retail, or hospitality. The property features timeless architecture, original details, and solid construction, presenting a blank canvas for various visions. This property is suited for investors, entrepreneurs, or developers. The property includes historical tax credits that convey with the property, 35% of total renovation for state (which can be sold), and 20% of total renovation for federal. A new roof and new gutters were installed in 2024. The location provides excellent visibility and foot traffic, ideal for mixed-use, event space, retail, or residential conversion. The building is located steps away from restaurants, shops, events, and nightlife. The lot size is 0.62 acres and the property size is 14379 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Harrison
    County
    Boone
    State
    Arkansas
    Longitude
    -93.107013
    Latitude
    36.23115

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    FAQs

    What type of property is this?
    Mixed-use property - Iconic 4-story building in Harrison's entertainment district.
    Where is this mixed-use property located?
    The property is located at 201 N Main Street Harrison, AR.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime location in Harrison's entertainment district with excellent visibility and foot traffic.; Historical Tax credits to convey with property: 35% state and 20% federal (based on renovation costs).; New Roof and Gutters installed in 2024.
    (870) 365-7887
    We can help!
    Listing Contact
    Cindy Dickey
    Real Estate License ID: EB00066429
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    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
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