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    2025 Van Buren Eureka Springs, AR 72632

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    For Sale
    $3,095,000

    MULTI_FAMILY - Eureka Springs, AR

    Property size:
    28,652 SF
    Lot size:
    1.57 Acres
    Price / SF:
    $108/SF
    Added:
    Apr 30, 2026
    Days on Market:
    3
    Last Refresh:
    May 2 at 7:06 pm

    Property Features for 2025 Van Buren

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    925-01878-002
    Size
    28,652 SF
    Lot size
    1.57 Acres

    Taxes and HOA fees

    Tax Description
    PT NW NE
    Tax Annual Amount
    11678

    Utilities

    Heating system
    Ductless (Heating)
    Cooling system
    Electric

    Building Details

    Floors in Building
    3
    Number of units
    53
    Flooring type
    Concrete
    Roof type
    Other

    We can help!

    Listing Contact
    Joshua Harmon
    Joshua Harmon

    Listing agent Joshua Harmon License #PB00080746

    Listing office Harmon Real Estate Company 911 S May Avenue, Fort Smith, AR

    Listing date Apr 30, 2026

    MLS# 1088575 Listing URL

    Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Eureka Springs Multifamily Investment Opportunity

    The Ravine Apartments, located in Eureka Springs, Arkansas, presents a multifamily opportunity. This residential portfolio includes 53 units across four buildings at 2025A, 2025B, 2025C, and 2027 East Van Buren Street. The property, originally a motel, has been converted to long-term residential use. All buildings feature new roofs, full electrical upgrades, plumbing, and individual PTAC HVAC units. The unit mix includes studios, one-bedroom, and two-bedroom apartments, each with a full kitchen including a stove and refrigerator. Individual electric meters per unit limit owner utility exposure to water, sewer, trash, and internet service. An on-site laundry facility serves Building 2025C. Building 2025A, a nine-unit two-bedroom addition, is currently under construction with an estimated completion date of June 1, 2026. The property currently generates $27,550 per month in gross rental income across 37 occupied units. There are 8 existing vacancies. Upon full stabilization of all 53 units, the property is projected to generate over $491,000 in annualized gross potential rent. The property is situated on a 1.57-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Eureka Springs
    County
    Carroll
    State
    Arkansas
    Longitude
    -93.731839
    Latitude
    36.390955

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    FAQs

    What type of property is this?
    Apartment building - 53-unit residential portfolio in Eureka Springs, Arkansas.
    Where is this apartment building located?
    The property is located at 2025 Van Buren Eureka Springs, AR.
    What is the asking price?
    The asking price for this property is $3,095,000.
    (479) 719-0344
    We can help!
    Listing Contact
    Joshua Harmon
    Joshua Harmon
    Real Estate License ID: PB00080746
    Learn More
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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.

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    2025 Van Buren, Eureka Springs, AR 72632

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