Building Details

Year built 1986

Listing Agency: Keller Williams Market Pro Realty Branch · Keller Williams Realty

Listed By: Matthew Ford Show Phone

Added: Jun 1 Changed: Oct 22 Last Checked: Oct 23 at 2:06AM

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MLS# 1089442

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.

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Investment Insights

Based on property information with market context.

This conventional restaurant property is a 4,580-square-foot block building constructed in 1986. The facility is currently used as an event center and includes tables, chairs, a commercial kitchen, four bathrooms, and two handicap-accessible restrooms. Three heat pumps serve the all-electric building, which also has rural water and fiber internet service.

The property occupies 0.87 acres at 20674 S Highway 59 in Evansville, with Highway 59 frontage and a location 7 miles from Stilwell. The building is not currently operating as a restaurant, allowing the existing improvements to support continued event use or a return to restaurant operations. The source information also identifies potential for a convenience store, fuel station, wedding venue, or residential conversion.

Key Highlights

• 4,580‑square‑foot restaurant building on 0.87 acres
• Highway 59 frontage at 20674 S Highway 59
• Currently utilized as an event center

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,777

Cap Rate

8.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$535,540 $535.5K

Cap Rate 7%

$382,529 $382.5K

Cap Rate 9%

$297,522 $297.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,580 SF

Gross rent

$41.2K $9.00/SF

− Vacancy

−$3.0K −$0.65/SF

EGI

$38.3K $8.35/SF

− OpEx

−$11.5K −$2.51/SF

NOI

$26.8K $5.85/SF

Area

Washington County, AR

Vacancy

7.20%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$535,540

Cap Rate 7%

$382,529

Cap Rate 9%

$297,522

Alternative Uses

Best Use

Specialty Retail

$825.0K

$721.9K – $962.5K (±1% cap)

NOI $57,749 @ 7.0% cap · market cap 19.26%

Second Best

Industrial

$382.5K

$334.7K – $446.3K (±1% cap)

NOI $26,777 @ 7.0% cap · market cap 8.93%

Theoretical Best

Office A

$1.23M

$1.08M – $1.43M (±1% cap)

NOI $86,054 @ 7.0% cap · market cap 28.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Garden Center Hair Salon Nail Salon Grocery & Convenience Store Food Market Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 72729, AR

236

Population

111

Households

2.1

Avg Household Size

48

Median Age

100%

High-School Grad

11.4 sq mi

ZIP Area

21

Density / Sq Mi

$367,900

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Existing event-center improvements include a commercial kitchen, dining furnishings, and multiple restrooms.

Where is this conventional restaurant located?

The property is located at 20674 S Highway 59 Evansville, AR.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 4,580‑square‑foot restaurant building on 0.87 acres; Highway 59 frontage at 20674 S Highway 59; Currently utilized as an event center