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

    TBD N State Hwy 23 lot 4 & 5, Booneville, AR 72927

    View on Map
    Claim this Listing
    New
    For Sale
    $74,900

    LAND - Booneville, AR

    Lot size:
    11.40 Acres
    Added:
    May 26, 2026
    Days on Market:
    6
    Last Refresh:
    May 31 at 6:06 pm

    Property Features for TBD N State Hwy 23 lot 4 & 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    11.40 Acres

    Taxes and HOA fees

    Tax Description
    Tract 4 & Tract 5-Full Legal Description attached for each tract
    Tax Annual Amount
    34

    Utilities

    Sewer type
    Septic Needed, Other

    We can help!

    Listing Contact
    Jeannie Wester

    Listing agent Jeannie Wester License #SA00083965

    Listing office Chuck Fawcett Realty FSM 4720 Rogers Ave Suite C, Fort Smith, AR

    Listing date May 26, 2026

    MLS# 1089319 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.

    HighLights

    • 11.40‑acre property offering privacy and space
    • Conveniently located near Booneville City Lake and Cherokee Golf Course
    • Potential for hunting and outdoor recreation activities
    • Easy access to Highway 23 North and local amenities
    • Tract 5 includes existing infrastructure
    • Opportunity to purchase additional acreage for expanded use

    Overview

    This 11.40-acre property, combining Tracts 4 and 5, is located just off Highway 23 North. It offers a setting suitable for a home, cabin retreat, weekend getaway, RV living, or outdoor recreation. The property provides access to the Booneville City Lake (5 minutes away), Cherokee Golf Course (10 minutes), the Arkansas River in Ozark (25 minutes), and Blue Mountain Lake, Cove Lake, and the wineries of Altus (30 to 35 minutes). MJ's Bar & Grill is approximately 2 minutes away. Tract 5 includes an old light pole, a previous water meter location, and an older concrete block foundation; the seller does not know the condition of these items. Tract 4 contains a Diamond Pipeline 50-foot easement with certain restrictions. The seller is also willing to sell Tracts 2-5 combined for buyers seeking additional acreage for building sites, recreation, hunting, ATV use, or a larger private retreat.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Booneville
    County
    Logan
    State
    Arkansas
    Longitude
    -93.9289
    Latitude
    35.1096

    Nearby Similar for Sale

    • $999,000
      13,362 SF

      Turnkey Assisted Living Facility

      Well-maintained facility on a high-traffic corridor with endless potential.
      1501 Main ST, Booneville, AR 72927
      View Details
    • $369,900
      5,950 SF

      Booneville Commercial Building on Acre

      Well-maintained commercial building with road frontage, suitable for various ventures.
      1459 N State Highway 23, Booneville, AR 72927
      View Details
    • $315,000
      4,224 SF

      Turnkey Fitness Business Opportunity

      Established gym for sale in Booneville, Arkansas.
      345 E 2nd ST, Booneville, AR 72927
      View Details
    • $249,900
      4,816 SF

      Downtown Booneville Mixed-Use Opportunity

      Two mixed-use buildings in downtown Booneville with high visibility.
      147 & 149 N Broadway AVE, Booneville, AR 72927
      View Details
    • $999,000
      5,200 SF

      Hometown Inn: Income Property

      33-room income property with Main Street access in Booneville, AR.
      320 Mccandless AVE Unit #33, Booneville, AR 72927
      View Details
    • $129,000
      4,344 SF

      Main Street Commercial Opportunity

      Three commercial spaces for sale on Main Street.
      54-62 E Main ST, Booneville, AR 72927
      View Details
    • $1,100,000
      4,727 SF

      Equestrian Estate with Home and Facilities

      60-acre estate with home, guesthouse, and equestrian facilities.
      548 Lowder Rd, Booneville, AR 72927
      View Details
    • $148,000
      2,380 SF

      Downtown Booneville Commercial Building

      Historic building with modern updates and prime downtown visibility.
      147 N Broadway AVE, Booneville, AR 72927
      View Details
    • $61,500
      1,972 SF

      Affordable Commercial Opportunity in Booneville

      Commercial space in downtown Booneville, Arkansas, ready for your business.
      172 N Broadway AVE, Booneville, AR 72927
      View Details
    • $129,900

      20+ Acres of Wooded Land

      20+ acres for recreation, investment, or building a home.
      6572 N State Highway 23 lot: 2,3,4,5, Booneville, AR 72927
      View Details
    • $129,900

      20+ Acres Wooded Land

      20.42 acres of wooded land near Highway 23.
      6572 N State Hwy 23 lot: 2,3,4,5, Booneville, AR 72927
      View Details
    • $12,000

      Corner Lot in Booneville, AR

      Residential corner lot with storm shelter in Booneville, Arkansas.
      867 Rhyne AVE, Booneville, AR 72927
      View Details

    FAQs

    What type of property is this?
    Recreation land - 11.4 acres for recreation, home, cabin, or RV living.
    Where is this recreation land located?
    The property is located at TBD N State Hwy 23 lot 4 & 5 Booneville, AR.
    What is the asking price?
    The asking price for this property is $74,900.
    What are key features of this property?
    This property features: 11.40‑acre property offering privacy and space; Conveniently located near Booneville City Lake and Cherokee Golf Course; Potential for hunting and outdoor recreation activities
    (479) 484-5588
    We can help!
    Listing Contact
    Jeannie Wester
    Real Estate License ID: SA00083965
    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
    TBD N State Hwy 23 lot: 4 & 5, Booneville, AR 72927
    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!