Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    69 Courthouse Sq Murfreesboro, AR 71958

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $398,000

    Historic 12-unit hotel near Crater of Diamonds State Park.

    Lot size:
    0.34 Acres

    Property Features for 69 Courthouse Sq

    General Information

    Standard status
    Active
    Lot size
    0.34 Acres

    We can help!

    Listing Contact
    Kathy Samson
    Source: Exprealty

    Listing Agency: Gerald Haire Realty Listing Agent: Kathy Samson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Historic Hotel Near Crater of Diamonds

    This historic brick building, featuring a slab and copper roof, is the oldest in Pike County, AR. The property operates as a hotel with 12 rental units, each furnished with custom-built cedar furnishings. The property includes a manager's quarter with 3 bedrooms, 1 bath, and an open kitchen and living area. Laundry and maid's quarters are available on both the upper and lower floors. A seating area with a breakfast bar is also included. The hotel is located in downtown Murfreesboro, AR, near local diners and shops, and a few miles from Lake Greeson. It is the closest hotel to the Crater of Diamonds State Park.
    Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Realty agency Auto Repair Shop Hotel & Motel Travel Agency Parking Facility Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Pike
    State
    Arkansas
    Longitude
    -93.718
    Latitude
    34.0925

    Nearby Similar for Sale

    • $899,000
      10,332 SF

      Murfreesboro Motel with Water Park

      36-unit motel with water park near diamond mine.
      919 N Washington St, Murfreesboro, AR 71958
      View Details
    • $899,000
      10,332 SF

      Motel and Water Park

      36-unit motel with water park on two city blocks.
      919 N Washington St, Murfreesboro, AR 71958
      View Details
    • $398,000
      8,700 SF

      Historic Hotel Near Diamond Crater

      Iconic 12-unit hotel near Crater of Diamonds State Park.
      69 Courthouse Sq St, Murfreesboro, AR 71958
      View Details
    • $398,000
      8,700 SF

      Historical Hotel Near Crater Diamonds

      Historical 12-unit hotel near Crater of Diamonds State Park.
      69 Courthouse Sq, Murfreesboro, AR 71958
      View Details
    • $350,000
      390 SF

      Cabin and RV Storage in Murfreesboro

      Income-generating property with cabin and RV storage near Lake Greeson.
      22 E Diamond City Rd, Murfreesboro, AR 71958
      View Details
    • $899,000

      Motel and Water Park

      36-unit motel with water park near town square.
      919 N Washington Ave, Murfreesboro, AR 71958
      View Details

    FAQs

    What type of property is this?
    Hotel - Historic 12-unit hotel near Crater of Diamonds State Park.
    Where is this hotel located?
    The property is located at 69 Courthouse Sq Murfreesboro, AR.
    What is the asking price?
    The asking price for this property is $398,000.
    What are key features of this property?
    This property features: - Oldest building in Pike County, AR, offering a unique historical property.; - Closest hotel to Crater of Diamonds State Park, a major tourist attraction.; - Twelve rental units with custom-built cedar furnishings.
    (903) 791-1088
    Request Owner's contact information
    69 Courthouse Sq Murfreesboro, AR 71958
    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.
    69 Courthouse Sq
    Murfreesboro, AR 71958
    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
    69 Courthouse Sq Murfreesboro, AR 71958
    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

    We can help!
    Listing Contact
    Kathy Samson
    (903) 791-1088
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.