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    1600 Elm St Hope, AR 71801

    For Sale
    $225,800

    High-cash-flow duplex, prime location.

    Property size:
    3,050 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional mixed-use investment property, located at 1600 S. Elm St, Hope, AR 71801, presents a compelling opportunity. The 3,050 square foot, Class A building, constructed in 1992, features a duplex configuration ideal for generating immediate income. Currently, one 1,525 sq ft unit is occupied by a medical supply company, providing a steady stream of rental revenue. The second, equally sized unit is vacant, offering significant upside potential in this growing market. The property boasts a desirable location in a high-traffic area, further enhancing its investment appeal. The 0.574-acre lot includes 10 parking spaces and offers additional development possibilities. Recent improvements include a new roof and exterior paint. Furthermore, the property presents the potential for additional revenue streams, including a possible cell tower lease. The asking price is $225,800, translating to $74.03 per square foot. The property is zoned for commercial retail use and is a single-owner property. This two-story building is a value-add opportunity with existing commercial tenants. The property is currently 50% occupied.

    Property Features for 1600 Elm St

    General Information

    Property type
    Individual retail properties
    Square Feet
    3,050 SF
    Class
    A
    Lot Size
    25,003 SF

    Building Details

    Year Built
    1992
    Buildings
    1
    Stories
    2
    Units
    2

    HighLights

    • Generating positive cash flow from existing tenant.
    • Two additional income streams available; one unit vacant and immediately leasable.
    • Cell tower lease provides supplemental income.
    • High‑traffic location in a prime area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Delta Medical Supply Medical Supply Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope
    County
    Hempstead
    State
    Arkansas
    Longitude
    -93.588251561668
    Latitude
    33.653568589658

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    FAQs

    What type of property is this?
    Individual retail property - High-cash-flow duplex, prime location.
    Where is this individual retail property located?
    The property is located at 1600 Elm St Hope, AR.
    What is the asking price?
    The asking price for this property is $225,800.
    What are key features of this property?
    This property features: Generating positive cash flow from existing tenant.; Two additional income streams available; one unit vacant and immediately leasable.; Cell tower lease provides supplemental income.
    Request Owner's contact information
    1600 Elm St Hope, AR 71801
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    Realmo Value Estimation

    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.

    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.

    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
    1600 Elm St Hope, AR 71801
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