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    317 23Rd St Hope, AR 71801

    For Sale
    $180,000

    1,920 sq ft, Vacant, Redevelopment Potential

    Property size:
    1,920 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This 1,920-square-foot mixed-use property, located at 317 W 23rd St in Hope, Arkansas, presents a unique redevelopment opportunity. The building, constructed in 1979, sits on a 0.13-acre lot and is zoned for commercial use. Currently vacant, this Class B property offers a flexible layout suitable for various uses, including auto shop and creative office spaces. The existing structure features a sliding overhead garage door, ample storage, and a layout conducive to both shop and office functions. Its strategic location near a local university in a safe area provides access to a stable population base. The property's proximity to Highway 29 ensures high visibility and traffic exposure. Furthermore, the potential for cell tower rental adds a significant income stream opportunity. Priced at $180,000 ($93.75 per square foot), this property is an attractive investment for owner-users seeking a redevelopment project with strong potential for return. The single-story building offers 1,920 square feet of net rentable space.

    Property Features for 317 23Rd St

    General Information

    Property type
    Automotive properties
    Square Feet
    1,920 SF
    Class
    B
    Lot Size
    5,663 SF

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    1

    HighLights

    • 12' Sliding overhead garage door.
    • Ample storage and garage space.
    • Excellent location near local college in a safe neighborhood.
    • Potential for cell tower lease income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope
    County
    Hempstead
    State
    Arkansas
    Longitude
    -93.591764700973
    Latitude
    33.646133295194

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    FAQs

    What type of property is this?
    Automotive property - 1,920 sq ft, Vacant, Redevelopment Potential
    Where is this automotive property located?
    The property is located at 317 23Rd St Hope, AR.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: 12' Sliding overhead garage door.; Ample storage and garage space.; Excellent location near local college in a safe neighborhood.
    Request Owner's contact information
    317 23Rd St Hope, AR 71801
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    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
    317 23Rd St Hope, AR 71801
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