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    Florence Rd Monticello, AR 71655

    Sponsored
    For Sale
    $144,258

    63 Acres, Recreational Paradise, $144,258

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional 63.41-acre property in Drew County, Arkansas, presents a unique investment opportunity. Located approximately 13 miles northeast of Monticello, AR, and accessible via a locked gate and dirt logging road, this land offers a blend of recreational potential and long-term timber investment. The property's diverse landscape includes approximately 13 acres of one-year-old pine plantation, promising future timber growth. An additional 21 acres have been recently clear-cut, offering flexibility for various uses. The remaining acreage consists of bottomland hardwoods, providing a rich and varied habitat. The $2,275 per acre price reflects the land's value and potential. With its combination of established pine, recently cleared land, and bottomland hardwoods, this property is ideal for hunting, recreational activities, or as a strategic timber investment. The property's location near Monticello offers convenient access while maintaining a secluded feel. This is a rare opportunity to acquire a sizable tract of land with diverse features in a desirable Arkansas location. The property is zoned for hunting and recreational use. The asking price is $144,258. The zip code is 71655.

    Property Features for 0 Florence Rd

    General Information

    Property type
    Land
    Lot Size
    2,762,140 SF

    We can help!

    Listing Contact
    Mark Knight
    Mark Knight

    Learn more

    HighLights

    • $144,258 asking price for 63.41 acres of recreational land.
    • Located in Drew County, Arkansas, near Monticello.
    • Property includes approximately 13 acres of young pine plantation, 21 acres of recently clear‑cut land, and bottomland hardwoods.
    • $2,275 per acre land value.
    • Access via gated dirt road; suitable for hunting and other recreational activities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Monticello
    County
    Drew
    State
    Arkansas
    Longitude
    -91.7174072
    Latitude
    33.7079312

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    FAQs

    What type of property is this?
    Land - 63 Acres, Recreational Paradise, $144,258
    Where is this land located?
    The property is located at Florence Rd Monticello, AR.
    What is the asking price?
    The asking price for this property is $144,258.
    What are key features of this property?
    This property features: $144,258 asking price for 63.41 acres of recreational land.; Located in Drew County, Arkansas, near Monticello.; Property includes approximately 13 acres of young pine plantation, 21 acres of recently clear-cut land, and bottomland hardwoods.
    Request Owner's contact information
    Florence Rd Monticello, AR 71655
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    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
    Florence Rd Monticello, AR 71655
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    We can help!
    Listing Contact
    Mark Knight
    Mark Knight
    Real Estate License ID: AR PB00058597
    Learn more
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