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    Heber Springs Land Development Opportunity Title is generated by Realmo AI

    N Scenic Drive, Heber Springs, AR 72543

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    For Sale
    $299,900

    LAND - Heber Springs, AR

    Lot size:
    23.62 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    72
    Last Refresh:
    May 22 at 12:06 pm

    Property Features for N Scenic Drive

    General Information

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

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PT 13-10-10 & PT 14-10-10 Cleb
    Tax Annual Amount
    30

    We can help!

    Listing Contact
    Carl Houvener
    Carl Houvener

    Listing agent Carl Houvener

    Listing office McKenzie Realty Group 400 W Main St, Heber Springs, AR

    Listing date Mar 12, 2026

    MLS# 26009539 Listing URL

    Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 38 Fully Platted Lots: Ready for immediate construction, offering a substantial development opportunity.
    • Shovel‑Ready: Minimal site work needed, accelerating the building process.
    • Utilities Available: Sewer locations on East and West sides, simplifying infrastructure setup.
    • Roads and Culverts Installed: Reduces initial development costs and time.
    • High‑Demand Lake Area: Attractive location likely to generate strong buyer interest.
    • Priced as a Steal: Represents a significant cost advantage for the buyer.

    Overview

    This property presents a development opportunity in Heber Springs, Arkansas, featuring half of a subdivision with 38 fully platted lots. These larger lots are ready for immediate construction. The site has cut roads and installed culverts, which minimizes the site work needed. Utilities are available, including sewer locations on the east and west sides of the property. This land is located in a high-demand lake area.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Heber Springs
    County
    Cleburne
    State
    Arkansas
    Longitude
    -92.021709
    Latitude
    35.5035048

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    FAQs

    What type of property is this?
    Residential land & home lot - Shovel-ready land with 38 platted lots in high-demand area.
    Where is this residential land & home lot located?
    The property is located at N Scenic Drive Heber Springs, AR.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: 38 Fully Platted Lots: Ready for immediate construction, offering a substantial development opportunity.; Shovel‑Ready: Minimal site work needed, accelerating the building process.; Utilities Available: Sewer locations on East and West sides, simplifying infrastructure setup.
    (501) 691-5656
    We can help!
    Listing Contact
    Carl Houvener
    Carl Houvener
    Learn More
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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.

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