Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cherokee Village Land Opportunity Title is generated by Realmo AI

    Nokomis Drive, Cherokee Village, AR 72513

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Cherokee Village, AR

    Lot size:
    0.27 Acres
    Added:
    Oct 15, 2025
    Days on Market:
    226
    Last Refresh:
    May 28 at 11:06 am

    Property Features for Nokomis Drive

    General Information

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

    Taxes and HOA fees

    Tax Year
    2021
    Tax Description
    Lot 21, Block 3 Fairway
    Tax Annual Amount
    33

    We can help!

    Listing Contact
    Burdetta Pendergrass

    Listing agent Burdetta Pendergrass

    Listing office United Country Cotham & Co. 1550 Hwy 62-412, Ash Flat, AR

    Listing date Oct 15, 2025

    MLS# 25041475 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

    • Access to Cherokee Village amenities: 7 Lakes, 2 Golf Courses, 2 Recreational Centers.
    • Two lots totaling .27 acres for a single price.
    • Located near the Southfork/Spring River.
    • Fairly level, wooded lot suitable for building.
    • Paved city street access (Nokomis Drive).
    • Close proximity to the Cherokee North Golf Course.

    Overview

    Two lots totaling 0.27 acres are available in Cherokee Village, Arkansas. The property is located on Nokomis Drive, a paved city street, situated uphill from the Southfork/Spring River and near the Cherokee North Golf Course. The land is fairly level and wooded, suitable for building a new home. Property ownership includes access to Cherokee Village amenities, such as seven lakes, two golf courses, and two recreational centers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cherokee Village
    County
    Sharp
    State
    Arkansas
    Longitude
    -91.55059479
    Latitude
    36.31496182

    Nearby Similar for Sale

    • $3,900

      Wooded Lots in Cherokee Village

      Beautiful wooded lots for recreation, investment, or building a home.
      Iroquois Drive, Cherokee Village, AR 72529
      View Details
    • $35,000

      Riverfront Lot in Cherokee Village

      Wooded riverfront lot perfect for a home or getaway.
      Powhatan Drive, Cherokee Village, AR 72529
      View Details
    • $25,000

      Lakefront Lot in Cherokee Village

      Build-ready lot on Lake Chanute, Fulton County, Arkansas.
      88 Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $27,000

      Omaha Lake Half-Acre Lot

      Half-acre lot on Omaha Lake with unobstructed views.
      Chesapeake Drive, Cherokee Village, AR 72529
      View Details
    • $34,900

      Lakefront Lots in Cherokee Village

      Two lots with 300+ ft lake frontage, ideal for building.
      San Juan Trail, Cherokee Village, AR 72529
      View Details
    • $8,000

      Cherokee Village Land For Sale

      Residential land in Cherokee Village, Arkansas, near Holiday Island Marina.
      Cherokee Lane lot: 1, Cherokee Village, AR 72631
      View Details
    • $42,500

      Lakefront Lots in Cherokee Village

      Two adjoining lakefront lots with mature trees and lake frontage.
      42 Enid Drive, Cherokee Village, AR 72529
      View Details
    • $75,000

      Lakefront Land in Cherokee Village

      Unimproved lakefront lots with potential for custom home.
      Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $9,500

      Golf Course Homesite Opportunity

      Buildable lot on Hole 16 of Cherokee Village South.
      Katsina Drive, Cherokee Village, AR 72529
      View Details
    • $1,200

      Land in Cherokee Village, AR

      Residential land for sale in Cherokee Village, Arkansas.
      Ababich Lane lot: 48, Cherokee Village, AR 72529
      View Details
    • $39,500

      Lakefront Land in Cherokee Village

      Unimproved lot on Lake Chanute in Cherokee Village, Arkansas.
      Isleta Drive, Cherokee Village, AR 72529
      View Details
    • $600

      Cherokee Village Land For Sale

      Land available in Cherokee Village, Arkansas, with owner financing.
      Piasano Lane lot: 32, Cherokee Village, AR 72529
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two wooded lots near golf course and Southfork River.
    Where is this residential land & home lot located?
    The property is located at Nokomis Drive Cherokee Village, AR.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Access to Cherokee Village amenities: 7 Lakes, 2 Golf Courses, 2 Recreational Centers.; Two lots totaling .27 acres for a single price.; Located near the Southfork/Spring River.
    (870) 371-0001
    We can help!
    Listing Contact
    Burdetta Pendergrass
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    Nokomis Drive, Cherokee Village, AR 72513
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!