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    Commercial Land in High Growth Area Title is generated by Realmo AI

    Northridge Drive Legacy Business Park, Van Buren, AR 72956

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    Land ideal for office, retail, and multi-family development.

    Type:Land
    Added:
    Nov 12, 2020
    Days on Market:
    2017
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for Northridge Drive Legacy Business Park

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Rodney Ghan
    Rodney Ghan

    Listing agent Rodney Ghan License #EB00049850

    Listing office Ghan & Cooper Commercial Properties

    Listing date Nov 12, 2020

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ghan & Cooper Commercial Properties

    HighLights

    • Located in a high‑growth area for housing and retail north of Van Buren, Arkansas.
    • Less than one mile north of Interstate 40, providing easy access.
    • Ideal for office, retail, and multi‑family development.
    • Signaled intersection at the development entrance.
    • High traffic counts: Hwy. 59 (23,000 cars/day) and Interstate 40 (23,500 cars/day).
    • Future access to residences in northeast Van Buren via Northridge Drive extension to Oliver Springs Road.

    Overview

    Located north of Van Buren, Arkansas, in a high-growth area for housing and retail, this commercial land is situated less than a mile north of Interstate 40, providing convenient access for customers, clients, employees, and residents. The property is suitable for office, retail, and multi-family development. A signaled intersection is present at the entrance of the development. Traffic counts on Hwy. 59 average 23,000 cars per day, and Interstate 40 reaches 23,500 cars per day. Van Buren’s master street plan indicates Northridge Drive will be a through street to Oliver Springs Road, providing access to residences in the northeast area of Van Buren to the newly developing retail corridor along Hwy. 59.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Van Buren
    County
    Crawford
    State
    Arkansas
    Longitude
    -94.2992
    Latitude
    35.458

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    FAQs

    What type of property is this?
    Commercial land - Land ideal for office, retail, and multi-family development.
    Where is this commercial land located?
    The property is located at Northridge Drive Legacy Business Park Van Buren, AR.
    What is the asking price?
    The asking price for this property is $169,000.
    What are key features of this property?
    This property features: Located in a high‑growth area for housing and retail north of Van Buren, Arkansas.; Less than one mile north of Interstate 40, providing easy access.; Ideal for office, retail, and multi‑family development.
    (479) 478-6161 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rodney Ghan
    Rodney Ghan
    Real Estate License ID: EB00049850
    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.

    More about this property
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    Northridge Drive, Legacy Business Park, Van Buren, AR 72956
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