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    814 Us-62 Harrison, AR 72601
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    814 Us-62 Harrison, AR 72601

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    • Retail properties & Spaces
    • 163,279 SF
    • 12.60 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 814 Us-62

    Year built
    1975
    Lot size
    12.60 lot acres
    Property size
    163,279 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity presents two vacant retail spaces within the Fashion Center Mall in Harrison, Arkansas. Located at 814 US-62, zip code 72601, this established shopping center boasts a total of 163,279 square feet and comprises 11 suites. The mall benefits from a high-traffic location, ensuring excellent visibility and access to a well-established customer base. Currently, 8,500 square feet are available, divided into two spaces: a 1,000 square foot unit and a larger 7,500 square foot unit. The property sits on 12.6 acres of land and was originally constructed in 1975. This presents a unique chance for retailers to establish a presence in a vibrant commercial hub anchored by Hobby Lobby. The property's size and location make it an ideal choice for businesses seeking high visibility and strong foot traffic. The existing infrastructure and established customer base provide a solid foundation for immediate success. Don't miss this chance to secure prime retail space in a thriving Arkansas market. Contact us today to learn more about leasing options and explore the potential of this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Boone
    State
    Arkansas
    Longitude
    -93.1213
    Latitude
    36.2515

    Comparable in this City

    • Value Estimation
      $535,000
      30,618 SF

      719 Stephenson Ave

      ROADSIDE MARKET • 30,618 SF
      719 Stephenson Ave, Harrison, AR 72601-4443
      View Details
    • Value Estimation by Request
      145,588 SF

      605 Us-62

      Restaurants • 145,588 SF
      605 Us-62, Harrison, AR 72601
      View Details
    • Value Estimation by Request
      1,600 SF

      Harrison, AR 72601

      ROADSIDE MARKET • 1,600 SF
      Harrison, AR 72601
      View Details
    • Value Estimation by Request
      6,629 SF

      3983 Seven Loop

      Retail properties & Spaces • 6,629 SF
      3983 Seven Loop, Harrison, AR 72601
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    • Value Estimation by Request
      4,243 SF

      113 Main St

      NURSERY, GREENHOUSE, FLORIST • 4,243 SF
      113 Main St, Harrison, AR 72601-4227
      View Details
    • Value Estimation by Request

      1414 Goblin Dr

      Office Units
      1414 Goblin Dr, Harrison, AR 72601
      View Details

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    Harrison, AR 72601
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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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