Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1624 Highway 63 Hardy, AR 72542

    • Commercial real estate
    • 2.00 lot acres
    For Sale
    View listing
    $124,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1624 Highway 63

    Year built
    1976
    Lot size
    2.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2-acre property, located at 1624 Hwy 63 E Unit No in Hardy, Arkansas, presents a unique investment opportunity. The land is ideally situated along Highway 63 East, offering excellent visibility and accessibility. The expansive 2-acre lot provides ample space for a variety of potential uses, making it suitable for diverse development projects. Given its prime location and size, this property is well-suited for entrepreneurs seeking a strategic investment in a growing area. The asking price is $124,900, representing a compelling value for the land's potential. The property is classified as "Other" in terms of property type, suggesting flexibility in its future development. Further due diligence is recommended to fully explore the possibilities this land offers. Its location on Highway 63 East ensures high traffic visibility, a key factor for businesses seeking maximum exposure. The absence of a specified square footage allows for a wide range of development plans, from commercial ventures to potential residential construction, subject to local zoning regulations. This property's potential is significant, making it an attractive proposition for investors seeking a strong return on investment in a desirable location. Serious inquiries are encouraged to explore the possibilities of this unique land offering in Hardy, Arkansas. The property is ready for its next chapter, and the possibilities are vast.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hardy
    County
    Sharp
    State
    Arkansas
    Longitude
    -91.4011
    Latitude
    36.298

    Comparable in this City

    • Value Estimation by Request
      3.30 Acres

      7 Asher Dr

      Land • 3.30 Acres
      7 Asher Dr, Hardy, AR 72542
      View Details
    • Value Estimation by Request
      0.06 Acres

      132 Main

      Commercial real estate • 0.06 Acres
      132 Main, Hardy, AR 72542
      View Details
    • Value Estimation by Request
      0.05 Acres

      412 Hwy 62412th W

      COMMERCIAL (GENERAL) • 0.05 Acres
      412 Hwy 62412th W, Highland, AR 72542
      View Details
    • Value Estimation by Request

      Hwy 62412th Highway

      COMMERCIAL (GENERAL)
      Hwy 62412th Highway, Highland, AR 72542
      View Details
    • Value Estimation by Request

      Hwy 62

      COMMERCIAL (GENERAL)
      Hwy 62, Hardy, AR 72542
      View Details
    • Value Estimation by Request
      1,554 SF

      Hwy 63

      COMMERCIAL (GENERAL) • 1,554 SF
      Hwy 63, Hardy, AR 72542
      View Details

    Similar Nearby for Sale

    • $320,000
      3.00 Acres

      Hardy, AR Commercial Land Opportunity

      Three-acre commercial lot, $320,000.
      1947 63, Hardy, AR 72542
      View Details
    • $259,900
      1.82 Acres

      Highland Commercial Land Opportunity

      1.82 Acres, Prime Highway Location
      1794 Hwy, Highland, AR 72542
      View Details
    • $387,000
      0.07 Acres

      Hardy, AR Commercial Land Opportunity

      Prime 0.07-acre lot, ideal for development.
      214 Main, Hardy, AR 72542
      View Details
    • $52,900
      1.05 Acres

      Hardy, AR Acreage - Prime Development Opportunity

      1.05-acre lot, ideal for development. $52,900.
      Griffin Rd, Hardy, AR 72542
      View Details
    • $225,000
      3.75 Acres

      Highland Commercial Land Opportunity

      3.75 Acres, Prime Highway Location
      2530 Hwy, Highland, AR 72542
      View Details
    • $319,000
      0.24 Acres

      Highland Commercial Lot - Prime Location

      0.24-acre lot, ideal for development. High traffic area.
      2475 Hwy, Highland, AR 72542
      View Details
    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.
    1624 Highway 63
    Hardy, AR 72542
    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

    Google sign-in failed. Please try again or use another login method.