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    Property profile & analytics

    309 Southridge Pkwy Heber Springs, AR 72543

    • Office Properties & Spaces
    • 7,200 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • American HomePatient / Home Health Care Service / Medical Supply Store
    • Edward Jones - Financial Advisor: Kimberley A Owen / Stock Broker / Financial Consultant
    • Alliance Homecare Equipment / Home Health Care Service / Medical Equipment Supplier

    Property Details for 309 Southridge Pkwy

    Year built
    2003
    Property size
    7,200 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    This exceptional 7,200 square foot medical office building, constructed in 2003, offers multiple suites for lease in the thriving Heber Springs, AR market. Located at 309 Southridge Parkway, this property boasts a highly desirable location near the intersection of Highway 5 Bypass and Highway 110, providing excellent visibility and accessibility. The building is less than one mile from Baptist Health Medical Center, making it an ideal location for medical professionals and related services. Currently, 2,400 square feet of contiguous space is immediately available, with options ranging from 1,200 to 2,400 square feet. The available space includes 1,200 square feet of unfinished space and 1,200 square feet of previously used dental space, offering flexibility for tenant improvements. A negotiable tenant improvement allowance is available to help customize the space to meet specific needs. The rental rate is $14 per square foot, with tenants responsible for utilities. This presents a fantastic opportunity for medical practices or other professional businesses seeking a well-situated and adaptable space in a growing community. The property's zip code is 72543.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Heber Springs
    County
    Cleburne
    State
    Arkansas
    Longitude
    -91.9972
    Latitude
    35.4931

    Comparable in this City

    • Value Estimation
      $225,000
      8,614 SF

      111 Frnt St

      MEDICAL BUILDING • 8,614 SF
      111 Frnt St, Heber Springs, AR 72543-2655
      View Details
    • Value Estimation
      $315,000
      5,941 SF

      2225 Hwy 110th W

      MEDICAL BUILDING • 5,941 SF
      2225 Hwy 110th W, Heber Springs, AR 72543-3404
      View Details
    • Value Estimation
      $235,000
      2,368 SF

      801 Main St

      MEDICAL BUILDING • 2,368 SF
      801 Main St, Heber Springs, AR 72543-2926
      View Details
    • Value Estimation by Request
      5,000 SF

      201 7th St

      MEDICAL BUILDING • 5,000 SF
      201 7th St, Heber Springs, AR 72543-3718
      View Details
    • Value Estimation
      $230,000
      7,244 SF

      20 Baptist Health Dr

      MEDICAL BUILDING • 7,244 SF
      20 Baptist Health Dr, Heber Springs, AR 72543-8765
      View Details
    • Value Estimation
      $215,000
      1,950 SF

      1031 Hwy 25b

      MEDICAL BUILDING • 1,950 SF
      1031 Hwy 25b, Heber Springs, AR 72543-2034
      View Details

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    309 Southridge Pkwy
    Heber Springs, AR 72543
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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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