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    502 24th St Texarkana, AR 71854-3646

    • Medical offices
    • 4,222 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-2139483
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dr Parker / Doctor

    Property Details for 502 24th St

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    4,222 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    2870060
    APU
    2870060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $216,000
      Market price range: $216k - $519k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $325,000
      Current use
      AUTO REPAIR, GARAGE
      $355,000
      Change: +8% Conversion: Difficult
      OFFICE BUILDING
      $315,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $300,000
      Change: -8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Texarkana
    County
    Miller
    State
    Arkansas
    Longitude
    -94.0379
    Latitude
    33.4453
    CBSA code
    45500
    CBSA name
    TEXARKANA, TX-TEXARKANA, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,555
    $4,580
    $39,930
    $44,510
    -
    $22,900
    $199,650
    $222,550

    Comparable in this City

    • Value Estimation
      $220,000
      3,748 SF

      619 6th St

      MEDICAL BUILDING • 3,748 SF
      619 6th St, Texarkana, AR 71854-5323
      View Details
    • Value Estimation
      $300,000
      5,412 SF

      422 Beech St

      MEDICAL BUILDING • 5,412 SF
      422 Beech St, Texarkana, AR 71854-5310
      View Details
    • Value Estimation by Request
      5,165 SF

      7000 State Line Ave

      MEDICAL BUILDING • 5,165 SF
      7000 State Line Ave, Texarkana, AR 71854-8100
      View Details
    • Value Estimation
      $2,225,000
      7,515 SF

      1307 Trinity Blvd

      MEDICAL BUILDING • 7,515 SF
      1307 Trinity Blvd, Texarkana, AR 71854-8310
      View Details
    • Value Estimation
      $3,110,000
      10,578 SF

      2325 Trinity Blvd

      MEDICAL BUILDING • 10,578 SF
      2325 Trinity Blvd, Texarkana, AR 71854-8406
      View Details
    • Value Estimation
      $220,000
      2,576 SF

      1205 35th St

      MEDICAL BUILDING • 2,576 SF
      1205 35th St, Texarkana, AR 71854-2746
      View Details

    Similar Nearby for Sale

    • $1,099,000
      12,000 SF

      Texarkana Medical Office Building

      12,000 SF Medical Office, Vacant
      910 Realtor Ave, Texarkana, AR 71854
      View Details
    • $325,000
      6,260 SF

      Texarkana Office Building Investment

      6,260 SF Office Building, Great Potential
      923 Hickory St, Texarkana, AR 71854
      View Details
    • $1,399,000
      26,759 SF

      Former Nursing Home Redevelopment Opportunity

      26,759 SF former nursing home ideal for redevelopment.
      1100 East 36Th St, Texarkana, AR 71854
      View Details
    • $870,000
      12,000 SF

      Former VA Outpatient Facility

      12,000 SF vacant facility on 1.12-acre lot.
      910 Realtor Ave, Texarkana, AR 71854
      View Details
    • New
      $159,000
      2,051 SF

      Texarkana Commercial Property For Sale

      Commercial property in downtown Texarkana, currently leased to a clinic.
      408 Hazel St, Texarkana, AR 71854
      View Details
    • $215,000
      2,008 SF

      Texarkana Mixed-Use Commercial Property

      Commercial property near I-30 with potential for residential use.
      1806 E 50Th St, Texarkana, AR 71854
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      6,260 SF

      Texarkana Medical Office Space

      Prime Medical Office, 1,645 SF Available
      923 Hickory St, Texarkana, AR 71854
      View Details
    • $12,000 /Mo
      7,080 SF

      Medical Office in Prime Location

      7,080 SF Class A medical office space for lease.
      114 E 49Th St, Texarkana, AR 71854
      View Details
    • $7 SF/Yr
      5,420 SF

      Texarkana Warehouse: 5,420 SF

      Prime Texarkana warehouse, office space available.
      3201 50Th St, Texarkana, AR 71854
      View Details
    • $12 SF/Yr
      10,050 SF

      Trinity Blvd Office Suites

      Texarkana Office Space: 1,500-4,800 SF
      2203 Trinity Blvd, Texarkana, AR 71854
      View Details
    • New
      $2,500 /Mo
      5,072 SF

      Texarkana Office Building For Lease

      Office building for lease in downtown Texarkana, approximately 5,072 sqft.
      409 Hazel St, Texarkana, AR 71854
      View Details
    • $8 SF/Yr
      7,700 SF

      Texarkana Warehouse For Lease

      7,700 SF Warehouse, 20 Parking Spaces
      3710 Jefferson Ave, Texarkana, AR 71854
      View Details
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    502 24th St
    Texarkana, AR 71854-3646
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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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