1180 Highway 71Mena, AR 71953

Property Details for 1180 Highway 71

Year built

1970

Lot size

0.51 AC

Property size (Sq ft)

3,480 SF

Property type

Office properties

Property subtype

Office buildings

APN

6000-01976-0200

APU

6000019760200

Description

This exceptional 0.51-acre commercial property in Mena, Arkansas, presents a unique investment opportunity. Located at 1180 Highway 71 South, 71953, this property boasts a newly rebuilt (2023) 1,250 square foot structure ideal for hospitality use, such as an Airbnb. The home features high-end finishes including granite countertops in the kitchen and bathrooms, a double walk-in shower with granite and tile, and all new kitchen appliances, including a farmhouse sink and double ovens. The property also includes a substantial 40x60 shop with internet access and Govi lighting surrounding both the shop and the home. The picturesque setting overlooks a beautiful lake and several mature pecan trees. The asking price is $595,000. This property offers significant income potential and is ready for immediate use. Detailed specifications are available in associated documents. This is a rare opportunity to acquire a turnkey hospitality business or a luxurious private residence with exceptional amenities in a desirable location. The property is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $303,358

  6.5%

  $280,023

  7%

  $260,021

• Comparable approach

  Method

  Valuation

  Relative Method

  $248,924

  Geo Method

  $248,924

• Alternative Use

  Use

  Valuation

  Residential

  $347,228

  Hospitality

  $318,059

  Educational

  $264,622

  Medical

  $273,722

  Retail

  $411,633

Location Insight

City

Mena

County

Polk

State

Arkansas

Latitude

34.5726

Longitude

-94.2434

Property Tax & Assessments

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