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    1222 Main St Harrison, AR 72601-2518

    • Motels
    • 43,572 SF
    • 5.19 lot acres
    OFF-MARKET
    Last Sale
    Nov 29, 2023
    $650,000
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0482462
    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

    • Motels

    Property Details for 1222 Main St

    Year built
    1973
    Lot size
    5.19 lot acres
    Property size
    43,572 SF
    Property type
    Motels
    APN
    825-03210-501C
    APU
    82503210501C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $585,000
      ML approach
      $780,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Harrison
    County
    Boone
    State
    Arkansas
    Longitude
    -93.1146
    Latitude
    36.243
    CBSA code
    25460
    CBSA name
    HARRISON, AR MICROPOLITAN 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
    $8,912
    $35,350
    $139,390
    $174,740
    -
    $176,750
    $696,950
    $873,700

    Comparable in this City

    • Value Estimation
      $520,000
      32,621 SF

      1425 Hwy 62nd 65th N

      MOTEL • 32,621 SF
      1425 Hwy 62nd 65th N, Harrison, AR 72601-1912
      View Details
    • Value Estimation
      $600,000
      53,886 SF

      4541 127th Hwy

      MOTEL • 53,886 SF
      4541 127th Hwy, Harrison, AR 72601
      View Details
    • Value Estimation
      $445,000
      20,401 SF

      401 Main St

      MOTEL • 20,401 SF
      401 Main St, Harrison, AR 72601-5415
      View Details
    • Value Estimation
      $270,000
      10,035 SF

      4057 Hwy 7th S

      MOTEL • 10,035 SF
      4057 Hwy 7th S, Harrison, AR 72601-5047
      View Details
    • Value Estimation
      $250,000
      3,008 SF

      610 Central Ave

      BED & BREAKFAST • 3,008 SF
      610 Central Ave, Harrison, AR 72601-5006
      View Details
    • Value Estimation
      $480,000
      22,164 SF

      1330 Hwy 62nd 65th N

      HOTEL • 22,164 SF
      1330 Hwy 62nd 65th N, Harrison, AR 72601-2014
      View Details

    Similar Nearby for Sale

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      14,379 SF

      Historic Mixed-Use Redevelopment Opportunity

      Iconic 4-story building in Harrison's entertainment district.
      201 N Main St, Harrison, AR 72601
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    • $150,000
      0.66 Acres

      Harrison Commercial Lot - Prime Location

      Level lot, high visibility, city utilities.
      3 Cornerstone Way, Harrison, AR 72601
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    • $275,000
      9,636 SF

      Downtown Harrison Retail Gem

      Three-level retail building, endless potential.
      117 Main St, Harrison, AR 72601
      View Details
    • $375,000
      840 SF

      High-Traffic Harrison Office Building

      Prime Hwy 65 location, high visibility, 840 sq ft.
      1515 65 Hwy, Harrison, AR 72601
      View Details
    • $975,000
      2.22 Acres

      High-Visibility Harrison Commercial Land

      Prime 2.22-acre lot, ideal for various businesses.
      65/412 By-Pass, Harrison, AR 72601
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    • $399,000

      Harrison Airport Road Development Opportunity

      7.15-acre parcel near Harrison airport with versatile development potential.
      1800 Airport Rd, Harrison, AR 72601
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    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Retail Space in Harrison, AR

      145,000 SF shopping center anchored by Tractor Supply.
      617 Highway 62 N, Harrison, AR 72601
      View Details
    • $10 SF/Yr
      145,588 SF

      North Hills Shopping Center: Prime Space Available

      Harrison, AR Retail/Office Space: High Traffic, Mountain Views
      605 Us-62, Harrison, AR 72601
      View Details
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    1222 Main St
    Harrison, AR 72601-2518
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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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