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    23375 Highway 64 Knoxville, AR 72845

    • Warehouses
    • 15,256 SF
    • 5.87 lot acres
    For Sale
    View listing
    $359,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0751075
    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

    • Warehouses

    Property Details for 23375 Highway 64

    Lot size
    5.87 lot acres
    Property size
    15,256 SF
    Property type
    Warehouses
    APN
    007-00132-067C
    APU
    00700132067C

    Description

    This exceptional 5.86-acre property located at 23375 Highway 64 in Knoxville, Arkansas, presents a unique opportunity for investors and developers. The expansive land offers significant potential for a variety of uses, from residential development to commercial ventures. Its strategic location along Highway 64 provides excellent visibility and accessibility. The property's size allows for ample space for building, landscaping, and future expansion. The absence of existing structures provides a blank canvas for customized development, allowing for complete design flexibility and the creation of a tailored project. Given the current market conditions and the property's desirable location, this represents a compelling investment opportunity with strong potential for future appreciation. The property is classified as "Other" in terms of property type, indicating its versatility and suitability for a range of development plans. Serious inquiries are encouraged to explore the possibilities this unique acreage presents. The asking price is $359,900. Detailed site surveys and environmental reports are available upon request. This is a rare opportunity to acquire a significant parcel of land in a growing area. Don't miss out on this chance to shape the future of this prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $391,000
      Market price range: $391k - $1.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Johnson
    State
    Arkansas
    Longitude
    -93.3704
    Latitude
    35.3864

    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
    $1,422
    $7,500
    $17,680
    $25,180
    -
    $37,500
    $88,400
    $125,900

    Comparable in this City

    • Value Estimation
      $210,000
      7,500 SF

      500 Ash St

      WAREHOUSE, STORAGE • 7,500 SF
      500 Ash St, Knoxville, AR 72845-8824
      View Details
    • Value Estimation
      $55,000
      900 SF

      23369 Hwy 64th W

      WAREHOUSE, STORAGE • 900 SF
      23369 Hwy 64th W, Knoxville, AR 72845-8483
      View Details
    • Value Estimation
      $80,000
      3,278 SF

      302 Hwy 315

      WAREHOUSE, STORAGE • 3,278 SF
      302 Hwy 315, Knoxville, AR 72845-8896
      View Details
    • Value Estimation
      $420,000
      20,064 SF

      23924 Hwy 64

      WAREHOUSE, STORAGE • 20,064 SF
      23924 Hwy 64, Knoxville, AR 72845
      View Details
    • Value Estimation
      $255,000
      3,200 SF

      Old Hwy 64

      MINI-WAREHOUSE, STORAGE • 3,200 SF
      Old Hwy 64, Knoxville, AR 72845
      View Details
    • Value Estimation
      $265,000
      4,624 SF

      Hwy 64

      WAREHOUSE, STORAGE • 4,624 SF
      Hwy 64, Knoxville, AR 72845
      View Details

    Similar Nearby for Sale

    • $37,500
      2.70 Acres

      Unrestricted Acreage Ready for Development

      2.7 acres, recently cleaned, utilities available, unrestricted, owner financing.
      381 County Road 2667, Knoxville, AR 72845
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    • New
      Contact for pricing
      0.34 Acres

      Level Corner Lot Knoxville

      0.34-acre lot with utilities near I-40.
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    • $359,900
      5.86 Acres

      Prime 5.86-Acre Knoxville Property

      Exceptional rural acreage, ideal for development. High growth potential.
      23375 Highway 64, Knoxville, AR 72845
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    • $42,000
      3.21 Acres

      Residential Land in Knoxville, AR

      Large residential plot in a quiet, restriction-free neighborhood.
      900 Cr 1651, Knoxville, AR 72845
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    • $42,000
      3.21 Acres

      Residential Land in Knoxville, AR

      Large residential plot in a quiet, peaceful neighborhood near Knoxville.
      900 Cr 1651, Knoxville, AR 72845
      View Details
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    23375 Highway 64
    Knoxville, AR 72845
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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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