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    Property profile & analytics

    204 Highway 71 Mena, AR 71953

    • Drug stores
    • 2,720 SF
    • 0.30 lot acres
    For Sale
    View listing
    $729,000
    Last Sale
    Dec 11, 2024
    $298,969
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1969578
    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

    • Drug stores

    Property Details for 204 Highway 71

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.30 lot acres
    Property size
    2,720 SF
    Property type
    Drug stores
    APN
    6000-00524-0000
    APU
    6000005240000

    Description

    This exceptional 0.29-acre commercial lot presents a unique investment opportunity in the thriving Mena, Arkansas market. Located at 204 Hwy 71, this property boasts a highly visible street frontage on a major thoroughfare, ensuring maximum exposure for any business venture. The expansive 0.29 acres offer ample space for development, allowing for flexibility in design and construction to suit a variety of commercial uses. The strategic location provides easy access to local amenities, residential areas, and major transportation routes, making it an ideal site for businesses seeking high visibility and convenient accessibility. The asking price of $729,000 reflects the significant potential of this prime commercial land parcel. Its prime location and substantial size make it an attractive proposition for developers, investors, and entrepreneurs looking to establish a strong presence in the Mena area. The property's versatility allows for a wide range of development possibilities, from retail spaces and restaurants to office buildings and other commercial enterprises. Serious inquiries are encouraged to explore the full potential of this exceptional commercial land opportunity. The property is ready for immediate development, presenting a rare chance to capitalize on a highly desirable location in a growing market. Don't miss this chance to secure a prominent position on Hwy 71 in Mena, AR. Further details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $300,000
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $286,000
      Market price range: $95.1k - $287k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $190,000
      Current use
      OFFICE BUILDING
      $400,000
      Change: +112% Conversion: Easy
      COMMERCIAL (GENERAL)
      $250,000
      Change: +33% Conversion: Easy
      AUTO REPAIR, GARAGE
      $185,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mena
    County
    Polk
    State
    Arkansas
    Longitude
    -94.2324
    Latitude
    34.5844

    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
    2024
    $2,058
    $6,500
    $41,820
    $48,320
    -
    $32,500
    $209,100
    $241,600

    Comparable in this City

    • Value Estimation
      $230,000
      7,620 SF

      803 Hwy 71st N

      DRUG STORE, PHARMACY • 7,620 SF
      803 Hwy 71st N, Mena, AR 71953-4367
      View Details
    • Value Estimation
      $275,000
      10,910 SF

      710 4th St

      DRUG STORE, PHARMACY • 10,910 SF
      710 4th St, Mena, AR 71953-3314
      View Details
    • Value Estimation
      $255,000
      2,750 SF

      817 Mena St

      RETAIL STORES (PERSONAL SERVICES) • 2,750 SF
      817 Mena St, Mena, AR 71953-4245
      View Details
    • Value Estimation
      $210,000
      4,400 SF

      901 Mena St

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      901 Mena St, Mena, AR 71953-4247
      View Details
    • Value Estimation
      $255,000
      1,050 SF

      513 Mena St

      RETAIL STORES (PERSONAL SERVICES) • 1,050 SF
      513 Mena St, Mena, AR 71953-3337
      View Details
    • Value Estimation
      $250,000
      1,260 SF

      515 Sherwood Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,260 SF
      515 Sherwood Ave, Mena, AR 71953-3233
      View Details

    Similar Nearby for Sale

    • $189,000
      2,400 SF

      Vacant Metal Building in Mena

      Vacant metal building with office, shop, and waiting area.
      3084 Highway 71 S, Mena, AR 71953
      View Details
    • $230,000
      2,312 SF

      Updated Building and Land

      Updated building with new electrical, sheetrock, and flooring.
      1105 11 Steet, Mena, AR 71953
      View Details
    • $729,000
      2,720 SF

      Retail Building and Land For Sale

      Retail building on Hwy 71 with excellent parking.
      204 Highway 71, Mena, AR 71953
      View Details
    • $693,000
      1,920 SF

      Mena Commercial Building and Land

      Commercial building and land in a high-visibility, populated area.
      701 S Morrow St, Mena, AR 71953
      View Details
    • $650,000
      8,864 SF

      Historic Mena Building: Investment Opportunity

      Restored historic building in Mena, AR with multiple income streams.
      601 Mena St, Mena, AR 71953
      View Details
    • $200,000
      4,160 SF

      Versatile Building on Acre Lot

      4,160 sq ft building on 1 acre in Mena.
      574 Polk Road 50, Mena, AR 71953
      View Details
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    204 Highway 71
    Mena, AR 71953
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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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