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    3021 Highway 71 Mena, AR 71953
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    Property profile & analytics

    3021 Highway 71, Mena, AR 71953

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    • Commercial real estate
    • 3,348 SF
    • 20.00 lot acres
    Off-Market
    Property ID
    US05-1761889
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3021 Highway 71

    Year built
    1996
    Lot size
    20.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3,348 sq ft property, situated on 20 acres just outside Mena, Arkansas, offers breathtaking mountain views. Built in 1996, this two-story brick and frame home features five bedrooms and 4.5 bathrooms, providing ample space for multi-generational living. The main level boasts a formal dining room, breakfast bar, and additional breakfast nook. Interior highlights include new downstairs flooring (2024), a wood-burning fireplace with glass doors and blower, a spacious laundry room with built-in ironing board and cabinets, abundant closet space, and attic storage. Upstairs, a large landing area can serve as a study or game area. The home is equipped with two water heaters, a new architectural shingle roof (2021), central heat (gas) and air conditioning (electric), and insulated windows and doors. Exterior amenities include a beautiful in-ground pool with a new liner, a gazebo, a shop, a storm shelter, a paved tree-lined driveway, and extensive outdoor entertainment space. The property also features a pond, open pasture, and approximately 10 acres of wooded land, offering privacy and recreational opportunities. The lot is level and rural, not located within a subdivision. Utilities include public water, electric (co-op), natural gas, septic, cable TV, and satellite dish. The property is easily accessible via paved roads and allows livestock. Financing options include VA, FHA, conventional loans, and cash. This is a truly remarkable opportunity to own a spacious, well-maintained home with exceptional amenities and stunning natural surroundings.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mena
    County
    Polk
    State
    Arkansas
    Longitude
    -94.2067357
    Latitude
    34.6247841

    Comparable in this City

    • Contact for pricing

      Mena Multi-Unit Apartment Building

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      Mena Apartment Building Investment

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      5,408 SF

      Mena Apartment Building Investment Opportunity

      Seven-unit apartment building in Mena, Arkansas, near amenities.
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    • $347,000
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      Charming Farmette with Income Potential

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      Versatile Land Near Mena, AR

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      Residential Land in Rustic Ridge

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    Similar Nearby for Sale

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      5,408 SF

      Mena Apartment Building Investment Opportunity

      Seven-unit apartment building in Mena, Arkansas, near amenities.
      422 Mena St, Mena, AR 71953
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    • Contact for pricing

      Mena Multi-Unit Apartment Building

      Seven-unit apartment building in Mena, Arkansas, near amenities and trails.
      422 Mena St, Mena, AR 71953
      View Details
    • $550,000
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      Mena Apartment Building Investment

      Seven-unit apartment building in Mena, Arkansas, great investment opportunity.
      422 Mena St, Mena, AR 71953
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    • $347,000
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      Charming Farmette with Income Potential

      Multi-family property on 7 acres with spring-fed creek.
      103 Pine Hollow Ln, Mena, AR 71953
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      Land For Sale in Mena

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      Ouachita Mountain Recreation and Hunting Land

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    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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