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    35 Locust St Quitman, AR 72131

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    35 Locust St Quitman, AR 72131

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    • Commercial real estate
    • 4,600 SF
    • 1.50 lot acres
    Off-Market
    Property ID
    US05-0608219
    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 35 Locust St

    Lot size
    1.50 lot acres
    Property size
    4,600 SF
    Property type
    Commercial real estate

    Description

    This exceptional Quitman, AR property, located at 35 Locust Street, offers 4,600 square feet of versatile space on a 1.5-acre lot. The well-maintained barndominium boasts a large shop (2400 sq ft with a 23' ridgeline and a 560 sq ft second-story office/storage area), 10' deep covered porches, and city water and sewer. The interior features a full-house water filtration system, central vacuum, a large kitchen with soft-close drawers and ample cabinet space, an oversized walk-in pantry, and multiple walk-in closets. The home includes a convection oven, ceramic top stove, microwave, and garbage disposal. Most doors are 36" wide for wheelchair accessibility. The shop has a 200-amp electrical service, a 5-ton heat pump, fiberglass insulation, and LED lighting. Plumbing is in place for a third bathroom upstairs. The property's zoning allows for diverse commercial and residential uses, including a church, daycare, or multi-generational living. The expansive lot provides ample space for expansion or additional buildings. This unique property presents a rare opportunity in a growing community with excellent schools. The asking price is $269,000.

    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
    Quitman
    County
    Cleburne
    State
    Arkansas
    Longitude
    -92.212023
    Latitude
    35.3831469

    Comparable in this City

    • $195,000
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      40-Acre Land with Creek Access

      Secluded 40-acre property with creek, pasture, and timberland near town.
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    • $58,100
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      Quitman, AR Subdivision Lot

      Newly subdivided 5.81 acre lot with utilities in Quitman, AR.
      935 Goff Rd, Quitman, AR 72131
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    • $715,000
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      78 Acres with Mountain Views

      78+ acre Quitman, AR land with development potential.
      00 Honeysuckle Ln, Quitman, AR 72131
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    • $130,000
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      Quitman Acreage with Sweeping Views

      Acreage in Quitman near Greers Ferry Lake with vista views.
      950 Tarter Hill Rd, Quitman, AR 72131
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    • $50,000
      5.00 Acres

      Quitman, AR Subdivision Lot

      Newly subdivided lots with utilities and varied natural features.
      935 Goff Rd, Quitman, AR 72131
      View Details
    • $79,625
      16.25 Acres

      Quitman Acreage with Vista View

      Acreage in Quitman near Greers Ferry Lake with vista views.
      952 Tarter Hill Rd, Quitman, AR 72131
      View Details

    Similar Nearby for Sale

    • $195,000
      40.29 Acres

      40-Acre Land with Creek Access

      Secluded 40-acre property with creek, pasture, and timberland near town.
      000 Goff Rd. Via, Quitman, AR 72131
      View Details
    • $58,100
      5.81 Acres

      Quitman, AR Subdivision Lot

      Newly subdivided 5.81 acre lot with utilities in Quitman, AR.
      935 Goff Rd, Quitman, AR 72131
      View Details
    • $715,000
      78.13 Acres

      78 Acres with Mountain Views

      78+ acre Quitman, AR land with development potential.
      00 Honeysuckle Ln, Quitman, AR 72131
      View Details
    • $130,000
      32.50 Acres

      Quitman Acreage with Sweeping Views

      Acreage in Quitman near Greers Ferry Lake with vista views.
      950 Tarter Hill Rd, Quitman, AR 72131
      View Details
    • $50,000
      5.00 Acres

      Quitman, AR Subdivision Lot

      Newly subdivided lots with utilities and varied natural features.
      935 Goff Rd, Quitman, AR 72131
      View Details
    • $79,625
      16.25 Acres

      Quitman Acreage with Vista View

      Acreage in Quitman near Greers Ferry Lake with vista views.
      952 Tarter Hill Rd, Quitman, AR 72131
      View Details
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    Quitman, AR 72131
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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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