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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    507 Spg St Searcy, AR 72143-4218

    • High-rise multifamily apartments
    • 4,736 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    9.8%
    High-rise multifamily apartments
    Location Intelligence
    Property ID
    US05-1775396
    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

    • High-rise multifamily apartments

    Property Details for 507 Spg St

    Year built
    1990
    Lot size
    0.12 lot acres
    Property size
    4,736 SF
    Property type
    High-rise multifamily apartments
    APN
    016-00288-000
    APU
    1600288000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $425,000
      6.5%
      $395,000
      7%
      $365,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $395,000
      OFFICE BUILDING
      $350,000
      COMMERCIAL (GENERAL)
      $325,000
      RETAIL STORES
      $325,000
      MEDICAL BUILDING
      $265,000
      WAREHOUSE, STORAGE
      $185,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Searcy
    County
    White
    State
    Arkansas
    Longitude
    -91.7379
    Latitude
    35.2521
    CBSA code
    42620
    CBSA name
    SEARCY, 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
    2024
    $1,947
    $1,710
    $46,250
    $47,960
    -
    $8,550
    $231,250
    $239,800

    Comparable in this City

    • Value Estimation
      $310,000
      4,004 SF

      306 Market Ave

      HIGH-RISE APARTMENTS • 4,004 SF
      306 Market Ave, Searcy, AR 72143-5430
      View Details
    • Value Estimation
      $285,000
      3,328 SF

      204 Oak St

      HIGH-RISE APARTMENTS • 3,328 SF
      204 Oak St, Searcy, AR 72143-6843
      View Details
    • Value Estimation
      $615,000
      74,751 SF

      5000 Rich Smith Ln

      HIGH-RISE APARTMENTS • 74,751 SF
      5000 Rich Smith Ln, Searcy, AR 72143-8033
      View Details
    • Value Estimation
      $320,000
      4,440 SF

      100 Vine Ave

      HIGH-RISE APARTMENTS • 4,440 SF
      100 Vine Ave, Searcy, AR 72143-4228
      View Details
    • Value Estimation by Request
      15.00 Acres

      198 Oak Forrest Rd

      Multifamily properties • 15.00 Acres
      198 Oak Forrest Rd, Searcy, AR 72143
      View Details
    • Value Estimation by Request
      9.32 Acres

      398 Eastline Rd

      Multifamily properties • 25,000 SF
      398 Eastline Rd, Searcy, AR 72143
      View Details

    Similar Nearby for Sale

    • $3,366,000
      54,206 SF

      Remodeled Apartment Community in Searcy

      A Class apartment community, fully remodeled in 2019, stabilized rent.
      300 W Pleasure Ave, Searcy, AR 72143
      View Details
    • $1,070,000
      6,762 SF

      New Construction Triplexes and Duplex

      New construction triplexes and duplex near schools and city conveniences.
      508 N Oak St, Searcy, AR 72143
      View Details
    • $1,128,000
      11,648 SF

      Searcy, AR Apartment Investment

      16-unit apartment complex in Searcy, Arkansas with recent updates.
      32 Stoneybrook Ln, Searcy, AR 72143
      View Details
    • $1,200,000
      15,048 SF

      Searcy Apartments: Investment Opportunity

      16-unit apartment complex in Searcy, AR with stable cashflow.
      28 Stoneybrook Ln, Searcy, AR 72143
      View Details
    • $580,000
      7,656 SF

      Remodeled Apartment Complex in Searcy

      Remodeled 8-unit apartment complex with stable cash flow potential.
      42 Stoneybrook Ln, Searcy, AR 72143
      View Details
    • $2,870,000
      48,962 SF

      Stoneybrook Apartments Portfolio

      54-unit apartment portfolio with value-add potential in Searcy, Arkansas.
      Stoneybrook Ln, Searcy, AR 72143
      View Details

    Similar Nearby for Lease

    • $325,000
      3,850 SF

      Searcy Airport Hangar for Lease

      New, insulated airplane hangar at Searcy Municipal Airport.
      2609 S Main St, Searcy, AR 72143
      View Details
    • $3,750 /Mo
      2,500 SF

      Retail Space Near Harding University

      2300 SF retail space with high visibility frontage.
      1629 E Beebe Capps Expy, Searcy, AR 72143
      View Details
    • Contact for pricing
      800 SF

      Searcy Office Space For Rent

      Office space with easy access and high traffic count.
      403 S Poplar St, Searcy, AR 72143
      View Details
    • $4 SF/Yr
      105,000 SF

      Industrial Property for Lease

      Spacious industrial property suitable for warehouse, manufacturing, and distribution.
      207 Queensway St, Searcy, AR 72143
      View Details
    • $14 SF/Yr
      30,000 SF

      Searcy Retail Space: 30,000 SF

      Prime Searcy retail space, high traffic area.
      101 Poplar St, Searcy, AR 72143
      View Details
    • $12 SF/Yr
      6,300 SF

      Searcy Medical Office Space

      Prime Medical/Office Building, 6,300 SF
      1602 Booth Rd, Searcy, AR 72143
      View Details
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    507 Spg St
    Searcy, AR 72143-4218
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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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