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    510 Madison Ave Berryville, AR 72616
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    Property profile & analytics

    510 Madison Ave Berryville, AR 72616

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    • Warehouses
    • 16,404 SF
    • 0.97 lot acres
    For Sale
    $899,999
    View Listing →
    Berryville, AR Special Purpose Property For Sale
    $899,999
    16,404 SF

    Berryville, AR Special Purpose Property

    Unique 16,404 SF Multi-Use Building

    Grandview, AR 72616
    View Listing
    Property ID
    US05-1079636
    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

    • Warehouses

    Property Details for 510 Madison Ave

    Year built
    1980
    Lot size
    0.97 lot acres
    Property size
    16,404 SF
    Property type
    Warehouses
    APN
    875-00614-000
    APU
    87500614000

    Description

    This exceptional 16,404 square foot special purpose property located at 510 E Madison Avenue in Berryville, Arkansas, presents a remarkable investment opportunity. The building offers a versatile layout ideal for a variety of uses. A significant portion of the property, approximately 2,600 square feet, is currently configured as a stunning residence featuring three bedrooms, two bathrooms, a large custom kitchen, and two living areas sharing a fireplace. Original wood floors and ceilings add to the home's character and charm. High-end finishes and meticulous attention to detail are evident throughout this unique space. Beyond the residential area, the property includes a magnificent sanctuary complete with a stage, choir balcony, bride's rooms, and a baptismal tub. This area is perfectly suited for religious services, weddings, or numerous other events. A large fellowship hall with five bathrooms and a kitchen provides ample space for gatherings. The property also boasts a spacious basement, offering significant potential for additional development, such as office space, a gym, a media room, or any combination thereof. The property is listed at $899,999 and is situated in Carroll County, Arkansas, with a zip code of 72616. Professional photographs will be available soon. This property offers a rare blend of residential and commercial potential, making it an attractive investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $739,000
      Market price range: $490k - $1.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $835,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Berryville
    County
    Carroll
    State
    Arkansas
    Longitude
    -93.5638
    Latitude
    36.3658

    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
    $5,591
    $19,530
    $91,820
    $111,350
    -
    $97,650
    $459,100
    $556,750

    Comparable in this City

    • Value Estimation by Request
      1,500 SF

      105 Freeman Ave

      WAREHOUSE, STORAGE • 1,500 SF
      105 Freeman Ave, Berryville, AR 72616
      View Details
    • Value Estimation by Request
      6,000 SF

      14344 Hwy 21st S

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      14344 Hwy 21st S, Berryville, AR 72616-9598
      View Details
    • Value Estimation by Request
      3,000 SF

      705 Springfield St

      WAREHOUSE, STORAGE • 3,000 SF
      705 Springfield St, Berryville, AR 72616-3347
      View Details
    • Value Estimation by Request
      1,500 SF

      112 Caddie St

      WAREHOUSE, STORAGE • 1,500 SF
      112 Caddie St, Berryville, AR 72616-4025
      View Details
    • Value Estimation by Request
      10,952 SF

      302 Spaulding Ave

      WAREHOUSE, STORAGE • 10,952 SF
      302 Spaulding Ave, Berryville, AR 72616-3338
      View Details
    • Value Estimation by Request
      5,400 SF

      101 Bunch Spgs Rd

      WAREHOUSE, STORAGE • 5,400 SF
      101 Bunch Spgs Rd, Berryville, AR 72616-4713
      View Details

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      Secluded Land Near Berryville, AR

      80.8 acres of secluded land near Berryville, Arkansas.
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    Berryville, AR 72616
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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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