201 E Main - Hospitality FOR SALE


Heber Springs, AR 72543
$840,000 USD
479-633-3847
201 E Main, Heber Springs, AR for Sale
$840,000 USD
Hospitality - FOR SALE
1/38
null | 7.38% Cap Rate

201 E Main
Heber Springs, AR 72543


HIGHLIGHTS

  • Main Street frontage.

OVERVIEW

Welcome to The Cartwright Inn! This is a prime 15-unit residential studio apartment complex and commercial space. A local award-winning Mexican restaurant occupies the commercial space, providing stady rental income. The property holds its own liquor license, generating an additional $84,000 in alcohol sales revenue in 2024. With the inclusion of alcohol sales, there is an opportunity to significantly boost overall income. All 15 units, commercial space, and lounge completely renovated in 2023. All units have been outfitted with Schlage locks (controlled by app). All units are 1 bed 1 bath. There are 7 upstairs smaller units, 8 exterior first floor units, a large lounge area. Amenities include on-site laundry, parking , rooms are furnished and upstairs units have a shared kitchenette. Part of the Heber Springs Commercial Historic District, this area encompasses the eary commercial heart of Heber Spring, featuring a diversity of commercial architecture from the late 19th and early 20th centuries. The Cartwright Inn is located in th heart of Downtown Heber Springs, AR ar 201 E Main St. directly across street from Spring Parek and three blocks East of County Court House. See note from owners in attachments

FOR SALE DETAILS

PRICE

$840,000 USD

PRICE/SF

$156 USD /SF

# OF ROOMS

15

PRICE/ROOM

$56,000 {currency}

CAP RATE

7.38%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Cartwright House

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1882

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,352 SF

ZONING

C1

APN/PARCEL ID

300-00259-000-C

ASK ABOUT THIS PROPERTY

Roger ReithemeyerKeller Williams Market Pro RealtyMore Info
479-633-3847

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Roger ReithemeyerKeller Williams Market Pro RealtyMore Info
479-633-3847

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.