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Herber Historic Inn 201 E Main 15 Room Hotel Heber Springs, AR 72543 $724,900 ($48,327/Room)
INVESTMENT HIGHLIGHTS
- Transferable liquor license
- All rented units have leases
EXECUTIVE SUMMARY
Welcome to The Cartwright. A former inn built in 1882 that was completely renovated in 2023. The Building has 15 studio apartments, a working restaurant, a lounge and an office that could be rented to generate extra revenue. The apartments are furnished and the upstairs units share a kitchenette. There is onsite coin op laundry that adds to the revenue totals. This property could be easily be turned back into a hotel and operated as such. THE BUILDING ALSO COMES WITH A TRASFERRABLE LIQUOR LICENSE. Located in a dry county this makes the license unmeasurably valuable.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$85,096
|
$15.80
|
| Other Income |
$9,344
|
$1.73
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$94,440
|
$17.53
|
| Taxes |
$4,417
|
$0.82
|
| Operating Expenses |
$48,000
|
$8.91
|
| Total Expenses |
$52,417
|
$9.73
|
| Net Operating Income |
$42,023
|
$7.80
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $85,096 |
| Annual Per SF | $15.80 |
| Other Income | |
|---|---|
| Annual | $9,344 |
| Annual Per SF | $1.73 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $94,440 |
| Annual Per SF | $17.53 |
| Taxes | |
|---|---|
| Annual | $4,417 |
| Annual Per SF | $0.82 |
| Operating Expenses | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $8.91 |
| Total Expenses | |
|---|---|
| Annual | $52,417 |
| Annual Per SF | $9.73 |
| Net Operating Income | |
|---|---|
| Annual | $42,023 |
| Annual Per SF | $7.80 |
PROPERTY FACTS
| Price | $724,900 | Building Size | 5,386 SF |
| Price Per Room | $48,327 | No. Rooms | 15 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1882/2024 |
| Property Subtype | Hotel | Parking Ratio | 2.78/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 0.47 AC | ||
| Zoning | C1 - Central business district | ||
| Price | $724,900 |
| Price Per Room | $48,327 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 5,386 SF |
| No. Rooms | 15 |
| No. Stories | 2 |
| Year Built/Renovated | 1882/2024 |
| Parking Ratio | 2.78/1,000 SF |
| Corridor | Interior |
| Zoning | C1 - Central business district |
AMENITIES
- Balcony
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Destination Resort
- Boutique/Lifestyle Hotel
- Bed & Breakfast
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 15 | $85.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 300-00259-000-C | Total Assessment | $60,448 (2024) |
| Land Assessment | $8,000 (2024) | Annual Taxes | $4,417 ($0.82/SF) |
| Improvements Assessment | $52,448 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
300-00259-000-C
Land Assessment
$8,000 (2024)
Improvements Assessment
$52,448 (2024)
Total Assessment
$60,448 (2024)
Annual Taxes
$4,417 ($0.82/SF)
Tax Year
2025
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VIDEOS
MATTERPORT 3D EXTERIOR
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STREET VIEW
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Presented by
Arkansas Vacation Rental Property Mgmt
Herber Historic Inn | 201 E Main
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