Located in the heart of downtown Heber Springs, this income-producing mixed-use property offers a rare combination of historic character, stable cash flow, and value-add potential. Originally constructed in 1882, the property encompasses over 7,000 square feet and features 15 fully occupied studio apartments, a restaurant leased on an annual basis, office space, common areas, and on-site coin-operated laundry facilities.

With residential occupancy at 100% and an established commercial tenant already in place, the property provides immediate income while offering opportunities to increase NOI through additional commercial leasing and operational efficiencies. The property's historic charm, downtown location, and diverse income streams create an attractive investment opportunity for multifamily and mixed-use investors alike.

Current operations generate consistent cash flow, while the property's additional leasable space presents a clear path for future revenue growth. Conveniently located within walking distance of local shopping, dining, and community amenities, this is a unique opportunity to acquire a landmark asset in one of Arkansas's most desirable lake communities.

Current NOI approximately $44,800, representing a 5.8% cap rate at the $775,000 asking price. Adjusted NOI approximately $64,700 (8.3% cap rate) after normalizing one-time expenses. Pro forma NOI projected at approximately $75,000, resulting in a projected 9.7% cap rate through additional commercial lease income and operational efficiencies. Detailed financials available to qualified buyers upon execution of an NDA.