The Cartwright
Income-producing mixed-use property with 15 units and redevelopment potential.
Marketing description
Mixed-use investment opportunity in the heart of Heber Springs. Originally built in 1882, this historic landmark blends timeless character with modern functionality, offering over 7,000 square feet of income-producing space. The property features 15 studio apartments, a fully operational restaurant leased on an annual basis, lounge and common areas, office space, and on-site coin-operated laundry facilities.
With residential occupancy at 100% and established commercial tenancy already in place, this asset provides immediate cash flow while offering future potential. Situated on Main Street within walking distance of shopping, dining, entertainment, and local attractions, the property is ideally positioned to benefit from the area's growing tourism and vibrant downtown atmosphere. Continue operating as a mixed-use investment, expand hospitality, or explore the potential for a boutique hotel. A transferable liquor license is included, creating additional income opportunities.
This property offers residential, hospitality, and commercial income in one of Arkansas's premier lake destinations. An exceptional opportunity for investors seeking both immediate returns and long-term value.
Investment highlights
✅ Multiple Income Streams
15 occupied studio apartments
Established restaurant tenant with annual lease
Coin-operated laundry income
Potential event, hospitality, or lounge revenue
Transferable liquor license included
✅ 100% Residential Occupancy
Immediate cash flow from day one
Reduced lease-up risk
Demonstrates strong rental demand in downtown Heber Springs
✅ Historic Downtown Location
Located on Main Street in the heart of downtown Heber Springs
Walkable to restaurants, shopping, entertainment, and community events
High visibility and strong local presence
✅ Tourism-Driven Market
Minutes from Greers Ferry Lake
Near Little Red River
Benefits from year-round tourism, fishing tournaments, boating, and outdoor recreation
Growing demand for short-term lodging options
✅ Value-Add Potential
Opportunity to increase rents over time
Potential boutique hotel, extended-stay lodging, or hospitality conversion (subject to approvals)
Additional commercial or event space opportunities
Historic character difficult to replicate today
✅ Diversification Reduces Risk
Residential income offsets commercial vacancy risk
Commercial income supplements apartment revenue
Multiple tenants rather than relying on a single occupant
✅ Historic Asset
Originally built in 1882
Unique architectural character
Landmark presence in downtown
Attractive to hospitality and destination-focused investors
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