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501 N Hervey St, Hope, AR, 71801

--beds
0baths
8,400sqft
$1,350,000
$161price/sqft
$10,093/moest. monthly cost
$403,720/yrincome needed

About This Home

Introducing a distinguished and appealing income-producing investment opportunity in the highly sought after commercial district of Hope, AR – a shopping center at 501 North Hervey Street, an address that denotes high visibility and promising potential. Immerse yourself in the bustling commercial brilliance of the North Hervey Shopping Center, a thriving hub for local commerce and retail businesses. This property is entirely leased by three long-term tenants, offering an investor a steady income stream from moment one. A proven asset, this shopping center exudes both stability and growth. The exterior of the building stands out amidst its surroundings, promising an inviting and professional atmosphere. The property has been upheld with meticulous attention, maintaining its appeal through the changing times. It basks in the advantages offered by its premium location, inviting passersby with active pedestrian traffic and serving as a notable landmark in the cityscape. The property has the added benefit of recent improvements, which include a new PVC Membrane Roof, a feature that notably enhances the property's value and durability. Practical and aesthetically appealing, these thoughtful renovations reflect careful thought towards longevity. Enveloped within a vibrant commercial district, the property offers easy access to a myriad of businesses and services, making it a preferred destination for shopping enthusiasts. The shopping center capitalizes on the foot traffic that the area sees on an everyday basis, adding to its income potential. Exuding an ambience of potential and possibilities, 501 North Hervey Street is an investment that reaps rewards in multiples. It is a distinctive property that has been carefully maintained to promote sustained growth through enduring appeal. The combination of high visibility, the promise of steady income, and the premium location make it an exceptionally enticing prospect for the pragmatic investor. In essence, the shopping center at 501 North Hervey Street is more than just a property – it's a thriving commercial kingdom waiting for its next monarch. This is an invitation to own a substantial piece of Hope's pulsating commercial heart. Join the business narrative of Hope, AR, and let your success story unfold.

Getting Around

48
WalkingCar-Dependent
0
TransitVery Limited Transit
45
BikeSomewhat Bikeable

Schools

3/10
4/10
Hope High SchoolGrades 9-121.5 mi

Construction

Type & Style

  • Home type: SingleFamily
  • Property subType: Other

Interior

Interior Area

  • Total structure area: 8,400
  • Total interior livable area: 8,400 sqft

Property

Lot

  • Lot size: 0.35 Acres

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Ice Storm
    Ice StormVery High
  • Lightning
    LightningVery High
  • Tornado
    TornadoVery High
  • Hail
    HailRelatively High
  • Heat Wave
    Heat WaveRelatively High
  • Strong Wind
    Strong WindRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Earthquake
    EarthquakeModerate

How This Home’s Risks Compare

Ice Storm
Lightning
Tornado
Hail
Heat Wave
Strong Wind
Winter Weather
Earthquake

FEMA Declared Disasters Across Arkansas Counties

Flood
Severe Storm
Tornado
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $6,826$81,912
Home Insurance $2,120$25,440
Property Taxes $539$6,468
Electricity $608$7,299
Total$10,093$121,116

Income You'd Need if You Spent...

35% on housing$346,045/yr
40% on housing$302,790/yr
45% on housing$269,146/yr

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 11.0%
11.0%
0%30.0%
Electricity Growth Rate10-year average: 4.3%
4.3%
0%15.0%
Property Taxes Growth Rate2-year average: 15.9%
15.9%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$161This listing

vs Other Active Listings

Avg $/sqft

ZIP 71801$103
Hempstead County$107

vs Homes Sold Last Month

Median $/sqft

ZIP 71801$74
Hempstead County$74

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2025-09-11Listed for sale$1,350,000

For Sale by Agent

AgentJason Edington
BrokerageKeller Williams Realty Little Rock

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