For Sale
$4,860,000

650 Service RdWest Memphis, AR 72301

Walmart-shadowed, 8-tenant retail center

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional 30,014 square-foot shopping center in West Memphis, Arkansas, presents a compelling investment opportunity. Located directly across from a high-performing Walmart Supercenter with over 2.7 million annual visits, this property boasts excellent visibility and accessibility at the I-40 & I-55 interchange, experiencing over 100,000 vehicles daily. The 100% occupied center features eight tenants, including a mix of national, regional, and local businesses, all operating under triple-net (NNN) leases, ensuring stable and predictable cash flow. Built in 2010, the single-story building sits on a 3.11-acre lot and benefits from staggered lease expirations and rent bumps. The diverse tenant mix includes restaurants, telecommunications, and apparel businesses. The property's strategic location, less than 10 miles from downtown Memphis, TN, and near major amenities, further enhances its value. With a 9.00% cap rate and a current NOI of $437,198, this stabilized, multi-tenant retail investment offers significant potential for future growth, particularly given that some tenants are currently paying below-market rents. The asking price is $4,860,000. This is a rare opportunity to acquire a dominant retail center in a thriving market.

Highlights

  • $4,860,000 asking price for a stabilized, multi-tenant retail shopping center.
  • 30,014 square feet on a 3.11-acre lot, with a $161.92 price per square foot.
  • 9.00% cap rate, 100% occupancy, and a Net Operating Income (NOI) of $437,198.
  • Eight tenants, including AT&T, on NNN leases with rent bumps, located in a Walmart shadow-anchored position.
  • Excellent visibility and access at the I-40 & I-55 interchange, with over 100,000 vehicles per day.
  • Located less than 10 miles from Downtown Memphis, near Baptist Memorial Hospital and Southland Casino & Hotel.

Property Details for 650 Service Rd

Property type
Lifestyle centers, Power centers
Square Feet
30,014 SF
Year Built
2010
Buildings
1
Stories
1
Lot Size (sq. ft)
135,472 SF
Units
8

Location Insight

City
West Memphis
County
Crittenden
State
Arkansas
Latitude
35.16746517
Longitude
-90.19911552
650 Service Rd, West Memphis, Arkansas

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650 Service Rd
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