201 1St AveCrossett, AR 71635

Property Details for 201 1St Ave

Year built

1990

Lot size

0.65 AC

Property size (Sq ft)

2,614 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

706-00117-000

APU

70600117000

Description

This exceptional investment opportunity presents a vacant 2,614 square foot former Kentucky Fried Chicken restaurant situated on a 0.65-acre lot at 201 E 1st Ave, Crossett, AR 71635. Built in 1990, this single-story building offers a ready-made space for a quick-service restaurant or other suitable business. The property is located in Crossett, Arkansas, the largest city in Ashley County, boasting a population exceeding 10,752 residents. The area benefits from the presence of major employers like Georgia-Pacific Corporation and Georgia Pacific Resins Corporation, employing over 660 people. Crossett's low cost of living makes it an attractive location, further enhanced by a pleasant climate. Educational institutions such as UAM College of Technology-Crossett and the University of Arkansas are nearby, along with Ashley County Medical Center. Recreational opportunities abound with the Felsenthal National Wildlife Refuge, a mere 8-mile drive, offering 76,000 acres of natural beauty. Several apartment complexes, including Oakhurst, Village Creek, and Turtle Creek Apartments, are also conveniently located nearby, providing a substantial residential base. The asking price is $500,000, translating to $191.28 per square foot. This fee-simple ownership opportunity is ideal for an owner-user investor seeking to establish or relocate their business in a thriving community. The property's previous use as a Kentucky Fried Chicken restaurant, a globally recognized brand, speaks to its established viability and potential for future success.

• CAP approach

  CAP return

  Valuation

  6%

  $610,641

  6.5%

  $563,669

  7%

  $523,407

• Comparable approach

  Method

  Valuation

  Relative Method

  $502,484

  Geo Method

  $471,188

• Alternative Use

  Use

  Valuation

  Residential

  $475,476

  Hospitality

  $435,533

  Educational

  $362,358

  Medical

  $374,820

  Retail

  $563,669

Location Insight

City

Crossett

County

Ashley

State

Arkansas

Latitude

33.135

Longitude

-91.9598

Property Tax & Assessments

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