937 1St StStephens, AR 71764

Property Details for 937 1St St

Year built

1970

Lot size

1.92 AC

Property size (Sq ft)

5,040 SF

Property type

Retail properties

Property subtype

Other retail properties

APN

998-00007-100C

APU

99800007100C

Description

This 5,040-square-foot retail property, located at 937 N 1st St, Stephens, AR 71764, presents a unique investment opportunity. Built in 1970, this single-story building previously operated as a successful grocery store for many years. However, due to mismanagement and disrepair, it is now being sold in its current "as-is" condition. The asking price is $70,000, translating to $13.89 per square foot. The property requires significant renovations, including exterior and roof repairs, and mold remediation. The entire 5,040 square feet is net rentable. Despite its current condition, the property's size and location in Ouachita County, Arkansas, offer considerable potential for redevelopment. It could be restored to its former use as a commercial enterprise, or repurposed for alternative uses, potentially including residential conversion. This distressed sale presents a chance to acquire a substantial property at a significantly reduced price, allowing for substantial value creation through renovation and repositioning. The property's history as a thriving grocery store demonstrates the inherent viability of the location. Investors seeking a value-add project with high upside potential should seriously consider this opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,177,429

  6.5%

  $1,086,858

  7%

  $1,009,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,857,639

  Geo Method

  $908,488

• Alternative Use

  Use

  Valuation

  Residential

  $916,805

  Hospitality

  $839,788

  Educational

  $698,694

  Medical

  $722,723

  Retail

  $1,086,858

Location Insight

City

Stephens

County

Ouachita

State

Arkansas

Latitude

33.4201

Longitude

-93.0648

CBSA code

15780

CBSA name

CAMDEN, AR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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