899 Park AveHot Springs, AR 71901

Property Details for 899 Park Ave

Year built

1960

Lot size

0.68 AC

Property size (Sq ft)

11,700 SF

Property type

Outlet malls

APN

400-46980-001-000C

APU

40046980001000C

Description

This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar convenience store located at 899 Park Ave, Hot Springs, AR 71901. The 11,830 square foot building, constructed in 1960 and situated on a highly visible lot on Park Avenue, boasts 100% occupancy with a strong, established tenant. Family Dollar has occupied the property since August 7, 2003, and the current lease has four years remaining, with two additional five-year lease options featuring rent bumps at each renewal. The property generates a substantial net operating income (NOI) of $63,985, resulting in an attractive 6.75% cap rate. The asking price is $947,933, making this a compelling proposition for investors seeking a stable, high-yield retail asset. The property benefits from a recent roof replacement and is situated in a densely populated area with a five-mile population of 36,006 and a five-mile household income of $57,992. This presents a rare opportunity to acquire a well-established, income-producing retail property in a desirable location. The property is offered as a 1031 exchange opportunity. This is a gross lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,499,268

  6.5%

  $1,383,940

  7%

  $1,285,087

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,108,990

  Geo Method

  $2,108,990

• Alternative Use

  Use

  Valuation

  Residential

  $1,167,405

  Hospitality

  $1,069,337

  Educational

  $889,676

  Medical

  $920,273

  Retail

  $1,383,940

Location Insight

City

Hot Springs

County

Garland

State

Arkansas

Latitude

34.5307

Longitude

-93.0486

CBSA code

26300

CBSA name

HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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