2000 Race AveSearcy, AR 72143

Property Details for 2000 Race Ave

Year built

1965

Lot size

3.80 AC

Property size (Sq ft)

24,768 SF

Property type

Auto shops

APN

016-10489-000

APU

1610489000

Description

This exceptional commercial property, located at 2000 E Race Ave in Searcy, Arkansas, presents a unique investment opportunity. The property consists of two single-story buildings totaling 24,768 square feet situated on a generous 3.8-acre lot. Currently vacant, the space is ideally suited for a variety of retail uses, particularly automotive showrooms or dealerships, given its existing infrastructure. Built in 1965 and renovated in 1996, the property features a spacious showroom area, ample office space, and a substantial warehouse component equipped with 12 convenient roll-up doors. The property enjoys a highly visible location on a major arterial road, experiencing approximately 19,000 vehicles per day, ensuring significant exposure to potential customers. Its strategic position within Searcy places it amongst established local and national retailers and medical facilities, offering excellent accessibility and high traffic volume. Furthermore, its proximity to Highway 67 and Harding University enhances its appeal and accessibility. The property is zoned C-4 and is available for purchase at $5,300,000 or for lease at a rate of $16.95 per square foot, triple net (NNN). This presents a compelling opportunity to capitalize on the growth and development within this thriving market, characterized by recent expansions of national retailers. The property's size, location, and versatility make it an attractive proposition for discerning investors and businesses seeking a prominent presence in Searcy, Arkansas. The zip code is 72143, and the property is located in White County.

• CAP approach

  CAP return

  Valuation

  6%

  $4,115,450

  6.5%

  $3,798,880

  7%

  $3,527,530

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,008,150

  Geo Method

  $2,008,150

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $7,444,000

  Mixed-Use / Specialty

  $3,770,860

  Hospitality / Lodging

  $2,747,720

  Office

  $3,733,380

  Institutional / Educational

  $3,915,000

  Residential Income

  $4,580,550

  Multifamily

  $5,573,910

  Automotive / Energy

  $3,355,720

  Parking / Income-Based Land

  $1,172,320

  Restaurant / Food Service

  $1,930,360

  Healthcare / Senior Housing

  $3,881,790

Location Insight

City

Searcy

County

White

State

Arkansas

Latitude

35.2514

Longitude

-91.7147

CBSA code

42620

CBSA name

SEARCY, AR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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