601 Emma AveSpringdale, AR 72764

Property Details for 601 Emma Ave

Year built

2001

Lot size

0.46 AC

Property size (Sq ft)

2,685 SF

Property type

Grocery and convenience stores

APN

815-24872-000

APU

81524872000

Description

This exceptional mixed-use property, located at 601 E. Emma Ave, Springdale, AR 72764, presents a compelling redevelopment opportunity within a designated Opportunity Zone. The 2,685 square foot building sits on a 0.46-acre lot with 120 feet of road frontage on Emma Street, just five blocks from Main Street. Currently operating as a convenience store with four gas pumps (upgraded in 2018), the property includes a kitchen space leased for $1,000 per month on a month-to-month basis. Additional income streams are generated from an ATM, Bitcoin ATM, propane sales, and lottery ticket sales (commission-based). The convenience store is also authorized to accept food stamps. The building boasts a new metal roof (2021) and benefits from its location across from and adjacent to new shops and apartments under construction. A city-led roundabout project is slated for completion. The NC2 zoning allows for a minimum 25-foot and maximum 45-foot building height, with a 10-foot maximum setback on the main street and an 85% building requirement. This allows for significant expansion potential, with the possibility of creating 35,000+ square feet of mixed-use space, including underground parking, ground floor retail, residential lofts, and a rooftop bar/cafe. The property's potential for rent-controlled units may qualify for assistance programs. The asking price is $2,150,000 ($800.74 per square foot). This is a unique chance to capitalize on the ongoing revitalization of downtown Springdale.

• CAP approach

  CAP return

  Valuation

  6%

  $344,063

  6.5%

  $317,597

  7%

  $294,911

• Comparable approach

  Method

  Valuation

  Relative Method

  $483,986

  Geo Method

  $483,986

• Alternative Use

  Use

  Valuation

  Residential

  $267,905

  Hospitality

  $245,399

  Educational

  $204,169

  Medical

  $211,191

  Retail

  $317,597

Location Insight

City

Springdale

County

Washington

State

Arkansas

Latitude

36.1846

Longitude

-94.1244

CBSA code

22220

CBSA name

FAYETTEVILLE-SPRINGDALE-ROGERS, AR-MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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