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    Prime Retail Space I-57 Searcy Title is generated by Realmo AI

    101 N Poplar St, Searcy, AR 72143

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    Retail leasing opportunities in re-developed Midtown @ I-57 shopping center.

    Type:Retail
    Property size:
    30,000 SF
    Added:
    May 31, 2024
    Days on Market:
    736
    Last Refresh:
    May 12 at 10:49 pm

    Property Features for 101 N Poplar St

    General Information

    Standard status
    Active
    Size
    30,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1983

    Spaces For Lease

    at 101 N Poplar St Contact us

    Former Tractor Supply $14/Mo

    Size
    30,000 SF
    Type
    Retail
    Contact us

    Former Big Lots $14/Mo

    Size
    30,000 SF
    Type
    Retail
    Contact us

    PROPOSED +/- 0.81 AC Outparcel $75,000/Mo

    Size
    35,284 SF
    Type
    Retail
    PROPOSED +/- 0.81 AC outparcel; outparcel is also available for sale at $795,000
    Contact us

    NEW CONSTRUCTION Small Shop Lease Space $20/Mo

    Size
    6,000 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Zac Qualls
    Zac Qualls

    Listing agent Zac Qualls License #EB00073816

    Listing office Haag Brown Commercial Real Estate and Development

    Listing date May 31, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Haag Brown Commercial Real Estate and Development

    HighLights

    • Prime retail leasing opportunities in the newly re‑developed Midtown @ I‑57 shopping center.
    • High visibility location along Interstate 57 with over 23,000 cars per day.
    • Direct access from Race St. with over 26,000 cars per day.
    • Home to renowned national brands like Ashley Homestore and JC Penney.
    • Large available spaces: two 30,000 SF big‑box spaces and up to 6,000 SF of small‑shop space.
    • Tenant allowance available for customizing the space.

    Overview

    Prime retail leasing opportunities are available within the newly re-developed Midtown @ I-57 shopping center in Searcy, Arkansas. This retail destination is located along Interstate 57, offering high visibility to over 23,000 cars per day. The established Midtown @ I-57 / Town & Country Plaza is home to national brands like Ashley Homestore, JC Penney, Bath & Body Works, Maurices, Gamble Home, along with Hibbett Sports. With direct access from Race St., one of Searcy's major thoroughfares with over 26,000 cars per day, and exposure to Interstate 57, this plaza ensures brand recognition and foot traffic. Current leasing availability includes the former Tractor Supply big-box space consisting of approximately 30,000 SF and the former Big Lots box consisting of approximately 30,000 SF, along with up to 6,000 SF of adjacent small-shop space that is currently under construction. The center boasts a spacious parking lot to accommodate a high volume of customers. Plans are in progress to modernize and revitalize this section of the shopping center, promising a fresh retail environment for tenants and visitors. A tenant allowance is available to assist in customizing the space to meet Tenant requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Wal-Mart, 3509 E Race Ave, Searcy, AR 72143

    Location Insight

    • Map
    • Local Demand
    City
    Searcy
    County
    White
    State
    Arkansas
    Longitude
    -91.691274
    Latitude
    35.247959

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    FAQs

    What type of property is this?
    Shopping center - Retail leasing opportunities in re-developed Midtown @ I-57 shopping center.
    Where is this shopping center located?
    The property is located at 101 N Poplar St Searcy, AR.
    What is the lease rate?
    The lease rate is $1.72 SF/Yr.
    What are key features of this property?
    This property features: Prime retail leasing opportunities in the newly re‑developed Midtown @ I‑57 shopping center.; High visibility location along Interstate 57 with over 23,000 cars per day.; Direct access from Race St. with over 26,000 cars per day.
    (870) 336-8000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zac Qualls
    Zac Qualls
    Real Estate License ID: EB00073816
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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