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    503 N Hervey St Hope, AR 71801

    For Sale
    $3,125,000

    Neighborhood shopping center with national and local tenant mix.

    Property size:
    90,017 SF
    Lot size:
    8.21 Acres

    Property Features for 503 N Hervey St

    General Information

    Size
    90,017 SF
    Lot size
    8.21 Acres

    Source: STRIVE Agent Braden Bratcher

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

    Overview

    Value-Add Neighborhood Shopping Center

    This neighborhood shopping center is anchored by Harbor Freight, Dollar General, and Pafford EMS, along with Chinese Panda Buffett. The property is currently 77% occupied, presenting opportunities to increase revenue by leasing the 23% vacant gross leasable area. The center is positioned fronting N Hervey St, less than 1-mile from Interstate 30, with visibility to over 77,000 vehicles per day. New 10-year leases are in place for Harbor Freight and Dollar General, accompanied by renovations to both spaces. The property offers flexible space configurations and ample parking for tenants and customers. Situated on 6.39 acres in Hope, the shopping center has a large gross leasable area. Harbor Freight, Dollar General, and Pafford EMS have invested capital into renovations, indicating a long-term commitment to the shopping center. The landlord has also invested capital over the past 2 years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dollar General Dollar Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Similar Places Nearby

    North Hervey Street Shopping Center, Expo Shopping Center

    Location Insight

    • Map
    • Local Demand
    City
    Hope
    County
    Hempstead
    State
    Arkansas
    Longitude
    -93.595403
    Latitude
    33.66351

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    FAQs

    What type of property is this?
    Shopping center - Neighborhood shopping center with national and local tenant mix.
    Where is this shopping center located?
    The property is located at 503 N Hervey St Hope, AR.
    What is the asking price?
    The asking price for this property is $3,125,000.
    What are key features of this property?
    This property features: - Value-add opportunity with immediate income (7.00% cap rate) and significant upside potential through lease-up of 23% vacancy (pro-forma 12.07% cap).; - Anchored by new Harbor Freight and Dollar General with 10-year leases, plus Pafford EMS and a local restaurant.; - Excellent visibility and access, fronting N Hervey St, less than 1-mile from Interstate 30, with over 77,000 vehicles per day.
    (469) 844-8880
    Request Owner's contact information
    503 N Hervey St Hope, AR 71801
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    Hope, AR 71801
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    503 N Hervey St Hope, AR 71801
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