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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

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.
More about this property
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