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    2406 Hervey St Hope, AR 71801

    Sponsored
    For Sale
    $1,250,000

    Successful Mexican Restaurant, High-Traffic Area

    Property size:
    4,684 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This thriving Mexican restaurant in Hope, Arkansas, presents a unique investment opportunity. Located at 2406 N Hervey St, this 4,684 square foot establishment sits on a 1.04-acre lot and enjoys a prime location next to a Walmart Supercenter. The property's high visibility is further enhanced by its proximity to other major businesses including Hampton Inn & Suites, Chicken Express, McDonald's, Taco Bell, and Burger King, ensuring consistent foot traffic and brand recognition. The restaurant boasts a strong sales history, generating $1,400,000 in revenue in 2019 and $1,200,000 in 2021. Note that the 2021 sales figures reflect a five-week closure due to COVID-19 and vacation time. The asking price is $1,250,000, translating to $266.87 per square foot. This is a NNN lease property, offering a single tenancy. The property's size and location make it an ideal investment for experienced restaurateurs or those seeking a profitable venture in a high-demand area. The strong existing brand and loyal customer base provide a solid foundation for continued success and growth. This is a turnkey operation ready for a new owner to step in and continue the legacy. The property is located in Hempstead County, Arkansas, zip code 71801.

    Property Features for 2406 Hervey St

    General Information

    Property type
    Restaurants
    Square Feet
    4,684 SF
    Lot Size
    45,302 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Dos Loco Gringos Mexican Restaurant

    Suggested Use

    Restaurant Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Clothing Store Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope
    County
    Hempstead
    State
    Arkansas
    Longitude
    -93.6139247
    Latitude
    33.682814

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    FAQs

    What type of property is this?
    Restaurant - Successful Mexican Restaurant, High-Traffic Area
    Where is this restaurant located?
    The property is located at 2406 Hervey St Hope, AR.
    What is the asking price?
    The asking price for this property is $1,250,000.
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    2406 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
    2406 Hervey St Hope, AR 71801
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