Outpatient Medical Facility For
2906 Market St, Pine Bluff, AR 71601
Outpatient medical facility leased to the Department of Veterans Affairs.
Type:Office
Property size:
9,900 SFPrice / SF:
$174/SF- Added:
- Mar 28, 2022
- Days on Market:
- 1518
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 2906 Market St
General Information
- Standard status
- Active
- Size
- 9,900 SF
- Property subtype
- Office
Building Details
- Year Built
- 2020
Listing agent Garrett McPherson License #AR EB00072456
Listing office Legacy Realty Group
Listing date Mar 28, 2022
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 Legacy Realty Group
HighLights
- 100% leased to the Department of Veterans Affairs (VA)
- Guaranteed by the United States Government (GSA)
- Six (6) years remaining on a Ten (10) year lease
- Limited competition: Only VA clinic within 45 miles
- Built in 2020
- Located 40 minutes from Little Rock, Arkansas
Overview
An outpatient medical facility leased to the Department of Veterans Affairs is available for purchase in Pine Bluff, Arkansas. The property is fully leased with six years remaining on a ten-year lease. The VA clinic is located approximately 40 minutes from Little Rock, the capital city of Arkansas. The property benefits from a long lease term, with six years remaining on a firm ten-year government-backed lease that has no termination options. The tenant is guaranteed by the United States Government, General Services Administration (GSA). The property serves as a regional outpatient clinic and is the only VA clinic within a 45-mile radius. Almost 25% of the U.S. population is potentially eligible for V.A. benefits and services because they are veterans, family members, or survivors of veterans. Pine Bluff is the 10th largest city in the state of Arkansas with almost 45,000 people and a land mass of 46 square miles. Located in Jefferson County, Pine Bluff is in the heart of the Arkansas River Basin, an area known for its agriculture, including cotton, soybeans, and rice. The area also features the Saracen Casino and Resort, a development that cost over $350 million and employed over 1,000 people. The property size is 9,900 square feet.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.48M
NOI $133,413 @ 9.00% cap · cautious / downside scenario
Moderate
$1.91M
NOI $133,413 @ 7.00% cap · market / base-case scenario
Aggressive
$2.67M
NOI $133,413 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.8k | $20.28 |
| − Vacancy | −$22.9k | −$2.31 |
| EGI | $177.9k | $17.97 |
| − OpEx | −$44.5k | −$4.49 |
| NOI | $133.4k | $13.48 |
9,900 SF · lease $20.28/SF/yr · vacancy 11.40% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.91M
$1.67M – $2.22M
NOI $133,413 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$1.90M
$1.67M – $2.22M
NOI $133,255 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,673 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Pine Bluff VA ...
Medical Clinic
Bryan Raymundo
Pediatrician
Dana Strickland
Pharmacy
Location Insight
- Map
- Local Demand
- City
- Pine Bluff
- County
- Jefferson
- State
- Arkansas
- Longitude
- -91.969308
- Latitude
- 34.213829
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Outpatient medical facility leased to the Department of Veterans Affairs.
Where is this medical office space located?
The property is located at 2906 Market St Pine Bluff, AR.
What is the asking price?
The asking price for this property is $1,724,690.
What are key features of this property?
This property features: 100% leased to the Department of Veterans Affairs (VA); Guaranteed by the United States Government (GSA); Six (6) years remaining on a Ten (10) year lease
