899 Park Ave Hot Springs, AR 71901-3004
- Outlet malls
- 11,700 SF
- 0.68 lot acres
Current Use by Public Records
- Family Dollar / Discount Supermarket / School Supply Store
Property Details for 899 Park Ave
- Year built
- 1960
- Lot size
- 0.68 lot acres
- Property size
- 11,700 SF
- Property type
- Outlet malls
- APN
- 400-46980-001-000C
- APU
- 40046980001000C
Description
This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar convenience store located at 899 Park Ave, Hot Springs, AR 71901. The 11,830 square foot building, constructed in 1960 and situated on a highly visible lot on Park Avenue, boasts 100% occupancy with a strong, established tenant. Family Dollar has occupied the property since August 7, 2003, and the current lease has four years remaining, with two additional five-year lease options featuring rent bumps at each renewal. The property generates a substantial net operating income (NOI) of $63,985, resulting in an attractive 6.75% cap rate. The asking price is $947,933, making this a compelling proposition for investors seeking a stable, high-yield retail asset. The property benefits from a recent roof replacement and is situated in a densely populated area with a five-mile population of 36,006 and a five-mile household income of $57,992. This presents a rare opportunity to acquire a well-established, income-producing retail property in a desirable location. The property is offered as a 1031 exchange opportunity. This is a gross lease.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $245,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $343,000
Market price range: $335k - $1.26M
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Location Insight
- Map
- Local Demand
- City
- Hot Springs
- County
- Garland
- State
- Arkansas
- Longitude
- -93.0486
- Latitude
- 34.5307
- CBSA code
- 26300
- CBSA name
- HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA
