905 Oak St Conway, AR 72032-4715

Property Details for 905 Oak St

Year built

2005

Lot size

0.48 lot acres

Property size

1,947 SF

Property type

Drive through restaurants

APN

710-07991-001

APU

71007991001

Description

This exceptional investment opportunity presents a 1,947 square foot Starbucks located at 905 E Oak St, Conway, AR 72032. The property sits on a 0.48-acre lot and boasts a triple net (NNN) lease with a corporate guarantee, ensuring minimal landlord responsibilities. The current lease, commencing March 1, 2006, and expiring February 28, 2036, has a remaining term of 11.3 years, providing significant long-term stability. Four five-year lease options further enhance the investment's longevity. Built in 2005, this strategically positioned Starbucks benefits from a hard signalized corner location with high visibility and multiple points of ingress and egress, experiencing over 30,000 vehicles per day. The property's strong performance is reflected in its 100% occupancy and a Net Operating Income (NOI) of $108,570, yielding a 5.15% cap rate. The asking price is $2,108,100, translating to $1,082.74 per square foot. Conway's robust growth, including a 61% population increase since 2000, and its status as "The City of Colleges," with three universities within two miles, contributes to the property's exceptional potential. The location's proximity to I-40 (52,000+ VPD), less than 30 miles north of downtown Little Rock, and its presence in an excellent growing retail corridor, further solidify its value. The area boasts over 36,500 daytime employees and over $203.5 million in food and beverage consumer spending within a 5-mile radius. The property is also within walking distance of six national hotels. Rent bumps are included in the lease agreement.

Location Insight

City

Conway

County

Faulkner

State

Arkansas

Longitude

-92.4186

Latitude

35.0911

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments