103 Millenium Park Dr Bismarck, AR 71929
- Retail properties
- 8,125 SF
- 0.69 lot acres
Current Use by Public Records
- Retail properties
Property Details for 103 Millenium Park Dr
- Lot size
- 0.69 lot acres
- Property size
- 8,125 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a freestanding Dollar General store located at 103 Millennium Park Dr, Bismarck, AR 71929. The 8,125 square foot building sits on a 0.69-acre lot and is currently leased to a credit-rated Dollar General under a Net-Net lease agreement. The lease commenced May 1, 2021, and expires April 30, 2027, with two 5-year renewal options at increasing rental rates. The current monthly rent is $4,200, increasing to $4,600 and then $5,040 upon exercising the renewal options. The property boasts a strong 8.00% cap rate based on a current Net Operating Income (NOI) of $42,000. Significant renovations were completed in 2019, including the installation of two new HVAC systems. The property benefits from its location near Arkansas Highways 7 and 84, and the proximity to DeGray Lake Resort State Park adds to the area's appeal. This is a rare opportunity to acquire a well-maintained, high-performing retail property with a strong tenant and significant upside potential through lease extensions. The asking price is $525,000, representing a price per square foot of $64.62. The property's Class B designation reflects its solid condition and consistent performance.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bismarck
- County
- Hot Spring
- State
- Arkansas
- Longitude
- -93.1691
- Latitude
- 34.3157
