6837 Midway Ar Gassville, AR 72651

Property Details for 6837 Midway Ar

Year built

1999

Lot size

14.08 lot acres

Property size

32,000 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a three-building industrial portfolio totaling 32,000 square feet situated on approximately 14.08 acres in Midway, Arkansas. The property, comprised of three parcels (APN: 001-09394-114,115,211), is zoned S1-S2-C-1 and features a mix of warehouse and distribution space. Built between 1999 and 2000, the portfolio includes a 19,000 square foot flex building currently leased to EZ Loader manufacturing, whose lease was recently renewed on January 1st, 2024, for a two-year term with a 6% rent bump at each two-year renewal. An adjacent 10,000 square foot metal building houses a month-to-month tenant. A third building, a 4,000 square foot prefabricated flex building, contains two smaller month-to-month tenants. The current Net Operating Income (NOI) is $67,003, yielding an 8.59% cap rate, while the pro-forma NOI is $104,612, resulting in a 13.41% pro-forma cap rate. The asking price for the entire assemblage is $780,000. The property benefits from its location near the county airport and the Bass Cat facility, offering potential for future development. While the seller prefers offers on the entire assemblage, individual parcel purchases will be considered. Note that EZ Loader holds a 10-day right of first refusal on all offers. Lease options include two additional renewals.

Location Insight

City

Gassville

County

Baxter

State

Arkansas

Longitude

-92.4614

Latitude

36.3728