1600 Broadway Ave West Memphis, AR 72301
- Retail properties
- 6,056 SF
- 1.47 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1600 Broadway Ave
- Year built
- 1988
- Lot size
- 1.47 lot acres
- Property size
- 6,056 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 6,056 square foot auto shop in West Memphis, Arkansas, situated on a 1.47-acre lot. The property boasts a strong 7.25% cap rate, generating a net operating income (NOI) of $48,907 annually. Currently operating under a triple-net (NNN) lease with a corporate guarantor, the lease commenced January 1, 2020, and has a remaining term of approximately 3.1 years. The lease includes two five-year renewal options, with rental increases of 8% in the first option and 5% in the second. The tenant, a well-established business with over 154 units, ensures consistent income and minimal landlord responsibilities. Built in 1988, the property offers significant outdoor storage space, adding to its overall value. The below-market rent provides a high degree of replacement potential, making this a resilient investment in a recession-resistant industry. The asking price is $674,579, translating to $111.39 per square foot. This property is an ideal addition to any diversified real estate portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Memphis
- County
- Crittenden
- State
- Arkansas
- Longitude
- -90.1648
- Latitude
- 35.1471
