1600 Broadway AveWest Memphis, AR 72301

Property Details for 1600 Broadway Ave

Year built

1988

Lot size

1.47 AC

Property size (Sq ft)

6,056 SF

Property type

Retail properties

Property subtype

Other retail properties

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.

Location Insight

City

West Memphis

County

Crittenden

State

Arkansas

Latitude

35.1471

Longitude

-90.1648

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