23Rd St Rogers, AR 72756

Property Details for 0 23Rd St

Lot size

2.15 lot acres

Property size

93,932 SF

Property type

Land

Property subtype

Industrial properties

Description

This exceptional 2.15-acre commercial lot presents a unique investment opportunity in the thriving city of Rogers, Arkansas. Strategically located between downtown Rogers and Interstate 49, this property boasts unparalleled accessibility and visibility. The lot is conveniently situated off Highway 102/Hudson, offering easy access to major transportation routes. Its proximity to a healthcare center further enhances its appeal. The property's dimensions are substantial, measuring 209 feet on the south end and 302 feet on the east side, encompassing a total of 93,932 square feet. Currently zoned C-2, the property is poised for significant development potential with the upcoming T5.2 - Town Center Medium zoning designation. This allows for a buildable space of up to 750,000 square feet, with a maximum building height of eight stories. The property's flat terrain simplifies construction, and its central location offers proximity to both downtown Rogers (3.4 miles) and downtown Bentonville (4.8 miles). The asking price of $699,000 represents a compelling value at $7.50 per square foot, considering the property's size, location, and future development potential. A feasibility study suggests a potential gross annual revenue of $5.58 million with a 120-room hotel at a modest $200 per night, based on a national average occupancy rate. This translates to a potential net operating income (NOI) of approximately $840,000. This is a rare opportunity to acquire a cleared and undeveloped lot in a rapidly growing area with exceptional potential for high returns. The property's location and zoning make it ideal for a variety of commercial developments.

Location Insight

City

Rogers

County

Benton

State

Arkansas

Longitude

-94.1495

Latitude

36.3566