Current Use by Public Records
- Retail properties & Spaces
Property Details for 1111 Us-62
- Lot size
- 1.15 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple, single-tenant retail property occupied by a Beef-A-Roo restaurant. Located at 1111 US-62, Harrison, AR 72601, this 4,005 square foot building sits on a 1.15-acre lot and boasts excellent visibility on US Highway 62, experiencing over 25,000 cars daily. The property underwent renovations in 2023. A new 20.1-year absolute NNN lease commenced October 24, 2022, and expires November 30, 2042, leaving a substantial 18-year remaining lease term. The lease includes 2% annual rent increases, protecting against inflation. The tenant is responsible for all property taxes, insurance, and capital expenditures, including roof, structure, and HVAC. The asking price is $2,805,000, representing a price per square foot of $700.37 and a 9.00% cap rate based on a current Net Operating Income (NOI) of $252,450. The lease includes four, five-year renewal options. The lease is personally guaranteed by an individual with a net worth exceeding $60 million. The property benefits from a strong demographic profile, serving a 10-mile population of 30,325 with an average household income of $65,476. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term growth potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Harrison
- County
- Boone
- State
- Arkansas
- Longitude
- -93.1266
- Latitude
- 36.2597
