885 Miller Dr Walnut Ridge, AR 72476
- Industrial properties
- 24,000 SF
Current Use by Public Records
- Castino Industries / Plastic Fabrication Company
Property Details for 885 Miller Dr
- Property size
- 24,000 SF
- Property type
- Industrial properties
- Property subtype
- Manufacturing properties
Description
This exceptional 24,000 square foot manufacturing facility in Walnut Ridge, Arkansas, presents a compelling investment opportunity. Located at 885 S Miller Dr, 72476, this property boasts a strong 9-year lease with Castino Industries, a subsidiary of PhilPott Solutions, a company with a century-long operational history. The lease guarantees a substantial net operating income (NOI) of $124,000 annually, with attractive 3% annual rent bumps, ensuring consistent income growth. The property's 8.03% cap rate significantly outperforms market averages. A recent appraisal valued the property above the asking price of $1,545,000. The strategic location, within two miles of Walnut Ridge Regional Airport, and the absence of comparable industrial vacancies in the area, underscore the property's exceptional stability and potential for long-term appreciation. Furthermore, the property includes excess land, providing opportunities for future expansion, whether for additional building space or enhanced parking. The strong local workforce further secures the tenant's commitment to this location. Local financing options are available to facilitate a smooth acquisition process. This is a rare opportunity to acquire a high-performing, stable industrial asset with significant upside potential.
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
- Walnut Ridge
- County
- Lawrence
- State
- Arkansas
- Longitude
- -90.9387
- Latitude
- 36.1055
