Current Use by Public Records
- Apartment buildings
Property Details for 195 Co Rd
- Lot size
- 1.50 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 20-unit apartment complex in Corning, Arkansas, boasting three all-brick buildings situated on approximately 1.5 acres of land. The property features a strong income stream, with a Net Operating Income (NOI) of $111,385 and a compelling 11.19% capitalization rate. Each of the 20 units underwent recent upgrades in 2024, receiving new mini-split heating and air conditioning units, enhancing tenant comfort and energy efficiency. Further boosting profitability is the inclusion of a coin-operated laundry facility generating additional revenue. The property's strategic location near the future I-57 interstate provides excellent accessibility for commuters, increasing its desirability and long-term value. The asking price is $995,000, translating to $49,750 per unit and $103.30 per square foot of the 9,632 square foot complex. Significant upside potential exists through rent increases and further value-add improvements. An attractive add-on is the availability of an additional approximately one-acre parcel with roughly 240 feet of highway frontage, presenting a prime opportunity for expansion, potentially adding more rental units or accommodating other commercial ventures. This property offers a rare blend of immediate income and substantial future 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
- Corning
- County
- Clay
- State
- Arkansas
- Longitude
- -90.6286
- Latitude
- 36.4107
