600 Skyline DrConway, AR 72032

Property Details for 600 Skyline Dr

Year built

2000

Lot size

1.99 AC

Property size (Sq ft)

8,364 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

710-08187-001C

APU

71008187001C

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Marketplace Grill restaurant in Conway, Arkansas. The property boasts a 6,364 square foot building situated on a 3.67-acre lot, with an additional 1.68 acres available for future development. The current tenant, Marketplace Grill, operates under a triple-net (NNN) lease with a corporate guarantee, commencing November 13, 2018, and expiring July 1, 2032. This lease includes three renewal options and features a 1% annual rent increase. The property generates a substantial net operating income (NOI) of $223,865, resulting in a compelling 6.58% cap rate. The restaurant has a proven track record, reporting $2.49 million in sales during fiscal year 2023 and enjoying over 25 years of operation at this location. Its prime location on Skyline Drive, a major retail artery with over 31,000 vehicles daily, places it within a thriving retail corridor alongside prominent national brands such as Walmart, Lowe's, Cinemark, Starbucks, and Harbor Freight. The property's strategic position benefits from Conway's robust population growth (nearly 10% in the last decade) and high consumer spending on food and alcohol ($100M within a 3-mile radius). A recently signed long-term billboard lease adds further income potential. The asking price for this exceptional property is $3,400,000. The property's APN is 71008187001C.

Location Insight

City

Conway

County

Faulkner

State

Arkansas

Latitude

35.113

Longitude

-92.4333

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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