3224 Mcray AveSpringdale, AR 72762

Property Details for 3224 Mcray Ave

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

2,400 SF

Property type

Retail properties

Property subtype

Auto shops

APN

815-29876-010

APU

81529876010

Description

This exceptional Springdale investment opportunity encompasses a thriving auto body business and a separate residential rental property on a single lot. The 3,685 square foot commercial building houses an established auto body shop, complete with a paint bay, body shop area, and multiple garage bays. Currently leased for $3,000 per month on a three-year lease, this provides immediate and consistent income. The property also includes a 1,999 square foot residential home, separately leased for $2,000 per month on a two-year lease. This dual-income stream offers significant potential for return on investment. The property is located at 3224 McRay Avenue in Springdale, Arkansas. The zoning is A1-2F2, with a non-conforming use designation per the City of Springdale. It's important to note that the residential property is for residential use only and cannot be used for business purposes. Furthermore, the existing auto body shop must remain in operation as per the zoning regulations. This turnkey investment presents a rare chance to acquire a profitable, established business with a supplemental residential income stream. The property's current lease agreements ensure a steady cash flow, making it an attractive option for investors seeking a stable and high-yielding asset. Serious inquiries are encouraged to explore this unique opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $307,542

  6.5%

  $283,885

  7%

  $263,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $432,613

  Geo Method

  $432,613

• Alternative Use

  Use

  Valuation

  Residential

  $239,468

  Hospitality

  $219,351

  Educational

  $182,498

  Medical

  $188,774

  Retail

  $283,885

Location Insight

City

Springdale

County

Washington

State

Arkansas

Latitude

36.1825

Longitude

-94.1658

CBSA code

22220

CBSA name

FAYETTEVILLE-SPRINGDALE-ROGERS, AR-MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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