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    FOR LEASE
    Community centers

    2851 Lakewood Village Dr, North Little Rock, AR 72116

    9,746 SF 23.09 ac lot Built 1988
    Individually Owned 8-yr Hold Free & Clear
    Property ID
    US05-0337866
    Property summary
    AI-generated overview

    Lakewood Village Shopping Center, a prominent 357,641 square foot, single-story shopping center in North Little Rock's LR - North Little Rock submarket, presents a unique investment opportunity. Built in 2000, this multi-tenant property sits on 40.35 acres and offers ample parking via cross-access. Currently, 43,165 square feet of retail space is available, divisible into units ranging from 1,500 to 24,222 contiguous square feet. The center boasts a strong tenant mix including Esporta Fitness, Edwards Food Giant Grocery, ULTA, JOANN Fabrics, Black Bear Diner, Crumbl Cookie, Brewski's North Pub and Grill, Corky's BBQ, Olive Garden, and Oak Street Health. High traffic counts are a key feature, with McCain Boulevard seeing over 31,000 vehicles per day and Highway 67 exceeding 87,000 vehicles per day. Placer AI data from April 2023 to April 2024 (pre-Edwards Food Giant opening) indicated over 3.6 million annual visits. A 7,815 square foot former TGI Friday's space is available near the McCain Boulevard entrance, ideal for restaurant or retail use. Various sizes of office, retail, and restaurant spaces are available to suit diverse business needs.

    Property profile
    Verified
    Property type Community centers
    Use group MINI-MALL
    Year built 1988
    Total area 9,746 SF
    Lot 23.09 ac (1,005,800 SF)
    APN 23N-007-04-002-00
    UPID US05-0337866
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.25M
    Blend (final) Blend
    $1.05M
    Owner & transaction history
    Hand Cut Steaks Acquisitions I · 8 yrs held
    Hand Cut Steaks Acquisitions I
    since 2017
    2 recorded transactions
    2017
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $1.7M +118.8%
    Retail stores $965,000 +25.4%
    Commercial (general) $875,000 +13.8%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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