2885 Prince St Conway, AR 72034-3637
- Banks
- 2,576 SF
- 0.78 lot acres
Current Use by Public Records
- Arvest Mortgage Office / Bank / Mortgage Lender
Property Details for 2885 Prince St
- Year built
- 2003
- Lot size
- 0.78 lot acres
- Property size
- 2,576 SF
- Property type
- Banks
- APN
- 710-07578-000
- APU
- 71007578000
Description
This exceptional investment opportunity presents a 2,532 square foot Chipotle restaurant in Conway, Arkansas, operating under a new 15-year absolute NNN lease commencing December 1, 2024, and expiring November 30, 2039. The lease includes 10% rent increases every five years, ensuring consistent passive income growth. Located on a 0.78-acre lot at a prime corner intersection, the property benefits from high visibility and accessibility, situated near the University of Central Arkansas (over 8,570 students), Conway Regional Medical Center (1,900+ employees), and major retailers like Walmart, Kroger, and Target. The property boasts a strong NOI of $183,563 and a 5.00% cap rate, making it an attractive addition to any portfolio. The tenant, Chipotle Mexican Grill, is a Fortune 500 company with a corporate guarantee, minimizing risk. The property was renovated in 2024. This is a turnkey investment with no landlord responsibilities, ideal for passive investors seeking long-term, stable returns. The property's location within a thriving commercial corridor, coupled with its proximity to major traffic generators and educational institutions, ensures consistent customer traffic and strong rental income. The sale is structured for a 1031 exchange.
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
- Conway
- County
- Faulkner
- State
- Arkansas
- Longitude
- -92.4709
- Latitude
- 35.092
- CBSA code
- 30780
- CBSA name
- LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA
