3400 Rogers Ave Fort Smith, AR 72903-2983

Property Details for 3400 Rogers Ave

Year built

1958

Lot size

6.96 lot acres

Property size

59,713 SF

Property type

Community centers

APN

13617-0004-00005-02

APU

1361700040000502

Description

Park Plaza, a 69,106 square foot retail center in Fort Smith, Arkansas, presents a compelling investment opportunity. This fee simple ownership (land and building) includes eleven units, boasting 95% occupancy with a strong tenant mix including Dollar General and Harbor Freight. Tenants occupy a total of 69,106 square feet, generating a substantial net operating income (NOI) of $673,956, representing a 9.25% cap rate. The property features 304 parking spaces and is situated on a 6.96-acre lot zoned C-4. Built in 1958 with renovations in 1965 and 1995, including a recent $200,000 renovation, the property benefits from a new roof with a 20-year warranty and recently resurfaced southern parking lot. Key features include a freestanding pad with a drive-through, corporate guaranteed leases, and multiple anchor tenants. The property enjoys excellent visibility and access along State Highway 22 (34,000 vehicles per day), benefiting from its location within a dense retail corridor near Central Mall and Fort Smith Marketplace, and proximity to the University of Arkansas - Fort Smith campus and Creekmore Park. The 5-mile trade area boasts a population exceeding 85,000 residents and nearly 67,000 daytime employees, with an average household income of $59,000. The asking price is $7,286,000, translating to $105.43 per square foot. This property offers a stable, e-commerce resistant investment with significant upside potential.

Location Insight

City

Fort Smith

County

Sebastian

State

Arkansas

Longitude

-94.3941

Latitude

35.3716

CBSA code

22900

CBSA name

FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments