3513 Race Ave Searcy, AR 72143-6202
Property profile & analytics
3513 Race Ave Searcy, AR 72143-6202
- Turn key restaurants
- 5,050 SF
- 0.85 lot acres
Property ID
US05-1713471
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- IHOP / Restaurant
Property Details for 3513 Race Ave
- Year built
- 2006
- Lot size
- 0.85 lot acres
- Property size
- 5,050 SF
- Property type
- Turn key restaurants
- APN
- 016-09916-002-A
- APU
- 01609916002A
Description
This fee-simple, Class A retail property in Searcy, Arkansas, offers a compelling redevelopment opportunity. The 4,800-square-foot building, constructed in 2005, sits on a 0.83-acre lot and is currently 100% occupied by an IHOP restaurant under a NNN lease. The lease, commencing March 24, 2005, has a remaining term of approximately 1.4 years, expiring April 1, 2026. The current lease includes rent bumps of 10% every five years. The property boasts a strong location as an outparcel to Walmart and Lowe's, providing excellent visibility and accessibility. With a current NOI of $221,212 and a pro-forma NOI of $190,000, the property offers a current cap rate of 8.51% and a pro-forma cap rate of 7.31%. The asking price is $2,600,000, translating to a price per square foot of $541.67. The property is zoned for commercial use and benefits from the area's high market rents and population growth. The lease includes two five-year options. This investment presents a unique chance to capitalize on a prime location in a thriving market, with potential for significant returns through redevelopment or continued operation under the existing tenant. The property's address is 3513 E Race Ave, Searcy, AR 72143.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Searcy
- County
- White
- State
- Arkansas
- Longitude
- -91.687
- Latitude
- 35.2494
- CBSA code
- 42620
- CBSA name
- SEARCY, AR MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,010
$88,860
$82,530
$171,390
-
$444,300
$412,650
$856,950
