$1 Auction - Former Aaron's - 2014 Built 1520 Pine St

Marcus & Millichap is pleased to present a vacant, free-standing, retail building located at 1520 Pine Street in Arkadelphia, Arkansas 71923 (the “Property”). Formerly occupied by Aaron’s Rents, the Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. FIRST BID MEETS RESERVE!
Built in 2014, the Property is improved with a one-story, free-standing, single tenant, retail building totaling ±6,089 square feet, and offers 26 parking spaces and 2 ADA parking spaces. The Property is strategically positioned on ±0.56 acres of land and can be accessed via one ingress/egress curb cut. The Arkansas State Highway Commission recently acquired approximately ±0.12 acres of the site for $36,075 to accommodate right-of-way and highway facilities. The acquired land included the Property's pylon sign, the original curb cut onto Pine Street, and seemingly 2 parking spaces. The Property was formerly occupied by Aaron Rents on a net lease and offers potential owner users/investors the ability to acquire a free-standing building with significant value add through lease up at long term market rates (CoStar estimated rents of $8-10/SF). Zoned C-2, Highway Commercial, this zoning offers favorable flexible zoning allowing for a variety of retail uses via adaptive reuse or repositioning.
Arkadelphia is located within Clark County in what is considered the ‘Metro Little Rock’ area along Interstate 30 strategically midway between Little Rock and Texarkana. The Property benefits from ±136 feet of prominent frontage along Pine Street, with an average daily traffic count of ±7,985 vehicles per day and has convenient access to Interstate 30 which sees ±31,000 VPD (±5-min). This strategic location adjacent to a busy Family Dollar, enhances the Property’s accessibility and visibility, making it a prime opportunity for businesses looking to capture local and through traffic along this busy corridor. Arkadelphia serves as a key commercial hub for Clark County and the surrounding region. Located near Degray Lake and Crater of Diamonds State Park, the Property is conveniently placed amongst the key educational area demand drivers, including Ouachita Baptist University (OBU) and Henderson State University, which are just ±1-mi away and collectively enroll over 4,000 students; and Arkadelphia School District with 800_ students. This former Aaron Rents is located near corporate demand drivers such as Hostess Brands and Veolia, both of which are within 4-mi and are significant contributors to Clark County’s economy. Additionally, the site is less than 2 miles from Baptist Health Medical Center, the area’s main hospital with 25-Beds, creating a strong daytime population. Being the commercial hub for the area, the Property serves ±16k people with an AHHI of ±$77k within an expanded 10-mi area.