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Harps 201 Highway 412 W
38,640 SF Retail Building Siloam Springs, AR 72761 $2,263,569 ($59/SF) 6.50% Cap Rate
Investment Highlights
- 100% leased to Harps Food Stores Inc. (NNN)
- Building Size: 36,783 +/- SF
- Located along US HWY 412 W (30,000 VPD)
- Renewed Lease Term: March 2025 - February 2030
- Cap Rate: 6.5%
Executive Summary
Property Facts Under Contract
Amenities
- Freeway Visibility
- Pylon Sign
- Drive Thru
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Retailer
- 36,783 SF
- -
- Triple Net
- -
Harvard and Floy Harp founded Harps in 1930. They started the first store with $500 in cash that Harvard had saved while working in the citrus industry in California. The first store was Harps Cash Grocery and was located in Springdale, AR. Over the next 34 years they remodeled, expanded, and moved to bigger buildings as their business continued to grow. Harps is a hometown grocer. When customers are there, they'll always be treated like a neighbor, because that's exactly what they are. Hometown is as much about values as it is convenience. In 2001, the Company did a leveraged buy-out with the Employee Stock Ownership Plan (ESOP) purchasing outstanding stock from the family and management. Harps is the largest employee-owned company headquartered in Arkansas and the 16th largest in the United States. In 2022, Newsweek Magazine ranked Harps Food Stores the 3rd best supermarket retailer in the nation based on their consumer poll.
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Retailer | 36,783 SF | - | Triple Net | - |
Nearby Major Retailers
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | $371,133 | |
Land Assessment | $109,757 | Total Assessment | $480,890 |
PROPERTY TAXES
Presented by
Harps | 201 Highway 412 W
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