Park Plaza | Newly Renovated Roof | DrThr Pad | 3400 Rogers Ave
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Park Plaza | Newly Renovated Roof | DrThr Pad 3400 Rogers Ave
69,106 SF 95% Leased Retail Building Fort Smith, AR 72903 $7,286,000 ($105/SF) 9.25% Cap Rate
Investment Highlights
- Fee Simple Ownership | Freestanding Drive-through Pad | Corporate Guaranteed Leases
- Heavy Capital Invested | New Roof with 20-Year Warranty |Resurfacing Southern Parking Lot
- Strong Demographics in 5-Mile Trade Area
- Multiple Anchor Tenants | Early Renewals and Expansion
- Within Dense Retail Corridor | Heart of Fort Smith
- Located Along State Highway 22 (34,000 VPD) | Large Pylon Sign | Excellent Visibility & Access
Executive Summary
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Park Plaza, a 69,106 SF, 95% (Pending 100%) occupied, e-commerce resistant investment opportunity located in Fort Smith, Arkansas. The offering features a strip retail center and two freestanding pads, one of which has a drive-through. Corporate guaranteed tenants Harbor Freight Tools, Biomat, and Dollar General (S&P: BBB) anchor the property, occupying 53% of the GLA and constituting 50% of the base rent revenue. Biomat has been operating on site for more than 20 years, and recently signed a 5-year extension, demonstrating strong commitment to the site. Heavy capital improvement has been invested into the center at the expense of current owner, providing substantial savings on capital expenditure for a future investor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
69,106 SF
Building Class
B
Year Built/Renovated
1958/1995
Price
$7,286,000
Price Per SF
$105
Cap Rate
9.25%
NOI
$673,956
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Land Acres
6.96 AC
Zoning
C-4 - Commercial Regional
Parking
304 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
PROPERTY TAXES
Parcel Number | 13617-0004-00005-02 | Improvements Assessment | $566,030 |
Land Assessment | $363,810 | Total Assessment | $929,840 |
PROPERTY TAXES
Parcel Number
13617-0004-00005-02
Land Assessment
$363,810
Improvements Assessment
$566,030
Total Assessment
$929,840
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Park Plaza | Newly Renovated Roof | DrThr Pad | 3400 Rogers Ave
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