Walk-Ons | Strong Sales | Superb Location | 955 S Amity Rd
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Walk-Ons | Strong Sales | Superb Location 955 S Amity Rd
8,400 SF Retail Building Conway, AR 72032 $6,802,000 ($810/SF) 6.75% Cap Rate
Investment Highlights
- Long-term lease | 12+ years remaining on the absolute NNN lease with one of the fastest growing restaurant concepts in the country
- Full-term, personal guarantee from the principal operator who currently has 10 units open and operating | See broker for details on net worth
- One block from the $130MM, 52-acre Maly District development | Includes a 57k SF entertainment center, 108-room Marriott, and Sherwin-Williams
- Rare, 2% annual increases throughout the initial term and options | 7.54% Avg CAP at List Price
- Excellent access and visibility from Dave Ward Dr which sees ±37,200 VPD
- Industry-leading average unit volume of nearly $5MM across 80+ restaurants | 75+ locations in some phase of planning or development
Executive Summary
PROPERTY HIGHLIGHTS
• Long-term lease | 12+ years remaining on the absolute NNN lease with one of the fastest growing restaurant concepts in the country
• Rare, 2% annual increases throughout the initial term and options
• Attractive, average yield of 7.54% over the remaining base lease term
• Full-term, personal guarantee from the principal operator who currently has 10 units open and operating | See broker for details on net worth
• Adjacent to a new construction Starbucks
• Excellent access and visibility from Dave Ward Dr which sees ±37,200 VPD
• Highly-improved, 2020 construction building and one of Walk-On’s newest prototype designs with roll up windows for an indoor/outdoor dining experience | Tenant recently added a $400,000 outdoor patio which includes a retractable roof, which has driven up sales
• Frontage and visibility at a 4-way intersection directly across from Lewis Crossing Shopping Center | Sam’s Club, Academy Sports, Ross, ALDI, and ULTA-anchored retail center
• Direct access to I-40 which is a main north/south thoroughfare connecting Conway to downtown Little Rock that sees ±68,000 VPD
• One block from the $130MM, 52-acre Maly District development | Currently includes a 57k SF entertainment center, 108-room Marriott hotel, and Sherwin-Willliams | Planned to eventually include at least 480 apartment units, a 172,500+ SF event center, and additional retail shopping and restaurants | Click here for more info
• ¾ of a mile from Baptist Health Medical Center - Conway | 260,000 SF facility with 111 beds and 8 operating rooms
• Less than 1.5 miles from Conway Commons | Conway’s largest shopping center | 80-acres and 406,000 SF of retail | Anchored by Home Depot, Target, Kohl’s, DICK’S, Belk, TJ Maxx & HomeGoods, and Best Buy
• 2.5 miles from University of Central Arkansas | 10,869 students enrolled
• Industry-leading average unit volume of nearly $5MM across 80+ restaurants | 75+ locations in some phase of planning or development across 15 states
• Over 2MM SF of industrial within ¼ mile of the subject property and proximity to a mix of car dealerships such as Honda, Toyota, Chevrolet, Chrysler/Jeep/Dodge, Kia and GMC/Buick
• Long-term lease | 12+ years remaining on the absolute NNN lease with one of the fastest growing restaurant concepts in the country
• Rare, 2% annual increases throughout the initial term and options
• Attractive, average yield of 7.54% over the remaining base lease term
• Full-term, personal guarantee from the principal operator who currently has 10 units open and operating | See broker for details on net worth
• Adjacent to a new construction Starbucks
• Excellent access and visibility from Dave Ward Dr which sees ±37,200 VPD
• Highly-improved, 2020 construction building and one of Walk-On’s newest prototype designs with roll up windows for an indoor/outdoor dining experience | Tenant recently added a $400,000 outdoor patio which includes a retractable roof, which has driven up sales
• Frontage and visibility at a 4-way intersection directly across from Lewis Crossing Shopping Center | Sam’s Club, Academy Sports, Ross, ALDI, and ULTA-anchored retail center
• Direct access to I-40 which is a main north/south thoroughfare connecting Conway to downtown Little Rock that sees ±68,000 VPD
• One block from the $130MM, 52-acre Maly District development | Currently includes a 57k SF entertainment center, 108-room Marriott hotel, and Sherwin-Willliams | Planned to eventually include at least 480 apartment units, a 172,500+ SF event center, and additional retail shopping and restaurants | Click here for more info
• ¾ of a mile from Baptist Health Medical Center - Conway | 260,000 SF facility with 111 beds and 8 operating rooms
• Less than 1.5 miles from Conway Commons | Conway’s largest shopping center | 80-acres and 406,000 SF of retail | Anchored by Home Depot, Target, Kohl’s, DICK’S, Belk, TJ Maxx & HomeGoods, and Best Buy
• 2.5 miles from University of Central Arkansas | 10,869 students enrolled
• Industry-leading average unit volume of nearly $5MM across 80+ restaurants | 75+ locations in some phase of planning or development across 15 states
• Over 2MM SF of industrial within ¼ mile of the subject property and proximity to a mix of car dealerships such as Honda, Toyota, Chevrolet, Chrysler/Jeep/Dodge, Kia and GMC/Buick
Property Facts
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
8,400 SF
Building Class
B
Year Built
2020
Price
$6,802,000
Price Per SF
$810
Cap Rate
6.75%
NOI
$459,123
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.90 AC
Zoning
C-3
Parking
105 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
215 FT on East Dave Ward Drive
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $571,510 | |
| Land Assessment | $454,410 | Total Assessment | $1,025,920 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$454,410
Improvements Assessment
$571,510
Total Assessment
$1,025,920
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Walk-Ons | Strong Sales | Superb Location | 955 S Amity Rd
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