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29692118
29692119

501 N Hervey St, Hope, AR 71801 For Sale

JE
AR AR EB00056069
Keller Williams Realty
Listed by Keller Williams Realty
$1,350,000
165 days on market
Updated 10 days ago

501 N Hervey Street

Details
APN 700-05067-002
Property Type Retail
Sub Type Shopping Center
Square Footage 8,400
Net Rentable (SqFt) 8,400
Units 3
Cap Rate 5.96%
NOI $80,444
Occupancy 100%
Lease Type Gross
Lease Term 5
Lease Expiration 01/01/2026
Rent Bumps Yes
Lease Options 3 year renewal
Pro-Forma Cap Rate 6.3%
Pro-Forma NOI $85,000
Price per SqFt $161
Broker Co-Op Yes
Class A
Year Renovated 2
Buildings 1
Stories 1
Lot Size (SqFt) 15,464
Investment Type Core
Lease Commencement 01/01/2021
Occupancy Date 01/11/2022
Sale Condition For sale by owner

Retail | 5.96% CAP | 8,400 SqFt

Marketing description

Introducing a distinguished and appealing income-producing investment opportunity in the highly sought after commercial district of Hope, AR – a shopping center at 501 North Hervey Street, an address that denotes high visibility and promising potential. Immerse yourself in the bustling commercial brilliance of the North Hervey Shopping Center, a thriving hub for local commerce and retail businesses. This property is entirely leased by three long-term tenants, offering an investor a steady income stream from moment one. A proven asset, this shopping center exudes both stability and growth. The exterior of the building stands out amidst its surroundings, promising aninviting and professional atmosphere. The property has been upheld with meticulous attention, maintaining its appeal through thechanging times. It basks in the advantages offered by its premium location, inviting passersby with active pedestrian traffic and serving as a notable landmark in the cityscape. The property has the added benefit of recent improvements, which include a new PVCMembrane Roof, a feature that notably enhances the property’s value and durability. Practical and aesthetically appealing, these thoughtful renovations reflect careful thought towards longevity. Enveloped within a vibrant commercial district, the property offers easy access to a myriad of businesses and services, making it a preferred destination for shopping enthusiasts. The shopping center capitalizes on the foot traffic that the area sees on an everyday basis, adding to its income potential. Exuding an ambience of potential and possibilities, 501 North Hervey Street is an investment that reaps rewards in multiples. It is a distinctive property that has been carefully maintained to promote sustained growth through enduring appeal. The combination of high visibility, the promise of steady income, and the premium location make it an exceptionally enticing prospect for the pragmatic investor. In essence, the shopping center at 501 North Hervey Street is more than just a property – it’s a thriving commercial kingdom waiting for its next monarch. This is an invitation to own a substantial piece of Hope’s pulsating commercial heart. Join the business narrative of Hope, AR, and let your success story unfold.

Investment highlights

✔ Strong cash flow

✔ Low operating expenses

✔ Diversified tenant base (office + service + restaurant)

✔ Stable Arkansas market fundamentals

✔ Clean cap-rate story for buyers and lenders

Listing Contacts

JE
AR AR EB00056069
Keller Williams Realty
Listed by Keller Williams Realty

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$80,444.00
$6,703.67/mo

Valuation Metrics

0
DSCR
5.96%
Cap Rate
5.96%
ROI

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Additional Information

Name
Jason Edington
License
AR EB00056069
Brokerage
Keller Williams Realty
Title
Executive Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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