Listed by Sands Investment Group Austin - Offenbecher, Sands Investment Group, Sands Investment Group Austin
$12,900,000
Mellor Park Mall - El Dorado, AR
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 298,000
Cap Rate 9.28%
NOI $1,197,383
Occupancy 81%
Tenancy Multi
Brand/Tenant Dollar Tree, Applebee's
Price per SqFt $54
Acreage 22.300
Ground Lease No
237,519 SF Value-Add Regional Mall | 9.28% CAP | National Tenants | Prime Retail Corridor
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 237,519 SF Mellor Park Mall located at 1826–2133 N West Avenue in El Dorado, AR. As the dominant shopping destination in El Dorado, Mellor Park Mall features a mix of strong national retailers, including TJ Maxx, Hobby Lobby, Dollar Tree, Bealls, Citi Trends, Shoe Show, and Applebee’s. The vacancy and potential redevelopment of the oversized lot allow an investor to recognize NOI appreciation and potential future development, providing a secure investment with great returns.
Investment highlights
- Mellor Park is the dominant shopping center in El Dorado and boasts a strong national tenant mix, including TJ Maxx, Hobby Lobby, Dollar Tree, Bealls, Citi Trends, Shoe Show, and Applebee's.
- The property is a value-add regional mall that is currently 81% occupied, creating an opportunity for NOI appreciation by filling the vacant suites, with a pro forma NOI estimated at $1,622,897 compared to the current NOI of $1,197,383.
- TJ Maxx and Citi Trends both report exceptional sales - reach out for details.
- Future development is supported by the large rear parking field, which offers approximately 5 acres of land with redevelopment potential.
- The site includes 3 pad sites, including Applebee's, Yamato Japanese Restaurant, and Red River Credit Union, providing flexibility in the future exit strategy.
- Bealls has executed a 10-year lease and just opened for business in October 2024.
- Starbucks (not part of the offering) opened for business in 2025, demonstrating the strength of the location.
- El Dorado is home to Murphy USA (3,500 employees), Delek US Holdings (600 employees), Lanxess (500 employees), South Arkansas Regional Hospital (860 employees), and South Arkansas Community College (1,253 students), providing a stable and growing economy.
- Arkansas is a non-disclosure state and is well known for being business-friendly, recently named the #3 state to start a business (Forbes 2023).
Listing Contacts
Listed by Sands Investment Group Austin - Offenbecher, Sands Investment Group, Sands Investment Group Austin
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,197,383.00
$99,781.92/mo
Valuation Metrics
0
DSCR
9.28%
Cap Rate
9.28%
ROI
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