Multi-Tenant Center – Hot Springs, AR

$1,499,000
Price
$157,948
Noi
10.54%
Cap Rate
34,400
Leasable Area
1978
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present Albert Pike Shopping Center, a shopping center located in Hot Springs, AR. The Alber Pike Shopping Center is a fully leased 8 tenant retail shopping center comprised of 34,400 SF. Given the nature of the NN leases there are minimal landlord responsibilities, as the landlord is responsible for the capital repair and replacement to the roof and structure, taxes, insurance and CAM.

Albert Pike Shopping Center is highly visible as it is strategically positioned on Albert Pike Rd, a main thoroughfare in Hot Springs. All tenants will benefit from being located on Albert Pike Rd, as there is 17,475 cars per day traveling on the street. The population within 5 miles exceeds 55,000 with the average household income within one mile being greater than $51,000. The Subject offering represents an ideal opportunity for a buyer to attain the fee simple ownership of a multi tenant shopping center. This investment will offer a new owner continued success due to the strength of this location. List price reflects a 10.54% cap rate based on NOI of $157,948.26.

INVESTMENT HIGHLIGHTS
• 8 Tenant Center | 100% Leased
• Double Net (NN) Leases, Minimal Landlord Responsibilities
• 17,475 Cars Per Day Traveling Albert Pike Rd
• Hot Springs is Home to Many Colleges and Universities
• 5 Mile Population Exceeds 55,000 | $51k+ Average Household Income
• Consumer Spending within Five Miles $499 Million
• Storage Units Add an Additional $15,218 in NOI

Instate Broker of Record: Jessica Dearnley | Flake & Kelley Commercial