1323 Highway 71S, Fort Smith, AR
Retail for Sale - $675,000 - 3,061 Sq. Ft. on 0.5 acres
Property Info
| CIMLS# | 1035549 |
| Location 1323 Highway 71S Fort Smith AR 72901 | |
| Updated | September 7th, 2022 |
| Type | Retail |
| Price | $675,000 |
| Building | 3,061 Sq. Ft. |
| Land | 0.5 acres |
Property Description
Current Pizza Hut location available for purchase. Building is approximately 3,061 square feet situated on 22,000 square feet of land. Located among many other retail and restaurants in a main retail corridor. Property has plenty of frontage and great access from Highway 71 South, near Zero Street and Towson Avenue. Owner is asking $675,000. Cap rate is approximately 7.25% on current lease agreement.
Fee Simple Land and Building – Absolute Triple Net Lease
Current Lease Term: To December-31-2024
Options: None – Tenant exercised all options
Current annual base rent $32,902.00
Percentage rent: 5% over $658,040.00
NOI 2018:$ $35,990.00 and $38,958.97 in 2017
Year Built: 1987 – subsequently remodeled and upgraded
Great visibility – Main Retail Corridor Thoroughfare
Dual Access from Highway 71 and side crossing 14th street
One mile from to Walmart Supercenter
Below Market Rent - Low Price per SF
