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$ 1,900,000
Est. payment /mo
Pending
318 S Rhodes St Other Ar, AR 72301
19,663 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 19,663 sqft
Price per Sqft $96
MLS Listing ID 1327058
Construction Status 25 Years or older
HOA Y/N No
Year Built 2005
Annual Tax Amount $15,396
Property Description
Excellent opportunity to acquire a fully-occupied, five-building (seven-suite) medical portfolio in West Memphis, AR, located in the Memphis, TN MSA, just eight miles from downtown Memphis. West Memphis is experiencing significant economic momentum, evidenced by recent and planned government and corporate investments, including a $4B Google data center, and planned openings or expansions by Starbucks, Buc-ee's and Coca-Cola. This portfolio has a history of strong occupancy and is currently 100% occupied by established tenants. Two of the leases include rent escalations, and the investment offers the opportunity to increase returns upon lease renewal by raising rental rates for several of the leases and renegotiating owner responsibility for OPEX. Over $120,000 in recent owner and tenant improvements have enhanced the portfolio's long-term value and reflect the tenants' commitment to continued operations in the area. Portfolio package includes 302 S Rhodes, 304 S Rhodes, 308 S Rhodes, 318 S Rhodes and 316 W Tyler.
Location
State AR
County Crittenden
Direction Traveling east on Hwy 70/Broadway: turn south on South Rhodes Street, turn east on West Harrison Avenue, and the property is on the north side of Harrison Avenue.
Exterior
Present Use Medical/Dental
Building
Lot Description Business Park, City Lot
Structure Type Brick
New Construction No
Construction Status 25 Years or older
Others
Special Listing Condition None
Virtual Tour https://tour.nwarealtors.org/318-S-Rhodes-Street-Other-AR-AR-72301/unbranded
Listed by Delta Properties
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