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12000 SQ FT RESTAURANT WITH 135 ROOM HOTEL
1421 S CARAWAY, Jonesboro, AR 72401
N/A
135
60,000 SF
Hotel & Motel
Economy/ Limited Service
Investment
3.44 AC
-
Last Verified 2/19/2010
Listing ID 15782121
Highlights
LOCATED 100 YARDS FOR WALGREENS AT THE MAIN AND MAIN CORNER- 12,000 SQ FT RESTAURANT SPACE AVAILABLE
- HOTEL IS UNDER NEW MANAGEMENT
- GREAT HIGH TRAFFIC LOCATION
- BEST RESTAURANT LOCATION IN THE CARAWAY AND STADIUM
- HEART OF BUSINESS DISTRICT BETWEEN MCDONALDS AND BURGER KING
Description
A CONFIDENTIALITY AGREEMENT IS ATTACHED ....IF YOU WOULD LIKE ADDITIONAL INFORMATION ON THE LAST THREE YEARS PROFIT AND LOSS PLEASE SIGN CA AND PDF BACK TO OR EFAX TO . UPON RECEIPT OF YOUR CA I WILL FORWARD YOU THE PASSWORD FOR P&L'S
PARK PLACE INN IS LOCATED ON CARAWAY ROAD IN JONESBORO, AR..LOCATED BETWEEN BURGER KING AND McDONALDS NEAR ONE OF THE BUSIEST INTERSECTIONS IN THE HEART OF THE BUSINESS DISTRICT..ADJACENT TO THE HOTEL PROPERTY INCLUDES AN AUTHENTIC MEXICAN RESTAURANT THAT IS LEASED FOR $4200 PER MONTH. HOTEL HAS TWO STORIES WITH EXTEROR CORRIDORS ( NO INTERIOR CORRIDORS). THE PROPERTY CONSISTS OF OVER 3.44 ACRES IN THE PRIME COMMERCIAL CORRIDOR OF JONESBORO, ARKANSAS. THE LAND ALONE IS WORTH THE ASKING PRICE. THE ZONING IS C-3.THE PROPERTY IS CURRENTLY A INDEPENDENT HOTEL AND WILL NEED MAJOR IMPROVEMENTS TO OPEN ALL THE ROOMS. SUPER VALUE ADD
AS A REPOSITION ....THE FRONTAGE ON THE PROPERTY IS THE MOST VALUALBLE AND ANOTHER RESTAURANT OR OUT PAD COULD BE GAINED. ALSO THE ROOMS COULD BE USED FOR ONE MAN OFFICES WITH THE POSSIBILITY OF TURNING THE ENTIRE PROJECT INTO A HORIZONTAL PROPERTY REGIME (COMMERCIAL CONDO)
LOCATED ON CARAWAY ROAD NEAR THE BUSY INTERSECTION AT NETTLETON AVE AND CARAWAY ROAD. THE PROPERTY IS LOCATED BETWEEN MCDONALDS AND BURGER KING CONTIGIOUS TO KROGER AND A FEW HUNDRED YARDS FROM THE MALL. THE PROPERTY ALSO HAS AN ADDITIONAL 5000 SQ FT NEXT TO THE MEXICAN RESTAURANT THAT COULD BE LEASED OUT FOR $15 PER FOOT OR AN ADDITIONAL $6000 PER MONTH...
THE HOTEL IS CURRENTLY BEING REMODELED AND REBRANDED BY NEW OWNER. ONLY 50% OF THE ROOMS ARE OPERATIONAL BUT MORE ARE COMING ON LINE DAILY. GREAT LOCATION BETWEEN A MCDONALDS AND BURGER KING
Map of 1421 S CARAWAY, Jonesboro, AR 72401 (Craighead County)
Created 6/30/2008
Additional Information for 1421 S Caraway Road, Jonesboro, AR 72401
View the Property Record for this address to access additional information such as historical listings, property details, tax details, owners, mortgages, tenants, and more.
The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P