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1200 S Waldron Rd
Fort Smith, AR 72903
Central Shopping Center · Retail Property For Sale
Executive Summary
Strong National & Regional Tenant Lineup
• Approximately 79% of leased GLA and 89% of rental revenue are
generated by national and regional tenants
• Malco Theatres is a top 10 performer compared to Theatres across the
state (placer.ai)
Sticky Tenancy & Long-Term Anchor Commitment
• Malco Theatres has occupied the center for over 25 years and recently
executed a 10-year lease extension through 2035
• Malco is investing $2,000,000 in interior renovations, reinforcing longterm
confidence in the asset and trade area
Embedded Mark-to-Market and Lease-Up Upside
• Average in-place rent of $8.49 PSF sits meaningfully below market,
with several leases signed 15+ years ago creating direct upside as
renewals and rollovers occur
• 4 vacant suites totaling 14,933 SF offer immediate lease-up potential
at market rents, with underwriting already reflecting $10-14 PSF on
these spaces
Attractive Yield Profile with Lender Support
• In-place cash flow offers a compelling yield relative to fixed-income
alternatives
• Lenders are actively underwriting the asset at 60–65% leverage,
supporting positive leverage and flexible capital structures
• Approximately 79% of leased GLA and 89% of rental revenue are
generated by national and regional tenants
• Malco Theatres is a top 10 performer compared to Theatres across the
state (placer.ai)
Sticky Tenancy & Long-Term Anchor Commitment
• Malco Theatres has occupied the center for over 25 years and recently
executed a 10-year lease extension through 2035
• Malco is investing $2,000,000 in interior renovations, reinforcing longterm
confidence in the asset and trade area
Embedded Mark-to-Market and Lease-Up Upside
• Average in-place rent of $8.49 PSF sits meaningfully below market,
with several leases signed 15+ years ago creating direct upside as
renewals and rollovers occur
• 4 vacant suites totaling 14,933 SF offer immediate lease-up potential
at market rents, with underwriting already reflecting $10-14 PSF on
these spaces
Attractive Yield Profile with Lender Support
• In-place cash flow offers a compelling yield relative to fixed-income
alternatives
• Lenders are actively underwriting the asset at 60–65% leverage,
supporting positive leverage and flexible capital structures
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
174,647 SF
Building Class
B
Year Built
1969
Price
$18,500,000
Price Per SF
$105.93
Cap Rate
9.10%
NOI
$1,683,500
Percent Leased
91%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.34
Lot Size
11.70 AC
Zoning
C-4
Parking
877 Spaces (0.44 Spaces per 1,000 SF Leased)
Frontage
516’ on South Waldron Road
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Property Taxes
| Parcel Number | 18883-0000-01003-00 | Improvements Assessment | $2,699,414 |
| Land Assessment | $316,028 | Total Assessment | $3,015,442 |
Property Taxes
Parcel Number
18883-0000-01003-00
Land Assessment
$316,028
Improvements Assessment
$2,699,414
Total Assessment
$3,015,442
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