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319 E Buchanan St 20,911 SF Retail Building Prairie Grove, AR 72753 $1,550,000 ($74.12/SF) 6.50% Cap Rate
Executive Summary
Imhoff Commercial is pleased to present the exclusive listing for a Harps property located at 319 E Buchanan St Prairie Grove, AR 72753. This is an opportunity to acquire a single-tenant, absolute NNN-leased Harps Grocery in Prairie Grove, Arkansas — a rare combination of passive income, institutional-quality tenancy, and exceptional market positioning at an attractive 6.5% cap rate. The property is subject to a 15-year Absolute Net (NNN) lease, which commenced in 2016. The tenant operates over 150 stores in 6 states. All locations back the performance of the lease. The current annual rent is $100,800.
Investment Highlights:
Long-Term Absolute NNN Lease with no Landlord responsibilities
100% Absolute Net Leased to Harps Good Stores, Inc who operates 150+ locations.
Located in Northwest Arkansas, one of the fastest growing areas in the country
Original Lease Term: 15 Years
Rent Commencement Date: 6/16/2016
Lease Expiration Date: 1/1/2032
Lease Term Remaining: ± 5Years
Increases: Flat through initial term and options
Options: Nine (9), 5-Year Options
Investment Highlights:
Long-Term Absolute NNN Lease with no Landlord responsibilities
100% Absolute Net Leased to Harps Good Stores, Inc who operates 150+ locations.
Located in Northwest Arkansas, one of the fastest growing areas in the country
Original Lease Term: 15 Years
Rent Commencement Date: 6/16/2016
Lease Expiration Date: 1/1/2032
Lease Term Remaining: ± 5Years
Increases: Flat through initial term and options
Options: Nine (9), 5-Year Options
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
20,911 SF
Building Class
B
Year Built/Renovated
2000/2010
Price
$1,550,000
Price Per SF
$74.12
Cap Rate
6.50%
NOI
$100,750
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
1.75 AC
Zoning
Commercial
Parking
109 Spaces (5.21 Spaces per 1,000 SF Leased)
Frontage
Somewhat walkable
30/100
Very drivable
80/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $331,100 | |
| Land Assessment | $29,790 | Total Assessment | $360,890 |
Property Taxes
Parcel Numbers
Land Assessment
$29,790
Improvements Assessment
$331,100
Total Assessment
$360,890
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319 E Buchanan St