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102 Buena Vista Rd 3,145 SF Retail Building Hot Springs, AR 71913 $3,116,790 CAD ($991.03 CAD/SF) 5.76% Cap Rate
Investment Highlights
- 10.5 years remaining on original 15 year ground lease
- 8.0% fixed rent increases every 5 years
- Operated by a seasoned Freddy's franchisee
- Absolute NNN lease
- Corner location at signalized intersection
Executive Summary
Over 10.5 years remaining on the absolute NNN ground lease that calls for 8.0% fixed rent increases every 5 years. Newly constructed in 2019, the tenant is an experienced Freddy's franchisee who picked this location because its situated at the corner of a highly visible signalized intersection and is a pad to a Wal Mart Supercenter. The +/-3,145 sq. ft. restaurant is situated on .84 acres of land with abundant on-site parking of 38 spaces.
The city of Hot Springs, Arkansas enjoys a city population of 37,971 that grows during the summer months with tourists due to popular attractions such as Hot Springs National Park famous for their historic thermal bath. Lake Ouachita State Park consisting of 40,000 acres for boating fishing, and hiking, along with Lake Hamilton (7,200 acres of surface area) that is home to resorts, vacation rentals and water activities. Oaklawn Racing Casino is also located in Hot Springs featuring both thoroughbred racing and casino gambling.
The city of Hot Springs, Arkansas enjoys a city population of 37,971 that grows during the summer months with tourists due to popular attractions such as Hot Springs National Park famous for their historic thermal bath. Lake Ouachita State Park consisting of 40,000 acres for boating fishing, and hiking, along with Lake Hamilton (7,200 acres of surface area) that is home to resorts, vacation rentals and water activities. Oaklawn Racing Casino is also located in Hot Springs featuring both thoroughbred racing and casino gambling.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
3,145 SF
Building Class
B
Year Built
2019
Price
$3,116,790 CAD
Price Per SF
$991.03 CAD
Cap Rate
5.76%
NOI
$179,527 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.84 AC
Zoning
(C-R) - The current zoning is Regional Commercial District
Parking
42 Spaces (13.35 Spaces per 1,000 SF Leased)
Frontage
175’ on Buena Vista
Amenities
- Restaurant
- Drive Thru
- Air Conditioning
- Smoke Detector
Fairly walkable
40/100
Very drivable
80/100
Somewhat bikeable
20/100
Nearby Major Retailers
The Bistro
Property Taxes
| Parcel Number | 400-58980-001-000 | Improvements Assessment | $217,552 CAD |
| Land Assessment | $179,444 CAD | Total Assessment | $396,996 CAD |
Property Taxes
Parcel Number
400-58980-001-000
Land Assessment
$179,444 CAD
Improvements Assessment
$217,552 CAD
Total Assessment
$396,996 CAD
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102 Buena Vista Rd
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