ADVANCE AUTO PARTS | RECENT LEASE EXTENSION 3680 Dave Ward Dr 6,905 SF Retail Building Conway, AR 72034 $2,076,195 CAD ($300.68 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent Lease Extension and 20 Year Historical Occupancy Demonstrating Strong Commitment to the Location.
- Positioned Along Area’s Traffic and Retail Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility.
- Conway has Experienced Significant Growth, leading to the Development of new Residential Areas and Commercial Establishments.
- Net Lease Featuring a 14% Rental Increase in Option 1 and 5% at Each Remaining Option.
- Advance Auto Parts (NYSE: AAP) has a S&P Investment Grade Credit Rating of “BB+” and is Ranked #358 on the Fortune 500 List.
- Strong Daytime Employment Area - Surrounded by Numerous Established Distribution Centers, Industrial & Manufacturing Plants.
EXECUTIVE SUMMARY
20 Year Historical Occupancy | Adjacent to Walmart Supercenter | Near University of Central Arkansas - One of the Largest Universities in the State | Signalized Hard Corner | In Close Proximity to I-40 | Strong Daytime Employment Area | Minutes from Medical Center | Conway has Experienced Significant Growth
Arkansas Broker of Record: Steve Greer | 10527 Kentshire Court, Suite B Baton Rouge, LA 70810 | P: (225) 376-6729 | Lic #: PB00098133 | Steve.Greer@MarcusMillichap.com
Arkansas Broker of Record: Steve Greer | 10527 Kentshire Court, Suite B Baton Rouge, LA 70810 | P: (225) 376-6729 | Lic #: PB00098133 | Steve.Greer@MarcusMillichap.com
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,905 SF
Building Class
C
Year Built
2005
Price
$2,076,195 CAD
Price Per SF
$300.68 CAD
Cap Rate
7%
NOI
$145,334 CAD
Tenancy
Single
Building Height
1 Story
Slab To Slab
14’
Building FAR
0.16
Lot Size
1.02 AC
Parking
32 Spaces (4.63 Spaces per 1,000 SF Leased)
Frontage
363’ on Dave Ward Dr
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Advance Auto Parts
- Retailer
- 6,905 SF
- -
- Double Net
- Apr 2032
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Advance Auto Parts | Retailer | 6,905 SF | - | Double Net | Apr 2032 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 712-12284-101 | Improvements Assessment | $114,762 CAD |
| Land Assessment | $100,637 CAD | Total Assessment | $215,399 CAD |
