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Harps Ace Hardware - Charleston, AR 814 W Main St

11,800 SF Retail Building Charleston, AR 72933 $1,082,400 CAD ($91.73 CAD/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

15-Year, Absolute NNN Harps Ace Hardware Store (Corporate Sale-Leaseback to Harp's Food Stores, Inc.)
Only Hardware Store within 15+ Mile Radius, Positioning the Store to Serve Several Surrounding Communities

Former Walmart Express Offered at a Fraction of Replacement Costs ($64/SF)
Headquartered in Springdale, AR, Harps Operates 147 Units in Six States, Including Three Ace Hardware Stores, and Reports Over $1.56B in Sales

EXECUTIVE SUMMARY

SHOP Companies is pleased to present the opportunity for a qualified investor to acquire a Harps ACE Hardware Store operated by Harp's Food Stores, Inc. in Charleston, AR. Built in 2015 as Walmart Express, this single-tenant free-standing retail property is +/- 11,800 SF and sits on approximately 2.62 acres. At close of escrow, Harp's Food Stores, Inc. will execute a new, 15-Year, Absolute NNN Lease. Priced at only $750,000 ($64/SF), this offering represents tremendous value and at a fraction of replacement costs.
The subject property, which includes Harps-brand gas pumps, is excellently located off W Main St., two blocks from Charleston School District, in the western Arkansas community of Charleston. The property sits immediately to the west of Harps 21,605 SF grocery store, which is the only other large retail building in town and within a several-mile radius. This first-class hardware store facility is also the only hardware store within more than 15 miles, positioning the store to serve several adjacent communities.
Founded in 1930, Harps has grown steadily to just under 150 stores, including three Harps Ace Hardware Stores, and over $1.56B in revenue. In 2022, Newsweek Magazine named Harps the #3 Best Grocery Retailer in the US. In 2024, the same publication named Harps among America's Greatest Workplaces for Parents and Families.