318 S Rhodes St, Other Ar, AR 72301
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318 S Rhodes St, Other Ar, AR 72301
318 S Rhodes St, Other Ar, AR 72301
318 S Rhodes St, Other Ar, AR 72301
318 S Rhodes St, Other Ar, AR 72301
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Tracey Lightfoot

Tracey Lightfoot

+1(417) 251-1946
$ 1,900,000
Est. payment /mo
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Pending

318 S Rhodes St Other Ar, AR 72301

19,663 SqFt

UPDATED:

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

Square Footage 19,663 sqft

Price per Sqft $96

MLS Listing ID 1327058

Construction Status 25 Years or older

HOA Y/N No

Year Built 2005

Annual Tax Amount $15,396

Property Description

Excellent opportunity to acquire a fully-occupied, five-building (seven-suite) medical portfolio in West Memphis, AR, located in the Memphis, TN MSA, just eight miles from downtown Memphis. West Memphis is experiencing significant economic momentum, evidenced by recent and planned government and corporate investments, including a $4B Google data center, and planned openings or expansions by Starbucks, Buc-ee's and Coca-Cola. This portfolio has a history of strong occupancy and is currently 100% occupied by established tenants. Two of the leases include rent escalations, and the investment offers the opportunity to increase returns upon lease renewal by raising rental rates for several of the leases and renegotiating owner responsibility for OPEX. Over $120,000 in recent owner and tenant improvements have enhanced the portfolio's long-term value and reflect the tenants' commitment to continued operations in the area. Portfolio package includes 302 S Rhodes, 304 S Rhodes, 308 S Rhodes, 318 S Rhodes and 316 W Tyler.

Location

State AR

County Crittenden

Direction Traveling east on Hwy 70/Broadway: turn south on South Rhodes Street, turn east on West Harrison Avenue, and the property is on the north side of Harrison Avenue.

Exterior

Present Use Medical/Dental

Building

Lot Description Business Park, City Lot

Structure Type Brick

New Construction No

Construction Status 25 Years or older

Others

Special Listing Condition None

Virtual Tour https://tour.nwarealtors.org/318-S-Rhodes-Street-Other-AR-AR-72301/unbranded

Listed by Delta Properties
Tracey Lightfoot
Tracey Lightfoot

Broker / Partner | License ID: 2013014900

+1(417) 251-1946 | traceysellsbranson@gmail.com

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318 S Rhodes St