Malcolm Avenue Strip Center
For sale to qualified investors is the fee-simple interest in two well positioned retail strip centers in Newport, Arkansas. Located along the heavily-trafficked Malcolm Avenue, the properties offer a diverse mix of local and regional tenants along with future upside potential. The properties are being offered at an aggressive 10% cap rate, which willprovide an investor with a return not often seen in today’s market.Because current leases have a gross rental structure and low rental rates, future upside exists in converting tenants to triple-net leases and increasing rental rates. Rent One Plaza is located adjacent to Kroger grocery store, driving traffic to the site daily, while The Newport Centeris located just west on Malcolm Avenue and is surrounded by retailers including Firestone, Hardee’s, Citgo, and others. Notable tenants sharing the corridor with these properties include Kroger, Walgreens,McDonalds, KFC, Dollar General, Long John Silver’s, and more. The properties are being offered at a price of only $51.33 per square foot,which is considerably below the current replacement cost.