Van Buren, AR

Price: $ 3,131,817
CAP Rate: 11.00%
NOI: $ 344,500
Lease Term Remaining Before Options: 3 Years 4 Months
Investment Highlights
  • The property is the only Walgreens property in Van Buren and the only Walgreens north of the Arkansas River for over 7 miles.
  • The property is located adjacent to the Interstate 40 and Fayetteville Road interchange, connecting Oklahoma City to the east and Little Rock to the west, with over 60,000 combined vehicles daily.
  • Bekaert Corporation (2 miles east) and Simmons Foods, Inc. (2 miles south), both recently committed over $150 million to expand their manufacturing and distribution centers, adding permanent jobs to the market.
  • Located 2.5 miles from the property, Baptist Health - Van Buren is the only major hospital in Van Buren with over 100 licensed beds.
Offering Summary

Walgreens has been operating at the site for 22 years and has over 3 years of firm term remaining before the 10 (5-year) option periods. Walgreens operates under a  absolute triple net lease, which provides for no landlord obligations whatsoever. Van Buren is the second largest city in the Forth Smith, Arkansas Oklahoma Metropolitan Statistical Area and is located just 5 miles to the North of Fort Smith.

 

The Property is situated adjacent to the Interstate 40 and Fayetteville Road interchange, connecting Oklahoma City to the east and Little Rock to the west, with over 60,000 combined vehicles daily. Strategically positioned as the only Walgreens property north of the Arkansas River, the Property serves the entire Van Buren market. Additionally, the Property benefits from being located in the central retail hub in Van Buren, with complimentary national retail tenants including Walmart Supercenter, Lowes, Aldi, and Tractor Supply.

 

Ideally located as the closest national chain drugstore to the recently constructed (2018) Baptist Health – Van Buren, the Property directly serves the 103-bed regional medical facility, which anchors healthcare for the broader Van Buren market. Additionally, the Property benefits from proximity to major local employers, including Bekaert Corporation (2 miles east) and Simmons Foods, Inc. (2 miles south), which combined have invested over $150 million in economic development and expansion, fueling job growth in the local economy.

Price: $ 3,131,817
CAP Rate: 11.00%
NOI: $ 344,500
Lease Term Remaining Before Options: 3 Years 4 Months