Property Name
Harps Foods Grocery Portfolio - Arkansas
GLA
140,758 SF
Property Description
- 4 HARPS GROCERY STORES: Abs. NNN. 9 years remaining on primary terms; 9, 5-year options
- LIST PRICE: $14,200,000 / $100.88 PSF (Avg.)
- NOI: $994,275 / $7.06 Rent PSF (Avg.)
- LIST CAP: 7.00%
- ASSUMABLE DEBT: $6.3M / 4.50% fixed rate (250 bps spread) / nonrecourse
- Rapid 100% amortization over the remaining 9-year initial term results in an annual 11%+ ROE.
- After 9 years, Buyer will own 4 Harps free and clear with $944K annual cash flow, and at an equity basis of approximately $50-55/SF
- HIGH UNIT-LEVEL PERFORMANCE: the portfolio reports strong and growing sales with very low rent-to-sales ratios; Mountain Home is the #1 store in the chain (Placer AI).
- RARELY TRADED ASSETS: the majority of Harps stores are owned by Harps or by REITs. These are the first assets to trade in the last 3 years.
Contact
Will Lightfoot
405-806-7601 (Direct)
405-806-7600 (Office)
Jason Little
405-806-7602 (Direct)
405-806-7600 (Office)
Matt Maguire
405-806-7605 (Direct)
405-806-7600 (Office)