Regions Plaza
100 East Peach Street, El Dorado, AR
$4,019,000
Price
9.26%
Cap Rate
$372,045
NOI
Overview
Description
The subject property is a 3-story building with a partial basement and containing approximately 39,990 square feet of rentable area. The construction is reinforced steel with a veneer exterior surface.
The property is located at 100 E. Peach St in the heart of the very active central business district of El Dorado and just 2 blocks from the Union County courthouse and the Main Street El Dorado, the vibrant town square.
Regions Bank occupies 24% of the rentable area of the building and has been at tenant in the building since 2005. The current lease term, extended in 2018, expires in 2027. The lease reflects 2.0% annual increases. The Property is adjacent to the Murphy USA Corporate headquarters.
Delek Logistics Operating, LLC (NYSE: DKL) & Lion Oil Co. occupy 29.4% of the rentable area of the building with annual rent increases. The parent company of both entities is Delek US Holdings, Inc. (NYSE: DK).
Three GSA lease add to the stability of the income stream.
A lease was just signed with Odyssey Healthcare Operating A, LP. Odyssey provides services for mental health disorders, substance use disorders, autism spectrum disorders, process addictions and eating disorders.
The vacancy space of 5,502 +/- square feet in 3 suites offers an investor strong upside with leasing potential for additional income.
CONTACT AGENT FOR FULL OM
Highlights
- 86.24% of GLA Leased
- 24% of GLA Leased to Regions Bank
- 29.4 % of GLA Leased to Delek Logistics Operating, LLC (NYSE: DKL) & Lion Oil Co. Parent of both entities is Delek US Holdings, Inc. (NYSE: DK)
- Three GSA Leases Totaling 14.6% of GLA
- Annual Rent Increases on 65.7% of the GLA
- Upside in Leasing Vacancy
- Quality Interior Finish
- TPO Roof Materials Warranty