Crackerbox Properties Top $16 Million in Pulaski County (Real Deals)

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Crackerbox Properties Top $16 Million in Pulaski County (Real Deals)

by George Waldon on Monday, Oct. 22, 2012 12:00 am

The Little Rock convenience store at 8821 Fourche Dam Pike topped the chart among Valero’s Pulaski County Crackerbox acquisitions. Sales price: $3.8 million. (Photo by Michael Pirnique)

The deal is financed with a five-year loan of $350,000 from One Bank & Trust of Little Rock. The 0.73-acre development previously was tied to a March 2002 mortgage of $669,150 held by Metropolitan.

The bank recovered the property from NFC National Marketing Inc., led by Phil Elkins, in October 2011 at a $475,000 foreclosure sale.

The bank landed a $528,000 judgment against NFC and Elkins in June 2011. NFC acquired the project in September 1999 for $690,000 from BLM/LEC LLC, led by William and Mary Cheek.

Rural Acreage

Nearly 13 acres in west Pulaski County rang up a $200,000 transaction.

Johnson Brothers Investments Inc., led by Bartt, Robert and Brett Johnson bought the land near 40710 Hwy. 10 from John and Melba Presley.

The Presleys purchased the property for $45,000 in February 2000 from Herman and Helen Powers.

Prospect Home

A 5,424-SF home in Little Rock's Prospect Terrace neighborhood tipped the scales at $1.1 million.

John Conner III and his wife, Heather, acquired the house from Heartsill Ragon III and his wife, Claudia.

The deal is funded with a 30-year loan of $880,000 from One Bank & Trust. The residence previously was linked with a March 2012 mortgage of $398,159 held by Wells Fargo Bank of Sioux Falls, S.D.

The Ragons bought the property for $934,000 in June 2001 from Gaston Gibson Jr. and his wife, Julia.