Mapco Development Trails $1.1M Site Assembly (Real Deals)

by George Waldon  on Monday, Oct. 14, 2013 12:00 am  

The 1.6 acre development for Mapco, approximately shown in red, sits just west of Interstate 430. (Photo by map data by Google)

A Mapco convenience store project is in the works in the Otter Creek area of west Little Rock after a combined $1.1 million assembly deal.

NTI Stagecoach Road LLC of Brentwood, Tenn., put together 1.6 acres by purchasing a car wash at 8015 Stagecoach Road for $700,000 and the Jive in Java project at 8101 Stagecoach Road for $355,000.

The 0.95-acre car wash development was sold by Miracle Clean Inc., led by Hank van Rossum. The 0.69-acre coffee shop development was sold by Bernard and Joan Clark.

Construction is funded with a 26-year loan of $2.09 million from Standard Mortgage Investors LLC of Hillsboro, Ore.

The car wash location was bought in March 2003 as part of a $380,000 transaction with Carter Oil Co. of Benton.

The project previously was tied to a November 2008 mortgage of $661,840 held by Metropolitan National Bank of Little Rock.

The Clarks acquired the coffee shop land for $190,000 in May 2007 from Miracle Developments Inc., led by Bill Keathley.

Deep Water Purchase

A watering hole near Maumelle changed hands in a $265,000 transaction.

Deep Water Investments LLC, led by Cliff McKinney, bought Ton’s Place Bar & Grill at 18814 MacArthur Drive from Jimmy and Danette Fiddler.

The Fiddlers purchased the 0.2-acre location in June 1989 as part of a $250,000 deal with Lenore Wisdom.

Ranch Hill Abode

 

 

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