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

A 3,806-SF house in midtown Little Rock’s Ranch Hill neighborhood is under new ownership after a $635,000 sale.

Michael and Aimee Shelby acquired the house from the 300 McMillen Trail Revocable Trust, led by Andrew and Jennifer Adkins.

The deal is financed with a 30-year loan of $350,000 from Bank of Little Rock Mortgage Corp.

The residence previously was linked with a September 2010 mortgage of $417,000 held by Bank of England and a May 2013 mortgage of $160,000 held by Delta Trust & Bank of Little Rock.

The property was bought for $599,000 in July 2010 from Daniel Knight and Chet Roberts.

Oaks House I

A 3,402-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development rang up a $608,000 deal.

William and Robin McNulty purchased the house from Taylor and Gail French. The deal is backed with a 15-year loan of $417,000 from Simmons First National Bank of Pine Bluff.

The residence previously was tied to a May 2007 mortgage of $750,000 held

by Commercial Bank & Trust of Paris, Tenn.

The French family acquired the property for $665,000 more than six years ago from David Pickering Jr. and his wife, Janna.

Oaks House II

A 3,786-SF home in The Oaks neighborhood of west Little Rock’s Chenal Valley development drew a $560,000 transaction.

The Jerry M. Spears & Donna Sue Spears Trust bought the house from Edward Hanson and Shirley Rockenbaugh.

The residence previously was linked with an October 2005 mortgage of $359,650 held by Little Rock’s Bank of the Ozarks.

The property was purchased for $649,000 eight years ago.

The seller was Pickering Inc., led by David Pickering Sr.

Lamarche Residence

A 3,306-SF home in the Lamarche neighborhood of west Little Rock’s Chenal Valley development sold for $544,000.

Lance and Sherry Burchett acquired the house from Daniel and Suzanne Wren.

The deal is funded with a 15-year loan of $417,000 and a five-year loan of $99,325 from Metropolitan National Bank.

The residence previously was tied to a November 2010 mortgage of $275,000 held by Bank of Little Rock Mortgage Corp.

The Wrens bought the property for $446,000 in April 2002 from Billy Hartness Construction Co.

 

 

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