3 Fayetteville Townhome Projects Sell for $10.2M (NWA Real Deals)

3 Fayetteville Townhome Projects Sell for $10.2M (NWA Real Deals)
These Hyman townhome properties on West Hughes Street in Fayetteville were built in 2020. (Washington County Assessor / Eagleview)

Investors from Idaho paid $10.2 million for three student townhome projects in Fayetteville.

Ronald Alan and Kaylyn Hyman, of Eagle, Idaho, bought the properties through their Hyman Family Trust entity.

The Hymans paid $4.425 million for 16 units, which are located on North Storer Avenue, West Hazel Street and Oakland Avenue.

They paid $3.55 million for 10 units on Hughes Street and $2.225 million for eight units on Sang Avenue.

Simmons Bank provided loans of $3.3 million, $2.5 million and $1.6 million for the transactions.

The seller of all three projects was T.J. Lefler, who is an executive vice president with Cushman & Wakefield/Sage Partners in Rogers. Lefler paid a total of $1.2 million for the land beginning in 2016 and had the townhomes built.

Lefler Take 2

A Seattle construction executive paid nearly $1.6 million for a home on East Township in Fayetteville.

John Dellinger and his wife, Carina, bought the 5,173-SF residence to serve as a second home, according to a rider in the contract. The Dellingers got a $750,000 loan from the Navy Federal Credit Union.

The sellers were James and Jacqui Lefler through their Kirby Family Trust. The Leflers acquired the property for $1.3 million in 2016 from Shelby Field, who paid $1.5 million for it in 2014.

Both of those purchases were among the most expensive home sales in northwest Arkansas.

Torchy’s Tacos

A 4,853-SF restaurant on Martin Luther King Jr. Boulevard in Fayetteville sold for $2.9 million.

Rick Ashley of North Little Rock, through his Conservative NWA LLC, bought Torchy’s Taco. Ashley owns a commercial real estate company, the Ashley Group.

The seller was Five & Two Holdings LLC, led by Marilyn Hoffman Taylor of Mesquite, Nevada. Taylor acquired the land as part of a $4 million deal in 2019, and Torchy’s and an oil change business were built.

College Avenue Office

A 35,524-SF office building on College Avenue in Fayetteville sold for $2.1 million.

The buyer was Stephen Robison of Cincinnati through his Beechmont Xtra Rentals LLC. Robison is an attorney who specializes in property exchanges.

The seller was CRM Capital Partners LLC, led by Mitchell Massey. Massey acquired the property from Metropolitan Bank for $300,000 in 2018.

Human Services

A Fayetteville investor paid $1.3 million for the 16,926-SF office building that houses the state’s Department of Human Services in Fayetteville.

Scott Peters, through his Cache Land & Timber Co. LLC, bought the property, which sits on 1.3 acres on North Frontage Road. Chambers Bank provided a loan of $1.04 million.

The seller was Cherry Ridge LLC, led by Robert Nolan of El Dorado.

Royal Inn

Fayetteville investors paid $1.16 million for the Royal Inn in Springdale.

Sky Limit Hospitality LLC, led by Bhupendrakumar Patel and Amrutlal Patel, bought the 30-unit motel on North 48th Place. The motel sits on 1 acre and totals 10,906 SF.

Armstrong Bank provided a $928,000 loan.

The seller was Neil Hospitality Inc. of Tulsa, led by Mahendrakumar Patel.

Stearns Office

A real estate owner paid $1.05 million for a 5,575-SF office building on Stearns Street in Fayetteville.

Nick Limbird, through his NWA Metro Holdings LLC, bought the property, which just north of Joyce Boulevard. Limbird is executive broker of the Limbird Real Estate Group in Rogers.

First National Bank of Fort Smith provided a loan of slightly more than $1 million.

The seller was Daugherty & Daugherty Properties LLC, led by Jason and Robert Daugherty. The Daughertys acquired the property for $890,000 in 2016.