The former Resort Ford dealership, near Oaklawn Racing Casino Resort in Hot Springs, sold at auction last month for $902,000. Ken Blackmon, the new owner, said the property will either be leased or sold.
Blackmon bought the property through Blackmon Commercial Properties LLC of El Dorado.
He told Arkansas Business Tuesday that four or five entities interested in leasing the property have already been in touch with him. Blackmon also said it’d be a great place to put a hotel or motel, with the previously announced $100 million expansion of Oaklawn underway.
That expansion is why he felt now was the right time to buy the dealership.
Blackmon also said the property could be leased as a whole or split up into parts.
Wilson Real Estate Auctioneers Inc. of Hot Springs sold the dealership for Steve Storey; it attracted bidders from Hot Springs, Jonesboro, Little Rock and Memphis.
Doug Westgate with Wilson Real Estate Auctioneers said in a news release, “We have been discussing the auction process with Steve for the past few years, but with Hot Springs’ implementation of the ‘opportunity zone’ and the expansion of Oaklawn Racing Casino Resort, it seemed like a perfect time to put this dealership on the auction block.”
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