Mellor Park Mall – El Dorado, AR

1826-2133 N West Ave - El Dorado, AR 71730

Sands Investment Group is pleased to exclusively offer for sale the 237,519 SF Mellor Park Mall located at 1826–2133 N West Ave in El Dorado, AR. As the dominant shopping destination in El Dorado, Mellor Park Mall features a mix of strong national retailers, including TJ Maxx, Hobby Lobby, Dollar Tree, Bealls, Citi Trends, Shoe Show, and Applebee’s. The vacancy and potential redevelopment of the oversized lot allow an investor to recognize NOI appreciation and potential future development, providing a secure investment with great returns.

  • Mellor Park is the dominant shopping center in El Dorado and boasts a strong national tenant mix, including TJ Maxx, Hobby Lobby, Dollar Tree, Bealls, Citi Trends, Shoe Show, and Applebee’s.
  • The property is a value-add regional mall that is currently 81.5% occupied, creating an opportunity for NOI appreciation by filling the vacant suites, with a pro forma NOI estimated at $1,638,596 compared to the current NOI of $1,223,208.
  • TJ Maxx and Citi Trends both report exceptional sales — reach out for details.
  • Future development is supported by the large rear parking field, which offers approximately 5 acres of land with redevelopment potential.
  • The site includes three pad sites, including Applebee’s, Yamato Japanese Restaurant, and Red River Credit Union, providing flexibility in the future exit strategy.
  • Bealls has executed a 10-year lease and just opened for business in October 2024.
  • Starbucks (not part of the offering) opened for business in 2025, demonstrating the strength of the location.
  • El Dorado is home to Murphy USA (3,500 employees), Delek US Holdings
    (600 employees), Lanxess (500 employees), South Arkansas Regional Hospital (860 employees), and South Arkansas Community College (1,253 students), providing a stable and growing economy.
  • Arkansas is a non-disclosure state and is well known for being businessfriendly, recently named the #3 state to start a business (Forbes 2023).

 

In Cooperation With Sands Investment Group Arkansas, LLC – Lic. #PB00085157 BoR: Andrew Ackerman – Lic. AR #PB00085157

1826-2133 N West Ave - El Dorado, AR 71730

TJ MAXX

TJ Maxx was founded in 1976, and together with Marshalls in the U.S., forms Marmaxx, the largest off-price retailer of apparel and home fashions in the U.S. With stores across the country, including Puerto Rico, TJ Maxx also operates an ecommerce site, tjmaxx.com, which launched in 2013. It is a Subsidiary of TJX Companies, Inc. There are 1,316 TJ Maxx stores in the United States as of September 10, 2024. The TJX Companies, Inc., a Fortune 100 company, is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. Our mission is to deliver great value to customers every day. We do this by offering a rapidly changing assortment of quality, fashionable, brand-name, and designer merchandise at prices generally 20% to 60% below full-price retailers’ regular prices on comparable merchandise. We operate over 5,000 stores across nine countries, including TJ Maxx, Marshalls, HomeGoods, Homesense, and Sierra in the U.S.; Winners, HomeSense, and Marshalls in Canada; TK Maxx and Homesense in Europe, and TK Maxx in Australia. We also operate e-commerce sites for TJ Maxx, Marshalls, and Sierra in the U.S. and three sites for TK Maxx in Europe.

 

HOBBY LOBBY

In 1970, David and Barbara Green took out a $600 loan to begin making miniature picture frames in their home. Two years later, the fledgling enterprise opened a 300- square-foot store in Oklahoma City, and Hobby Lobby was born. Today, with more than 1,000 stores, Hobby Lobby is the largest privately owned arts-and-crafts retailer in the world, with over 46,000 employees and operating in forty-eight states. Hobby Lobby offers over 70,000 items featuring home decor, seasonal decor, tableware, floral, art supplies, craft supplies, yarn, fabric, jewelry making, hobbies, and much more. Corporate headquarters include over 12 million square feet of manufacturing, distribution, and an office complex in Oklahoma City. Mardel Christian and Education Supply, an affiliate company, offers books, Bibles, gifts, church and education supplies, as well as homeschooling curriculum. Hobby Lobby also maintains offices in Hong Kong, Shenzhen, and Yiwu, China. What began as a $600 start-up continues to grow and expand, enabling customers across the nation to live a creative life.

 

APPLEBEE’S RESTAURANTS

As one of the world’s largest casual dining brands, Applebee’s Neighborhood Grill + Bar serves as America’s kitchen table, offering guests a lively dining experience that combines simple, craveable American fare with classic drinks and local drafts. Applebee’s makes it easy for family and friends to connect, whether it’s in a dining room or in the comfort of a living room. Eatin’ Good in the Neighborhood™ is a familiar and affordable escape from the everyday. Applebee’s restaurants are owned and operated by entrepreneurs dedicated to more than serving great food, but also building up the communities that we call home. From raising money for local charities to hosting community fundraisers, Applebee’s is always Doin’ Good in the Neighborhood®. Applebee’s franchise operations consisted of 1,625 Applebee’s restaurants in the United States, two U.S. territories, and 12 countries outside the United States as of June 30, 2024. Applebee’s is franchised by subsidiaries of Dine Brands Global Inc. [NYSE: DIN], which is one of the world’s largest full-service restaurant companies.

 

BEALLS

Headquartered in Bradenton, Florida, since 1915, Bealls Inc. is a privately held company that has been owned and operated by the founding family for over 100 years. The company’s mission is to offer shoppers great prices on the latest trends. Bealls sells a wide variety of items. The company operates more than 600 retail stores in 23 states under the names Bealls, Bealls Florida, Home Centric, and Rugged Earth Outfitter, and online at beallsflorida.com and beallsoutlet.com. Soon after, Bealls acquired Stage Stores, In,c. which added 87 new stores, a distribution center in Texas, and, importantly, the rights to use the Bealls name in all 50 states. In 2021, the first Rugged Earth Outfitters stores opened, introducing a new shopping experience featuring fishing, hiking, hunting, and workwear. With more than 550 Bealls stores across the country and www.bealls.com online shopping, you’re able to shop with confidence that you’re getting the best value on the best items and the best prices.

 

DOLLAR TREE

Dollar Tree, Inc., is North America’s leading operator of discount variety stores selling everything for $1 or less. Dollar Tree, a Fortune 200 Company, operated 16,397 stores across 48 states and five Canadian provinces as of May 4, 2024. Family Dollar offers a compelling mix of merchandise for the whole family. Ranging from an expanded assortment of refrigerated and frozen foods, health and beauty items, to home décor and seasonal items. Dollar Tree carries a broad, exciting mix of consumable, variety, and seasonal merchandise that includes many trusted national and regional brands. Some of the product departments you’ll find at Dollar Tree include housewares, glassware, dinnerware, cleaning supplies, candy, snacks, food, health and beauty, toys, gifts, gift bags and wrap, party supplies, stationery, craft supplies, teaching supplies, books, seasonal décor, and so much more.

 

CITI TRENDS

Citi Trends, Inc. is a leading specialty value retailer of apparel, accessories, and home trends for way less spend, primarily for African American and multicultural families in the United States. Founded in 1946 and headquartered in Savannah, GA, we operate over 600+ stores in 33 states. For over 75 years, Citi Trends has been dedicated to bringing fresh and fashionable merchandise to our customers and the communities we serve. Our product offering includes the hottest brands and latest trends of clothing, shoes, accessories, homedécoro, and so much more, making us a convenient one-stop shop for the entire family from infants to adults. We are passionate about delivering quality products at prices up to 50% less than other stores.

Price

$12,900,000

Cap Rate

9.48%

PREMISES

298,000 SF

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

Lease Type

Varies

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