A renovated mixed-use property on 13.81 acres in Mississippi County, one of the largest steel-producing counties in the United States. Seller financing available with only 10 percent down.
Capri Apartments, 205 West Moultrie Drive, Blytheville.
| Address | 205 W Moultrie Drive, Blytheville, AR 72315 |
| Total units | 201 |
| Apartments | 186 |
| Commercial units | 15 |
| Lot size | 13.81 acres |
| Completed | 1970s |
| Renovated | 2024 through 2025 |
| Stories | 2 |
| Zoning | R-4 |
| Price | $12,500,000 |
| Appraised value | $15,815,000 |
| Seller financing | Yes, 10 percent down |
The property runs along North 2nd Street on both sides of West Moultrie Drive, one block from Kroger. Tap to enlarge. Imagery: Google.
Most of what trades in this market is apartments alone. Capri is apartments plus commercial frontage on one contiguous property: two income streams in one purchase and one closing. For a 1031 exchange buyer, that is a single clean identification.
Colony Square, the commercial frontage on West Moultrie Drive: retail storefronts, offices and an event space.
The seller has completed renovation across the property and reports that of the last 60 apartments finished, more than 40 are already leased. About a third of the units rent furnished, which is what traveling plant and construction crews look for.
The asking price is about 21 percent below the appraised value of $15,815,000. The appraisal is available on request.
The seller will carry the financing at 10 percent down. On a $12,500,000 purchase that is $1,250,000 to take control of 201 units and 13.81 acres, without waiting on a bank to underwrite a 1970s property in lease-up.
Rate and term are set with the seller. Ask for them along with the rent roll and we will put the whole structure in front of you, or call 512-850-6916 and we will walk you through it.
Blytheville is a steel town, and the steel is expanding. Mississippi County is one of the largest steel-producing counties in the United States, and the mills there have announced more than $1 billion in expansion. Capri is about 8 miles from Nucor-Yamato Steel and 22 miles from Big River Steel, on I-55 north of Memphis.
This is a 1970s property that has been renovated, not a new build. Leasing on the newly renovated units is still in progress, so current income reflects a property in lease-up rather than a stabilized one. The rent roll and profit and loss are available, and we will walk you through them.
One of the apartment buildings at Capri.
Sold as a single property. Not divisible.
Leave your name and email. We will send the rent roll, profit and loss and appraisal, and follow up to walk through what the renovation covered, where leasing stands and how the seller financing is structured.
Capri Apartments, 205 West Moultrie Drive, Blytheville, Mississippi County, Arkansas. 201 units: 186 apartments and 15 commercial units on 13.81 acres. Sold as one property. Seller financing available to qualified buyers at 10 percent down, remaining terms subject to agreement and credit review. Information provided by the seller and believed accurate but not warranted. Buyers should verify unit counts, occupancy, income, expenses, acreage and zoning independently. Listed by Mark Thomas, Auction Section, TX Broker 386889.