Capri Apartments for Sale
Capri Apartments, Blytheville. 186 apartments plus 15 commercial units.
A renovated mixed-use property on 13.81 acres in Mississippi County, one of the largest steel-producing counties in the United States.
Request the rent roll and financials
Capri Apartments, 205 West Moultrie Drive, Blytheville.
The property
| 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 |
Where it is
The property runs along North 2nd Street on both sides of West Moultrie Drive, one block from Kroger. Tap to enlarge. Imagery: Google.
Why this one is different
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.
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.
What to look at closely
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.
Colony Square, the commercial building at Capri, with interior suites for offices and small businesses.
Sold as a single property. Not divisible.
Get the rent roll and financials
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 and where leasing stands.
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. 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.