A prominent commercial property in Arkadelphia, the former Sears storefront on Pine Street, has been sold for $420,000 in one of the largest local real estate deals of the new year. The transaction is part of a series of significant property sales across Clark County, indicating a dynamic market for both commercial and residential real estate.
Key Takeaways
- The former Sears building at 2919 Pine St. was acquired by Malone Real Estate LLC for $420,000.
- Several residential properties in Arkadelphia sold for over $300,000, showing strong market values.
- Significant appreciation was noted in multiple sales, with some properties more than doubling in value in just a few years.
- Transactions also included large land parcels, such as a 72-acre timberland tract near Amity.
Top Commercial Sale Highlights Pine Street
The highest-value transaction recorded in Clark County in recent weeks was the sale of the 7,168-square-foot building that once housed Sears. Located at 2919 Pine Street, the property was purchased by Malone Real Estate LLC, an entity managed by Percy Malone.
The seller was Linda Calhoun, who had owned the property with her late husband, James, since 2003. Public records show they originally purchased the building for $400,000, indicating a stable value for the commercial space over two decades.
A Shift in Local Commerce
The sale of legacy retail spaces like the former Sears building often signals a transition in local economies. New ownership can lead to redevelopment or repurposing of key commercial corridors, potentially bringing new businesses or services to the area.
Residential Market Shows Strong Growth
The residential sector in Arkadelphia also saw robust activity, with several homes commanding high prices and demonstrating significant increases in value for sellers.
A 2,652-square-foot home in the Magnolia Estates subdivision on Apple Blossom Drive sold for $362,500. The sellers, Edwin and Penny Medley, had acquired the property for $209,000, realizing a substantial return on their investment. The new owners are Michael and Meredith Armstrong.
Another notable sale occurred on North Park Drive, where a 2,165-square-foot brick home was sold by Cynthia McDill to Austin Garcia for $312,000. McDill had purchased the residence in 2018 for $206,000.
Rapid Value Appreciation in Some Neighborhoods
One of the most striking examples of property value growth involved a home on North 4th Street. Price and Adeline Murphree sold their 1,604-square-foot house to Cynthia Turnbow for $255,000.
The Murphrees had purchased the North 4th Street property in 2022 for just $115,000, more than doubling their investment in approximately two years.
Following this sale, the Murphrees purchased a larger, 3,179-square-foot brick home on Cherry Street for $265,000 from seller Delma Sandifer, illustrating a common pattern of homeowners leveraging equity to upgrade within the local market.
Diverse Transactions Shape County Landscape
Beyond the high-value residential sales, a variety of other transactions highlight the diverse nature of Clark County's real estate market. These include rural land, newly developed properties, and homes in surrounding communities like Amity and Gurdon.
Key transactions include:
- A 1,676-square-foot home on 9.5 acres on Mount Zion Road sold for $240,000.
- A 1,848-square-foot brick home on South 23rd Street was purchased for $225,000, a significant increase from its 2000 sale price of $98,000.
- A 72-acre parcel of timberland near Amity was bought by Jonathan and Emma Zamorano for $220,000.
- A property on South Hinsley Street, purchased as land-only for $12,000 in early 2024, sold for $205,000, suggesting the construction of a new home.
In Amity, a 1,960-square-foot home on School Street changed hands for $200,000, sold by the Kenneth and Patricia Lyons Living Trust to Zachary and Keeli Buck.
These sales, ranging from established city homes to large rural tracts, reflect a healthy and varied real estate environment across Clark County. The consistent appreciation in property values suggests sustained demand and confidence in the local market heading into the new year.
