All-Star Sports Arena Still for Sale
by May 4, 2009 12:00 am 66 views
The All-Star Sports Arena in Springdale is still on the market, now at a heavy discount.
Back in 2007, we reported that the asking price for the ASSA was $6.26 million. According to the latest listing at bizbuysell.com, the price has now dropped to $4.75 million.
While the listing notes ASSA is exempt from most state sales tax, Washington County property records indicate the ASSA is currently delinquent on its property taxes for 2005, 2006 and 2007.
Taxes assessed for 2008 were $52,869.
The five-year old, 130,000-SF building situated on 7 acres with 284 parking spaces features eight basketball or nine volleyball courts, two indoor soccer fields with FieldTurf, an 11,000-SF fitness center, gaming arcade, aerobics studio, 0.2-mile indoor track and a daycare room.
The listing at bizbuysell.com says the property appraised for $4.9 million in 2005 and reports annual income of $1.15 million.
The listing does need at least one update, though, as it still touts itself as a host for the Real Deal on the Hill basketball tournament. That event was moved to Little Rock this year and was renamed Real Deal in the Rock.
There’s no mention on the listing if paying past due property taxes is part of the purchase price.