Brothers Set to Flip Stadium Land
by March 12, 2007 12:00 am 64 views
Imagine turning a $330,000 investment into $7.25 million in less than five years.
Sound too good to be true?
It may not be for Jim and Thang Nguyen (pronounced “Win”). Four years ago, the brothers purchased 14.5 acres that now border the site selected for a minor league baseball stadium in west Springdale.
The Nguyens are from California and own three nail salons in Fayetteville and Farmington as well as other investment property.
Carole Kelley of Global Network Realty in Fayetteville is listing the land for $7.25 million. The property is zoned rural, so the buyer can have it zoned for their particular needs.
It’s also on a two-year listing agreement instead of the normal six months, which shows the Nguyens are in no rush to sell.
That’s wise since the $50 million stadium isn’t expected to open until April 2008 and the value of the land should only continue to go up. Incidentally, the city purchased the 40 acres for the stadium for $3.8 million last October.