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Kings Inn leases Oak Street home as office space

Posted: March 7, 2014 - 6:02pm
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The owners of Kings Inn on Oak Street purchased the home at 240 Oak St. in December 2012 for $280,000. With a few renovations, they plan to lease the home as office space.
The owners of Kings Inn on Oak Street purchased the home at 240 Oak St. in December 2012 for $280,000. With a few renovations, they plan to lease the home as office space.

The owners of Kings Inn hotel on Oak Street are renovating the nearly 50-year-old home next to their hotel into leasable office space.

B.C. Patel bought the 1,701 square-foot house at 240 Oak St. in December 2012 from James and Betty Deaton for $280,000.

In the same transaction, Patel also bought the 4,210 square-foot warehouse behind the home that used to be Capcoats, a truck accessory and supply store.

The single family, one story home was built in 1965. It has three bedrooms, one full bathroom, a half bath, kitchen, dining room and living room with central heating and air.

Rooms have hard wood flooring and have been given a fresh coat of paint. The backyard warehouse property has water and electricity.

Patel owns the Kings Inn hotel and Liberty Tax Service in the lot to the east of the property. The acreage amount is not available through Faulkner County property assessor records, but Patel estimates it to be about one and a half acres.

Patel said he hopes to one day sell the lots collectively to a developer, but for now, he’s looking to lease the house to a small business owner for a monthly rate of about $1,200.

Bryan Patrick, director of planning and development for the City of Conway, said the home is zoned appropriately for use as an office or retail space. The lot is currently zoned C-3, Intensive Commercial or Highway Shopping District.

Patel said he thinks the house is well suited for a beauty salon, with an open living room and three bedrooms for specialized services like manicures and pedicures.

An insurance company has already toured the home, Patel said.

Business owners interested in leasing the home as office space can contact Patel at 501-470-5096 or Patel’s son T.J. at 501-851-3297.

(Staff writer Michelle Corbet can be reached by email at michelle.corbet@thecabin.net or by phone at 505-1215. Send us your news at www.thecabin.net/submit)

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