Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    226 Union St, Unit 1-11 Jonesboro, AR 72401

    Sponsored
    For Sale
    $2,650,000

    Apartments - Jonesboro, AR

    Property size:
    8,000 SF
    Lot size:
    0.22 Acres
    Days on Market:
    264
    Last Refresh:
    Feb 2 at 1:06 am

    Property Features for 226 Union St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Multi Use
    Parking features
    Carport
    Interior features
    Washer-stays, Dryer-stays, Hot Water Heater-gas, Smoke Detector
    Exterior features
    Fully Fenced
    Fencing
    Fenced, Full
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Refrigerator, Washer
    Size
    8,000 SF
    Lot size
    0.22 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2015
    Floors in Building
    2
    Number of units
    11
    Flooring type
    Vinyl
    Building materials
    Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Bill Pressly
    Bill Pressly

    Arnold Group Real Estate (870) 932-2600

    Listing agent Bill Pressly (870) 932-2600

    Listing date May 15, 2025

    MLS# 25013344 Listing URL

    Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Luxury Lofts in Downtown Jonesboro

    This multifamily property in Downtown Jonesboro features eleven units, including nine 2-bedroom, 2-bath units and two 1-bedroom, 1-bath units. Each unit boasts floor-to-ceiling windows, exposed brick, tall ceilings, and an open, modern layout. Private entrances enhance privacy and safety for tenants. The units are fully equipped with appliances, including high-end GE washers and dryers, dishwashers, microwaves, custom cabinetry, and stylish IKEA lighting. Tenants also have access to expanded cable and internet. The property includes gated parking with 8 spots, supplemented by ample street parking. Residents can enjoy two private decks with a fire pit. Situated one block from the Downtown Entertainment District and in close proximity to ASU and medical centers, the property offers a desirable location. The property is zoned for multi-use and occupies a 0.22-acre lot. The building size is approximately 8000 square feet. This property presents an investment opportunity with its low maintenance costs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.705484
    Latitude
    35.841082

    Nearby Similar for Sale

    • $1,250,000
      3,362 SF

      Exceptional Medical Office in Jonesboro

      Inviting dental office with modern equipment and calming atmosphere.
      906 Osler Dr, Jonesboro, AR 72401
      View Details
    • $1,250,000
      3,362 SF

      Dental Office with Patient Rooms

      Well-appointed dental office with patient and recovery rooms.
      906 Osler Dr, Jonesboro, AR 72401
      View Details
    • $2,250,000
      20,000 SF

      Versatile Mixed-Use Building in Jonesboro

      Multi-level commercial building with income potential in historic downtown.
      311 S Main St, Jonesboro, AR 72401
      View Details
    • $249,900
      3,358 SF

      Jonesboro Fourplex Near University

      Four-unit multifamily property near Arkansas State University, Jonesboro.
      1900 Cedar Heights Dr, Jonesboro, AR 72401
      View Details
    • $1,695,000
      10,200 SF

      High-Traffic Corner Commercial Opportunity

      4.12 acres with four buildings, ideal for redevelopment.
      5312 Stadium Blvd, Jonesboro, AR 72404
      View Details
    • Contact for pricing
      9,224 SF

      Custom Office Building in Jonesboro

      Furnished office building in Windover Office Park, Jonesboro.
      2804 Longview Dr, Jonesboro, AR 72401
      View Details
    • $460,000
      10,800 SF

      Self-Storage Investment Near University

      Self-storage property with 75 units near Arkansas State University.
      403 Jonathan Dr, Jonesboro, AR 72405
      View Details
    • $2,999,900
      31,383 SF

      High-Performing Investment Portfolio Opportunity

      34-door investment portfolio in Jonesboro and West Memphis, Arkansas.
      23 Property Portfolio Jbr & Wm, Jonesboro, AR 72401
      View Details
    • $925,000
      1,980 SF

      Turn Key Apartment Investment

      Well-maintained 2 bed, 1 bath apartments in Jonesboro, AR.
      1012 N Main St, Jonesboro, AR 72401
      View Details
    • $460,000
      10,800 SF

      Jonesboro Self-Storage Investment Opportunity

      Self-storage property with 75 units near Arkansas State University.
      403 Jonathan Dr, Jonesboro, AR 72401
      View Details
    • $2,782,750
      111.31 Acres

      Jonesboro Farm and Ranch Land

      111-acre farm/ranch property in Jonesboro, Arkansas, ideal for livestock.
      279 County Road 342, Jonesboro, AR 72401
      View Details
    • $350,000
      2,350 SF

      Downtown Jonesboro Office Building

      2,300 SF office building in the heart of Jonesboro.
      404 S Main St, Jonesboro, AR 72401
      View Details

    FAQs

    What type of property is this?
    Apartment building - Downtown Jonesboro luxury lofts with modern layouts and amenities.
    Where is this apartment building located?
    The property is located at 226 Union St, Unit 1-11 Jonesboro, AR.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: - Prime Downtown Jonesboro location, one block from the Entertainment District and close to ASU and medical centers.; - Consists of **eleven luxury loft units**: nine 2-bedroom/2-bath and two 1-bedroom/1-bath.; - Units feature **modern layouts with floor-to-ceiling windows, exposed brick, and tall ceilings.**
    (870) 919-3990
    Request Owner's contact information
    226 Union St, Unit 1-11 Jonesboro, AR 72401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    226 Union St, Unit 1-11
    Jonesboro, AR 72401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    226 Union St, Unit 1-11 Jonesboro, AR 72401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bill Pressly
    Bill Pressly
    (870) 919-3990
    Learn more
    Google sign-in failed. Please try again or use another login method.