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    2929 S Caraway Road Jonesboro, AR 72401

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    Claim this Listing
    For Lease
    $13 SF/Yr $7,984/Mo (calc)

    Retail - Jonesboro, AR

    Type:Retail
    Property size:
    7,370 SF
    Lot size:
    2.67 Acres
    Added:
    May 5, 2025
    Days on Market:
    368
    Last Refresh:
    May 7 at 12:06 am

    Property Features for 2929 S Caraway Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3
    Standard status
    Active
    APN
    01-144294-00500
    Size
    7,370 SF
    Lot size
    2.67 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Building materials
    Brick, Stucco
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Chase Copeland
    Chase Copeland

    Listing agent Chase Copeland License #SA00095147

    Listing office Coldwell Banker Village Communities Inc 2704 S Culberhouse #a, Jonesboro, AR

    Listing date May 5, 2025

    MLS# 10121763 Listing URL

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

    HighLights

    • Excellent visibility from I‑555.
    • High traffic counts: 36,000 CPD on I‑555 and 24,000 CPD on Caraway.
    • Anchored by a popular medical cannabis dispensary (CROP) generating strong foot traffic.
    • Convenient access from S. Caraway Road and Browns Lane access road.
    • Units start at 1,275 SF suitable for medical, office, or retail use.
    • Ownership open to custom build‑outs to accommodate tenant needs.

    Overview

    High-Visibility Retail/Office Space Available

    This well-positioned commercial center is located at the corner of S. Caraway Road and Browns Lane access road. The location provides excellent visibility from I-555 and convenient access for customers. The center is anchored by a medical cannabis dispensary, which contributes to consistent daily foot traffic. Traffic counts show 36,000 cars per day along I-555 and 24,000 cars per day on Caraway Road. The property, with a lot size of 2.67 acres, is suitable for a range of uses, including medical, office, or retail. Units start at 1,275 square feet. The owner is open to custom build-outs to accommodate tenant needs, subject to negotiated terms. The property is located in Jonesboro, AR, with the postal code 72401-7348, in Craighead County. The property offers potential for business growth in a dynamic area. The property size is 7,370 square feet. The listing price is $13.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Millenium MRI Medical Clinic Arkansas Weight Loss ... Weight Loss Service McKee Amy K ... Alternative Medicine Practice Jonesboro Pharmacy Solutions Pharmacy Sugar Magnolia Compassionate ... Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Auto Repair Shop Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.679977
    Latitude
    35.808752

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    FAQs

    What type of property is this?
    Retail space - Retail and office units with high traffic and visibility.
    Where is this retail space located?
    The property is located at 2929 S Caraway Road Jonesboro, AR.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Excellent visibility from I‑555.; High traffic counts: 36,000 CPD on I‑555 and 24,000 CPD on Caraway.; Anchored by a popular medical cannabis dispensary (CROP) generating strong foot traffic.
    (870) 819-6395
    We can help!
    Listing Contact
    Chase Copeland
    Chase Copeland
    Real Estate License ID: SA00095147
    Learn More
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    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.

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    2929 S Caraway Road, Jonesboro, AR 72401-7348
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