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    2929 S Caraway Rd Jonesboro, AR 72401

    View on Map
    Sponsored
    For Lease
    $14 SF/Yr ($1,487 /Mo)

    Retail - Jonesboro, AR

    Type:Retail
    Property size:
    1,275 SF
    Lot size:
    2.67 Acres
    Days on Market:
    87
    Last Refresh:
    Mar 19 at 3:06 am

    Property Features for 2929 S Caraway Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    C-3
    Rooms
    Bathroom 1
    Bathrooms
    1
    APN
    01-144294-00500
    Size
    1,275 SF
    Lot size
    2.67 Acres

    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

    COLDWELL BANK VILLAGE COMMUNITIES (870) 935-7800

    Listing agent Chase Copeland (870) 935-7800 License #SA00095147

    Listing date Dec 22, 2025

    MLS# 10121752 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.

    Learn more

    Property Insight Report

    Overview

    High-Visibility Retail/Office Space Available

    This well-positioned center is located at the corner of S. Caraway Road and Browns Lane access road, offering visibility from I-555. The location provides access to potential customers. Anchored by a medical cannabis dispensary, the center benefits from daily foot traffic. Traffic counts include 36,000 cars per day along I-555 and 24,000 cars per day on Caraway. The property is zoned C-3 and is suitable for medical, office, or retail use. Units start at 1,275 square feet, with ownership open to custom build-outs to accommodate tenant needs, subject to negotiated terms. The property has a lot size of 2.67 acres. This location offers potential for growing a business in a dynamic area.
    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/office units with high traffic and build-out options.
    Where is this retail space located?
    The property is located at 2929 S Caraway Rd Jonesboro, AR.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - High Visibility Location: Corner lot with excellent visibility from I-555.; - Strong Traffic Counts: 36,000 CPD on I-555 and 24,000 CPD on Caraway Road.; - Anchored by Popular Tenant: Benefits from the established foot traffic of CROP medical cannabis dispensary.
    (870) 819-6395
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    2929 S Caraway Rd Jonesboro, AR 72401
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    Jonesboro, AR 72401
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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.

    More about this property
    2929 S Caraway Rd Jonesboro, AR 72401
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    We can help!
    Listing Contact
    Chase Copeland
    Chase Copeland
    Real Estate License ID: SA00095147
    (870) 819-6395 (870) 935-7800 (870) 272-8600
    Learn more
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