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    3009 TURMAN DRIVE Jonesboro, AR 72404

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    For Sale
    $1,375,000

    Traditional, Building and Land - Jonesboro, AR

    Property size:
    6,912 SF
    Lot size:
    9,999.00 Acres
    Price / SF:
    $198/SF
    Added:
    Jan 1, 2024
    Days on Market:
    854
    Last Refresh:
    May 4 at 10:06 am

    Property Features for 3009 TURMAN DRIVE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    36
    Standard status
    Active
    Size
    6,912 SF
    Lot size
    9,999.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4930

    Utilities

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

    Building Details

    Floors in Building
    1
    Flooring type
    Other
    Building materials
    Other, See Remarks
    Roof type
    Other, See Remarks
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Steve Collar
    Steve Collar

    Listing agent Steve Collar

    Listing office Halsey Real Estate 301 W. Washington Ave, Suite 200, Jonesboro, AR

    Listing date Jan 1, 2024

    MLS# 24000017 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.

    Overview

    Versatile Building and Land Package

    The properties located at 3009 and 3013 Turman Drive are being sold together. The building at 3009 Turman Drive includes multiple suites. Suite A features 6 offices, 2 bathrooms, and a kitchen. Suite B contains 1 office, a front foyer, a large conference room, 2 bathrooms, a storage room, and a kitchen. Suite C offers a front foyer, 5 offices, 2 bathrooms, and a kitchen. The building at 3013 Turman Drive includes a suite currently leased as a hair salon (Suite B), which features a foyer, 5 hairdressing booths, 2 bathrooms, and a kitchen. Suite A in the 3013 Turman Drive building can be finished to suit and is set up to have 2 bathrooms and a kitchen. The combined properties offer potential for office or retail use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michael Holder Foster Care Service Curb Appeal Real ... Property Management Company Discover Church Church Arkansas Counseling Associates Counselor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.668204
    Latitude
    35.794211

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    FAQs

    What type of property is this?
    Office units - Multi-suite building suitable for office or retail use.
    Where is this office units located?
    The property is located at 3009 TURMAN DRIVE Jonesboro, AR.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: Multiple suites offer diverse usage possibilities.; Existing lease in 3013 Turman (Suite B hair salon) provides immediate income potential.; 3009 Turman is equipped with multiple offices, ideal for professional services.
    (870) 316-0312
    We can help!
    Listing Contact
    Steve Collar
    Steve Collar
    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.

    More about this property
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    3009 TURMAN DRIVE, Jonesboro, AR 72404

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