Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Land Near Arkansas State Title is generated by Realmo AI

    3.67 Acres Melrose Street, Jonesboro, AR 72401

    View on Map
    Claim this Listing
    For Sale
    $1,258,000

    Commercial Lot - Jonesboro, AR

    Lot size:
    3.67 Acres
    Added:
    Feb 15, 2026
    Days on Market:
    95
    Last Refresh:
    May 21 at 10:06 am

    Property Features for 3.67 Acres Melrose Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-3
    Standard status
    Active
    APN
    01-144171-23900 and 27600
    Lot size
    3.67 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    730

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Andrea Andrews
    Andrea Andrews

    Listing agent Andrea Andrews

    Listing office Compass Rose Realty 314 S. Main, Suite A, Jonesboro, AR

    Listing date Feb 15, 2026

    MLS# 26005884 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.

    HighLights

    • Prime Commercial Location: Zoned C‑3 and situated on 3.67 +/- acres.
    • High Traffic Area: Estimated daily traffic counts of 20,000.
    • Proximity to Key Locations: Across from Arkansas State University and near hospital, airport, retail, and dining.
    • Income Potential: Includes a 7‑unit retail strip center.
    • Multiple Access Points: Property runs block to block with two access points.
    • Additional Lot Available: A .65 +/- acre lot is available for separate purchase.

    Overview

    This commercial property, zoned C-3, is situated on 3.67 acres in Jonesboro, Arkansas. The property is located on Melrose Street and Russell Drive, across the street from Arkansas State University and near Northeast Arkansas Baptist Memorial Hospital, Jonesboro Municipal Airport, and local retail and dining establishments. The property runs block to block and has two access points or potential driveways. The estimated daily traffic count is 20,000.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.6829251
    Latitude
    35.8465854

    Nearby Similar for Sale

    • $649,000
      8,148 SF

      Two-Story Office Building in Jonesboro

      8,148 SF office complex with value-add potential in Jonesboro.
      1217 Stone Street, Jonesboro, AR 72401
      View Details
    • $649,000
      8,148 SF

      Two-Story Office Complex in Jonesboro

      8,148 SF office building with value-add potential.
      1217 Stone Street, Jonesboro, AR 72401-4520
      View Details
    • $479,000
      4,860 SF

      Jonesboro Commercial Property with Warehouses

      Two buildings on a fenced site with office and warehouse.
      3101 Dan Avenue, Jonesboro, AR 72401
      View Details
    • $479,000
      4,860 SF

      Jonesboro Flex Space For Sale

      Two buildings with office and warehouse space on fenced lot.
      3101 Dan Avenue, Jonesboro, AR 72401-8928
      View Details
    • $25
      4,000 SF

      Medical/Professional Office Space Available

      Prime medical/professional office space in Jonesboro's medical corridor.
      901 Osler Drive, Jonesboro, AR 72401
      View Details
    • $25
      3,007 SF

      Medical/Professional Office Space Available

      Prime medical/professional office space in Jonesboro's medical corridor.
      911 Osler Drive, Jonesboro, AR 72401
      View Details
    • $25
      4,520 SF

      Medical/Professional Office Space Available

      Prime medical/professional office space in Jonesboro's medical corridor.
      801 Osler Drive, Jonesboro, AR 72401
      View Details
    • $599,900
      7,708 SF

      Versatile Building in High-Traffic Location

      7,000+ sq ft building suitable for retail or industrial use.
      316 E Johnson, Jonesboro, AR 72401
      View Details
    • $289,000
      3,500 SF

      Jonesboro Automotive Shop with Lifts

      3500 SF automotive shop with 8 bays and lifts.
      714 S Gee, Jonesboro, AR 72401-6159
      View Details
    • $599,900
      7,708 SF

      Versatile Retail/Industrial Space in Jonesboro

      7,000+ sq ft building in high-traffic Jonesboro location.
      316 E Johnson Avenue, Jonesboro, AR 72401-2002
      View Details
    • $125,000
      2,640 SF

      Established Sushi & Hibachi Business

      Turnkey sushi and hibachi restaurant business for sale.
      1841 E Highland Dr, Jonesboro, AR 72401
      View Details
    • $600,000
      2,016 SF

      Jonesboro Commercial Site with Building

      Highly visible commercial site with existing building in active corridor.
      2901 E Parker Road, Jonesboro, AR 72404-7809
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.67 acre commercial lot in Jonesboro, Arkansas.
    Where is this commercial land located?
    The property is located at 3.67 Acres Melrose Street Jonesboro, AR.
    What is the asking price?
    The asking price for this property is $1,258,000.
    What are key features of this property?
    This property features: Prime Commercial Location: Zoned C‑3 and situated on 3.67 +/- acres.; High Traffic Area: Estimated daily traffic counts of 20,000.; Proximity to Key Locations: Across from Arkansas State University and near hospital, airport, retail, and dining.
    (870) 761-7774
    We can help!
    Listing Contact
    Andrea Andrews
    Andrea Andrews
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    3.67 Acres Melrose Street, Jonesboro, AR 72401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!