Freestanding Commercial
For Sale
$399,000
1024 S Gee Street, Jonesboro, AR 72401
Adaptable interior offers potential for retail, office, service, or restaurant operations.
Property Size3,335 SF
Days on Market380
Property Features for 1024 S Gee Street
General Information
Standard status
Active
Size
3,335 SF
Total Parking Spaces
15
Property subtype
Commercial
Zoning
General Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
3,335 SF
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
Halsey Real Estate
(870) 219-3322
Listed By:
Kim Shelton · License #SA00085269
(870) 219-3322
Source:
Proeliterealty
Added: Aug 6, 2025
Changed: Aug 20
Last Checked: Aug 20 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Halsey Real Estate
Investment Insights
Based on property information with market context.
This freestanding commercial building was constructed in 1975 and previously operated as a restaurant. Its interior is currently configured for reworking, allowing a new owner to shape the space around a retail, office, service, or dining concept. General Commercial zoning is in place.
The property is located near downtown Jonesboro on S Gee Street, with access from a well-traveled roadway and on-site parking. The surrounding area includes established businesses and residential neighborhoods, providing a mix of commercial and residential context for the standalone storefront.
The property is located near downtown Jonesboro on S Gee Street, with access from a well-traveled roadway and on-site parking. The surrounding area includes established businesses and residential neighborhoods, providing a mix of commercial and residential context for the standalone storefront.
Key Highlights
- Freestanding commercial building at 1024 S Gee Street, Jonesboro, AR 72401
- Built in 1975
- Previously used as a restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,230
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$704,600
$704.6K
Cap Rate 7%
$503,286
$503.3K
Cap Rate 9%
$391,444
$391.4K
Market Conditions
NOI Build-Up for 3,335 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.0K $15.00/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$47.0K $14.09/SF
− OpEx
−$11.7K −$3.52/SF
NOI
$35.2K $10.56/SF
Area
Craighead County, AR
Vacancy
6.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$704,600
Cap Rate 7%
$503,286
Cap Rate 9%
$391,444
Alternative Uses
Best Use
Specialty Retail
$503.3K
$440.4K – $587.2K
NOI $35,230 @ 7.0% cap · market cap 8.83%
Second Best
Retail
$405.9K
$355.1K – $473.5K
NOI $28,410 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$583.9K
$510.9K – $681.2K
NOI $40,871 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
286
Businesses Nearby
16k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
SONIC Drive In
Dining
11,364 visits/mo
0.4 miles
Valero Energy
Shops & Services
3,543 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
755 visits/mo
0.5 miles
Demographics for 72401, AR
43,127
Population
19,328
Households
2.2
Avg Household Size
33
Median Age
23%
College-Educated
89%
High-School Grad
88.5 sq mi
ZIP Area
487
Density / Sq Mi
$43,412
Median Household Income
$32,970
Median Earnings
$897
Median Rent
$185,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cooksey's Flower Shop — 1006 Flowerland Dr, Jonesboro, AR 72401
Frequently Asked Questions
What type of property is this?
Storefront property - Adaptable interior offers potential for retail, office, service, or restaurant operations.
Where is this storefront property located?
The property is located at 1024 S Gee Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Freestanding commercial building at 1024 S Gee Street, Jonesboro, AR 72401; Built in 1975; Previously used as a restaurant
