Office Building with 51 Parking
For Sale
Contact for pricing
1709 E Highland Dr, Jonesboro, AR 72401
Office building with 29 private offices and two conference rooms, plus 51 on-site parking spaces.
Property Size14,418 SF
Price / SF$197.67
Days on Market153
Property Features for 1709 E Highland Dr
General Information
Standard status
Active
Size
14,418 SF
Property subtype
OFFICE
Listing Agency:
Colliers - Little Rock
(501) 372-6161
Listed By:
Isaac Smith, CCIM, SIOR · License #PB00002766
(501) 231-1913
Source:
Moodyscre
Added: Apr 14
Changed: Sep 10
Last Checked: Sep 13 at 11:10AM
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 Colliers - Little Rock
Investment Insights
Based on property information with market context.
This office building offers 14,418 RSF with a layout that includes 29 private offices and two conference rooms. The property is situated on approximately 2.05 acres and provides 51 parking spaces on-site.
The building has quick access to I-555 and is located on a major arterial in Jonesboro at a signalized intersection. Public remarks also note approximately 19,000 vehicles per day on E. Highland Drive.
The available office configuration supports team-based work across multiple enclosed offices, with conference room space for meetings and collaboration.
The building has quick access to I-555 and is located on a major arterial in Jonesboro at a signalized intersection. Public remarks also note approximately 19,000 vehicles per day on E. Highland Drive.
The available office configuration supports team-based work across multiple enclosed offices, with conference room space for meetings and collaboration.
Key Highlights
- 14,418 RSF office building on +/- 2.05 acres
- 29 private offices plus two conference rooms
- 51 on‑site parking spaces
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
$134,745
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
4.73%
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%
$2,694,900
$2.7M
Cap Rate 7%
$1,924,929
$1.9M
Cap Rate 9%
$1,497,167
$1.5M
Market Conditions
NOI Build-Up for 14,418 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
$204.2K $14.16/SF
− Vacancy
−$24.5K −$1.70/SF
EGI
$179.7K $12.46/SF
− OpEx
−$44.9K −$3.12/SF
NOI
$134.7K $9.35/SF
Area
Craighead County, AR
Vacancy
12.00%
Lease Rate
$14.16 /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%
$2,694,900
Cap Rate 7%
$1,924,929
Cap Rate 9%
$1,497,167
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.25M
NOI $134,745 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,695 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Office building with 29 private offices and two conference rooms, plus 51 on-site parking spaces.
Where is this office building located?
The property is located at 1709 E Highland Dr Jonesboro, AR.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 14,418 RSF office building on +/- 2.05 acres; 29 private offices plus two conference rooms; 51 on‑site parking spaces
