Seven-Unit Strip Retail
For Sale
$980,000
206 Melrose Street, Jonesboro, AR 72401
C-3-zoned commercial center with updated building systems, tenant signage, and on-site parking.
Property Size7,200 SF
Lot Size0.65 Acres
Price / SF$136.11
Days on Market145
Property Features for 206 Melrose Street
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
40
Lot size
0.65 Acres
Property subtype
Commercial / Industrial
Zoning
C-3
Additional Details
Traffic Count
20,000 vehicles/day
Amenities
security cameras
outdoor lighting
unit signage
Building Details
Tenancy
Multi
Listing Agency:
Compass Rose Realty
(870) 336-1008
Listed By:
Andrea Andrews
(870) 761-7774
Source:
Heilesassociatesrealtors
Added: May 24
Changed: Oct 6
Last Checked: Oct 14 at 10:34PM
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 Compass Rose Realty
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Investment Insights
Based on property information with market context.
This seven-unit strip retail center contains 7,200 square feet on approximately 0.65 acres and carries C-3 zoning. Several units have been remodeled, while the property includes electric HVAC units installed in 2013, a roof replaced in December 2020, security cameras, a security system, and exterior lighting. Each unit has a 5 x 10 sign, with Unit C offering two signs.
The center is positioned across from Arkansas State University in Jonesboro, Arkansas, with proximity to Northeast Arkansas Baptist Memorial Hospital, Jonesboro Municipal Airport, and local retail and dining establishments. Parking is available for 40 vehicles, and estimated daily traffic counts are 20,000.
The center is positioned across from Arkansas State University in Jonesboro, Arkansas, with proximity to Northeast Arkansas Baptist Memorial Hospital, Jonesboro Municipal Airport, and local retail and dining establishments. Parking is available for 40 vehicles, and estimated daily traffic counts are 20,000.
Key Highlights
- 7,200‑square‑foot strip retail center with seven units
- Approximately 0.65 acres with C‑3 zoning
- Across the street from Arkansas State University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,334
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,680
$1.2M
Cap Rate 7%
$876,200
$876.2K
Cap Rate 9%
$681,489
$681.5K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$93.3K $12.96/SF
− Vacancy
−$5.7K −$0.79/SF
EGI
$87.6K $12.17/SF
− OpEx
−$26.3K −$3.65/SF
NOI
$61.3K $8.52/SF
Area
Craighead County, AR
Vacancy
6.10%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,226,680
Cap Rate 7%
$876,200
Cap Rate 9%
$681,489
Alternative Uses
Best Use
Retail
$876.2K
$766.7K – $1.02M
NOI $61,334 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,237 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
Kum & Go
Shops & Services
22,080 visits/mo
0.2 miles
McDonald's
Dining
20,260 visits/mo
0.0 miles
SONIC Drive In
Dining
10,275 visits/mo
0.5 miles
Church's Chicken
Dining
4,350 visits/mo
0.1 miles
SUBWAY
Dining
2,784 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Strip mall - C-3-zoned commercial center with updated building systems, tenant signage, and on-site parking.
Where is this strip mall located?
The property is located at 206 Melrose Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 7,200‑square‑foot strip retail center with seven units; Approximately 0.65 acres with C‑3 zoning; Across the street from Arkansas State University
