7-Unit Strip Retail
For Sale
$980,000
206 Melrose Street, Jonesboro, AR 72401
Commercial / Industrial, Ranch, Jonesboro, AR
Property Size7,200 SF
Lot Size0.65 Acres
Price / SF$136.11
Days on Market47
Property Features for 206 Melrose Street
General Information
Property type
Commercial Sale
Property subtype
Single Family Residence
Zoning description
Central Business
Parking
40
Exterior features
Roof Sign, Pole Sign, Video Surveillance
Subdivision
BROWN REPLAT OF EVERS BROWN
Lot features
In Subdivision
Directions
From E. Johnson Ave. turn onto Melrose, Property will be on the Right.
Standard status
Active
APN
01-144171-24100
Size
7,200 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot B1 of Brown Replat
Tax Annual Amount
5000
Legal Description
Lot B1 of Brown Replat
Amenities
security cameras
outdoor lighting
5 x 10 signage for each unit
Building Details
Year built
2007
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Compass Rose Realty
(870) 336-1008
Listed By:
Andrea Andrews
(870) 761-7774
Added: Aug 25
Changed: Oct 5
Last Checked: Oct 10 at 11:06AM
MLS# 26034721
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.
Investment Insights
Based on property information with market context.
This 7,200-square-foot retail center contains seven units on approximately 0.65 acres and is zoned C-3. The property dates to 2007 and is offered in as-is condition. Several spaces have been remodeled. Improvements include a metal roof replaced in December 2020, electric HVAC units installed in 2013, security cameras, exterior lighting, and individual 5-by-10-foot signs for each unit; Unit C has an additional sign.
The center is across the street from Arkansas State University, with Northeast Arkansas Baptist Memorial Hospital, Jonesboro Municipal Airport, and local retail and dining establishments also nearby. The site has parking for 40 vehicles, and estimated daily traffic is 20,000.
The center is across the street from Arkansas State University, with Northeast Arkansas Baptist Memorial Hospital, Jonesboro Municipal Airport, and local retail and dining establishments also nearby. The site has parking for 40 vehicles, and estimated daily traffic is 20,000.
Key Highlights
- Seven retail units totaling 7,200 square feet on approximately 0.65 acres
- C‑3 zoning; property is offered in as‑is condition
- 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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - The property is positioned across the street from Arkansas State University and includes 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: Seven retail units totaling 7,200 square feet on approximately 0.65 acres; C‑3 zoning; property is offered in as‑is condition; Across the street from Arkansas State University
