Medical Center Property for
For Sale
$835,000
217 E Cherry Ave, Jonesboro, AR 72401
Healthcare-oriented property positioned directly across from St. Bernards Building for convenient area access.
Property Size3,456 SF
Price / SF$241.61
Days on Market69
Property Features for 217 E Cherry Ave
General Information
Standard status
Active
Size
3,456 SF
Taxes and HOA fees
Annual Taxes
$4,256
Listing Agency:
Halsey Real Estate
(870) 926-1442
Listed By:
Nile Thrasher
(870) 926-1442
Source:
Exprealty
Added: Jun 16
Changed: Aug 20
Last Checked: Aug 23 at 6:42AM
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 healthcare-oriented property is offered for sale as a medical center suitable for medical and related office uses. The available information identifies it within the medical centers and healthcare properties categories, supported by its intended role as a commercial healthcare asset.
The property is located at 217 E Cherry Ave in Jonesboro, AR. It is positioned directly across from part of St. Bernards Building, creating a clear, identifiable presence in the immediate medical office area.
For buyers and tenants seeking a healthcare-focused facility, this site offers a straightforward starting point for an operator looking to align with an established medical building presence nearby. Its siting across from St. Bernards Building may support tenant visibility and day-to-day convenience for patients and staff traveling to and from the surrounding medical area. Interested parties should review the property details and intended layout with a qualified broker to confirm suitability for their specific practice or healthcare office requirements.
The property is located at 217 E Cherry Ave in Jonesboro, AR. It is positioned directly across from part of St. Bernards Building, creating a clear, identifiable presence in the immediate medical office area.
For buyers and tenants seeking a healthcare-focused facility, this site offers a straightforward starting point for an operator looking to align with an established medical building presence nearby. Its siting across from St. Bernards Building may support tenant visibility and day-to-day convenience for patients and staff traveling to and from the surrounding medical area. Interested parties should review the property details and intended layout with a qualified broker to confirm suitability for their specific practice or healthcare office requirements.
Key Highlights
- Healthcare‑oriented property positioned directly across from St. Bernards Building
- Located directly across from part of St. Bernards Building for convenient area access
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
$29,207
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
3.50%
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%
$584,140
$584.1K
Cap Rate 7%
$417,243
$417.2K
Cap Rate 9%
$324,522
$324.5K
Market Conditions
NOI Build-Up for 3,456 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
$51.8K $15.00/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$48.7K $14.09/SF
− OpEx
−$19.5K −$5.63/SF
NOI
$29.2K $8.45/SF
Area
Craighead County, AR
Vacancy
6.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
40.00%
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%
$584,140
Cap Rate 7%
$417,243
Cap Rate 9%
$324,522
Alternative Uses
Best Use
Healthcare Medical
$417.2K
$365.1K – $486.8K
NOI $29,207 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$605.1K
$529.4K – $705.9K
NOI $42,354 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,693
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Healthcare-oriented property positioned directly across from St. Bernards Building for convenient area access.
Where is this medical center located?
The property is located at 217 E Cherry Ave Jonesboro, AR.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Healthcare‑oriented property positioned directly across from St. Bernards Building; Located directly across from part of St. Bernards Building for convenient area access
