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    Downtown Jonesboro Loft Investment Opportunity Title is generated by Realmo AI

    226 Union St #1-11, Jonesboro, AR 72401

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    For Sale
    $2,650,000

    MULTI_FAMILY - Jonesboro, AR

    Type:Apartment
    Property size:
    8,000 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $331/SF
    Added:
    Apr 1, 2026
    Days on Market:
    52
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 226 Union St #1-11

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Parking features
    Carport, Open
    Interior features
    Washer-Stays, Dryer-Stays, Hot Water Heater-Gas, Smoke Detector
    Exterior features
    Fully Fenced
    Fencing
    Full
    Appliances
    Free-Standing Stove, Microwave, Dishwasher, Disposal, Pantry, Refrigerator-Stays, Free-Standing Stove, Microwave, Dishwasher, Disposal, Pantry, Refrigerator-Stays
    Standard status
    Active
    Size
    8,000 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    STEPHENSONS MAIN ST ADD S1/2 L
    Tax Annual Amount
    5671

    Building Details

    Year built
    2015
    Floors in Building
    2
    Number of units
    11
    Flooring type
    Vinyl
    Roof type
    Flat

    We can help!

    Listing Contact
    Bill Pressly
    Bill Pressly

    Listing agent Bill Pressly

    Listing office Arnold Group Real Estate 312 S Main St, Jonesboro, AR

    Listing date Apr 1, 2026

    MLS# 26012399 Listing URL

    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.

    HighLights

    • Fully occupied multi‑family property generating over $200,000 in gross annual income.
    • Located in the Downtown Jonesboro Entertainment District.
    • Features 11 loft‑style residential units.
    • Includes 8 gated parking spaces.
    • Unique loft living experience within the historic Massinelli's Dry Cleaning Building.
    • Rooftop patio for tenant use.

    Overview

    This multi-family property is located in the Downtown Jonesboro Entertainment District. The property features 11 loft-style residential units and 8 gated parking spaces. The property is fully occupied and generates over $200,000 in gross annual income. The property offers a loft living experience within the historic Massinelli's Dry Cleaning Building, combining character with modern amenities. Features include secure gated access, a fire sprinkler system, tankless water heaters, and a rooftop patio for tenant use only. The property is situated in a strong rental market, approximately 52% renter-occupied. The property provides immediate cash flow and long-term investment stability. The property is one of the few downtown properties offering both loft-style units and dedicated gated parking. There are nine 2-bedroom, 2-bath units and two 1-bedroom, 1-bath units. The property is perfect for a 1031 Exchange. The property size is 8,000 square feet and the lot size is 0.22 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.705484
    Latitude
    35.841082

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied multi-family property in the Downtown Jonesboro Entertainment District.
    Where is this apartment building located?
    The property is located at 226 Union St #1-11 Jonesboro, AR.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: Fully occupied multi‑family property generating over $200,000 in gross annual income.; Located in the Downtown Jonesboro Entertainment District.; Features **11 loft‑style residential units**.
    (870) 919-3990
    We can help!
    Listing Contact
    Bill Pressly
    Bill Pressly
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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