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    Prime Retail Space Available Title is generated by Realmo AI

    3009 E Highland Dr, Jonesboro, AR 72401

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    High-visibility retail space in a strong tenant-anchored center.

    Type:Retail
    Property size:
    5,200 SF
    Added:
    Aug 18, 2023
    Days on Market:
    1026
    Last Refresh:
    May 12 at 9:23 pm

    Property Features for 3009 E Highland Dr

    General Information

    Standard status
    Active
    Size
    5,200 SF
    Property subtype
    Retail

    Spaces For Lease

    at 3009 E Highland Dr Contact us

    +/- 2,509 SF of Demised Former David's B $38/Mo

    Size
    2,509 SF
    Type
    Retail
    Contact us

    +/- 5,200 SF of PRIME Retail Space $20/Mo

    Size
    5,200 SF
    Type
    Retail
    Contact us

    +/- 2,391 SF of Demised Former David's B $38/Mo

    Size
    2,391 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Zac Qualls
    Zac Qualls

    Listing agent Zac Qualls License #EB00073816

    Listing office Haag Brown Commercial Real Estate and Development

    Listing date Aug 18, 2023

    Source Crexi

    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 Haag Brown Commercial Real Estate and Development

    HighLights

    • High‑traffic location at the corner of Red Wolf Blvd & Highland Drive, with exposure to over 60,000 cars per day.
    • Anchored by strong tenants such as PetSmart and Skechers.
    • Located in a retail center with a diverse mix of national retailers and restaurants including T‑Mobile, Five Guys, Ulta Beauty and Olive Garden.
    • Landlord is willing to divide the 5,200 SF space into two separate units (2,509 SF & 2,391 SF).
    • Property features a brand new roof and HVAC systems.
    • Tenant improvement allowance is available.

    Overview

    This leasing opportunity features approximately 5,200 square feet of retail space in a high-profile retail center. The property is located at the corner of Red Wolf Boulevard and Highland Drive, providing exposure to over 60,000 cars per day. Access is available from Red Wolf Boulevard to the west, Highland Drive to the north, and Dayton Avenue to the south. The retail center, totaling nearly 25,000 square feet, is anchored by PetSmart and includes T-Mobile. Another building of approximately 11,000 square feet is anchored by Skechers and includes SportClips, Diva Nail & Spa, and Mai Pai Thai Cuisine. Neighboring restaurants and retail stores include Five Guys, Cheddar’s Scratch Kitchen, Ulta Beauty, Kirkland’s, Academy Sports, Olive Garden, AT&T, Chili’s, Dillard’s, and JC Penney. The landlord will consider dividing the 5,200-square-foot space into two separate lease spaces of 2,509 square feet and 2,391 square feet, subject to mutually agreeable terms. The property features a new roof and HVAC systems. The space will be delivered in "as-is" condition, with a tenant improvement allowance available.
    Property Profile Location Intelligence

    Current Use by Public Records

    SKECHERS Warehouse Outlet Clothing & Fashion Store Mai Pai Thai ... Restaurant TagWorks (Bike/Boat/Book/etc) Store Alterations by David's ... (Bike/Boat/Book/etc) Store PetSmart (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon 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
    -90.668257
    Latitude
    35.820182

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    FAQs

    What type of property is this?
    Retail space - High-visibility retail space in a strong tenant-anchored center.
    Where is this retail space located?
    The property is located at 3009 E Highland Dr Jonesboro, AR.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location at the corner of Red Wolf Blvd & Highland Drive, with exposure to over 60,000 cars per day.; Anchored by strong tenants such as PetSmart and Skechers.; Located in a retail center with a diverse mix of national retailers and restaurants including T‑Mobile, Five Guys, Ulta Beauty and Olive Garden.
    (870) 336-8000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zac Qualls
    Zac Qualls
    Real Estate License ID: EB00073816
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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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