Multi-Suite Office
For Sale
$1,375,000
3009 TURMAN DRIVE, Jonesboro, AR 72404
Commercial / Industrial, Traditional, Jonesboro, AR
Property Size6,912 SF
Lot Size9,999.00 Acres
Price / SF$198.93
Days on Market1008
Property Features for 3009 TURMAN DRIVE
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
36
Lot features
Level
Directions
South on Stadium, Left on Turman Drive.
Subdivision
Jonesboro P
Standard status
Active
Size
6,912 SF
Lot size
9,999.00 Acres
Taxes and HOA fees
Tax Description
TURMAN'S COMMERCIAL PARK PT S1
Tax Annual Amount
4930
Legal Description
TURMAN'S COMMERCIAL PARK PT S1
Building Details
Floors in Building
1
Architectural style
Other
Listing Agency:
Halsey Real Estate
(870) 972-9191
Listed By:
Steve Collar
(870) 316-0312
Added: Jan 1, 2024
Changed: Oct 5
Last Checked: Oct 5 at 11:06AM
MLS# 24000017
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.
The offering combines 3009 and 3013 Turman Drive in Jonesboro, totaling 6,912 square feet. At 3009, Suite A has six offices, two bathrooms, and a kitchen; Suite B includes an office, foyer, conference room, storage, two bathrooms, and a kitchen; and Suite C has a foyer, five offices, two bathrooms, and a kitchen.
At 3013, Suite B is leased for use as a hair salon and contains a foyer, five hairdressing booths, two bathrooms, and a kitchen. Suite A is arranged for completion with two bathrooms and a kitchen. The properties are being offered together.
At 3013, Suite B is leased for use as a hair salon and contains a foyer, five hairdressing booths, two bathrooms, and a kitchen. Suite A is arranged for completion with two bathrooms and a kitchen. The properties are being offered together.
Key Highlights
- Two Turman Drive properties offered together, totaling 6,912 square feet
- 3009 includes three suites with office, conference, foyer, storage, bathroom, and kitchen features
- 3009 Suite A has 6 offices; Suite C has 5 offices
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
$64,597
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
4.70%
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%
$1,291,940
$1.3M
Cap Rate 7%
$922,814
$922.8K
Cap Rate 9%
$717,744
$717.7K
Market Conditions
NOI Build-Up for 6,912 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
$97.9K $14.16/SF
− Vacancy
−$11.7K −$1.70/SF
EGI
$86.1K $12.46/SF
− OpEx
−$21.5K −$3.12/SF
NOI
$64.6K $9.35/SF
Area
Craighead County, AR
Vacancy
12.00%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$1,291,940
Cap Rate 7%
$922,814
Cap Rate 9%
$717,744
Alternative Uses
Best Use
Office B
$922.8K
$807.5K – $1.08M
NOI $64,597 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,708 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 72404, AR
29,344
Population
12,518
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
93%
High-School Grad
128.0 sq mi
ZIP Area
229
Density / Sq Mi
$67,000
Median Household Income
$40,373
Median Earnings
$938
Median Rent
$236,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - The two-building offering includes several office suites, a salon-leased suite, and space configured for a future buildout.
Where is this office building located?
The property is located at 3009 TURMAN DRIVE Jonesboro, AR.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two Turman Drive properties offered together, totaling 6,912 square feet; 3009 includes three suites with office, conference, foyer, storage, bathroom, and kitchen features; 3009 Suite A has 6 offices; Suite C has 5 offices
