Mixed-Use Property with
New
For Sale
$550,000
303 S Main Street, Jonesboro, AR 72401
An operating restaurant occupies the ground floor, with a former office layout upstairs.
Property Size5,379 SF
Price / SF$102.25
Days on Market1
Property Features for 303 S Main Street
General Information
Standard status
Active
Size
5,379 SF
Property subtype
Commercial / Industrial
Listing Agency:
Century 21 Portfolio
(870) 933-0026
Listed By:
Lindsay Ivy · License #SA00093626
(870) 340-7555
Source:
Heilesassociatesrealtors
Added: Oct 7
Last Checked: Oct 7 at 2:23PM
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 Century 21 Portfolio
Investment Insights
Based on property information with market context.
This mixed-use property at 303 S Main Street has an operating restaurant on the ground floor. The upper level was originally laid out for office use and is presented as space for redevelopment.
The property is in downtown Jonesboro, Arkansas.
The property is in downtown Jonesboro, Arkansas.
Key Highlights
- Operating restaurant on the ground floor
- Upper level was originally configured for office use
- Located at 303 S Main Street in downtown Jonesboro
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,827
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$816,540
$816.5K
Cap Rate 7%
$583,243
$583.2K
Cap Rate 9%
$453,633
$453.6K
Market Conditions
NOI Build-Up for 5,379 SF
Gross rent
$71.0K $13.20/SF
− Vacancy
−$5.7K −$1.06/SF
EGI
$65.3K $12.14/SF
− OpEx
−$24.5K −$4.55/SF
NOI
$40.8K $7.59/SF
Area
Craighead County, AR
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$816,540
Cap Rate 7%
$583,243
Cap Rate 9%
$453,633
Alternative Uses
Best Use
Specialty Retail
$811.7K
$710.3K – $947.0K
NOI $56,822 @ 7.0% cap · market cap 10.33%
Second Best
Mixed Use
$583.2K
$510.3K – $680.5K
NOI $40,827 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$941.7K
$824.0K – $1.10M
NOI $65,921 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,025
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 99%
Home Improvements & Furnishings 1%
Dollar General
Shops & Services
8,793 visits/mo
0.4 miles
Exxon
Shops & Services
5,672 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,391 visits/mo
0.4 miles
Exxon
Shops & Services
2,664 visits/mo
0.1 miles
Cadence Bank
Shops & Services
1,594 visits/mo
0.2 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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - An operating restaurant occupies the ground floor, with a former office layout upstairs.
Where is this mixed-use property located?
The property is located at 303 S Main Street Jonesboro, AR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Operating restaurant on the ground floor; Upper level was originally configured for office use; Located at 303 S Main Street in downtown Jonesboro
