Historic Mixed-Use Property in
For Sale
$550,000
303 S Main Street, Jonesboro, AR 72401
Mixed-use property with restaurant and redevelopment potential in downtown Jonesboro.
Property Size5,379 SF
Price / SF$102.25
Days on Market103
Property Features for 303 S Main Street
General Information
Standard status
Active
Size
5,379 SF
Property subtype
Commercial
Building Details
Building Size
5,379 SF
Year Built
1920
Stories
2
Listing Agency:
Century 21 Portfolio
(870) 340-7555
Listed By:
Lindsay Ivy
(870) 340-7555
Source:
Jcthornton
Added: May 14
Changed: Aug 23
Last Checked: Aug 22 at 6:18PM
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.
Located in downtown Jonesboro, this historic mixed-use property at 303 South Main Street offers a fully operating restaurant space on the main level. The expansive upstairs area is ready for redevelopment and is suitable for office suites, creative studio space, upscale loft apartments, or a live/work concept. Originally designed for office use, the 5379-square-foot property is positioned in a high-visibility area surrounded by local businesses, dining, and ongoing downtown growth. This property offers flexibility, charm, and incredible upside potential in one of Jonesboro's most desirable commercial corridors, making it ideal for an investor, developer, or entrepreneur looking to bring new life to one of downtown's most recognizable spaces.
Key Highlights
- Prime downtown Jonesboro location in a high‑visibility area.
- Mixed‑use property with a fully operating restaurant space.
- Expansive upper floor ready for redevelopment into office suites, studio space, apartments, or live/work space.
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
$40,827
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
7.42%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - Mixed-use property with restaurant and redevelopment potential in downtown Jonesboro.
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: Prime downtown Jonesboro location in a high‑visibility area.; Mixed‑use property with a fully operating restaurant space.; Expansive upper floor ready for redevelopment into office suites, studio space, apartments, or live/work space.
