New 12-Unit Apartment
For Sale
$2,400,000
3101 Olivia Ct, Jonesboro, AR
Newly completed condominium residences combine modern finishes, private carports, and a ready-to-lease configuration in Jonesboro.
Property Size14,616 SF
Price / SF$164.20
Days on Market78
Property Features for 3101 Olivia Ct
General Information
Standard status
Active
Size
14,616 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 3BR/2BA, 6 x 2BR/2BA
Multifamily Units
12
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$51
Amenities
luxury vinyl plank flooring
vaulted ceilings
granite countertops
open-concept living areas
tile showers in primary suites
quality cabinetry
modern finishes
Building Details
Buildings
3
Listing Agency:
Coldwell Banker Village Communities Inc
9357800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 930-9896
Source:
Exprealty
Added: Jun 18
Changed: Sep 2
Last Checked: Sep 1 at 11:47PM
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 Coldwell Banker Village Communities Inc
Investment Insights
Based on property information with market context.
Brendar Village is a newly completed multifamily development comprising 12 vacant condominium residences across three quadplex buildings at 3101 Olivia Ct in Jonesboro, Arkansas. The offering includes six two-bedroom, two-bath homes and six three-bedroom, two-bath homes. Each unit includes a covered two-car carport, while interior finishes include luxury vinyl plank flooring, vaulted ceilings, granite countertops, open-concept living areas, tile showers in the primary suites, and contemporary cabinetry.
The residences have never been occupied and are available for immediate leasing. Condominium ownership adds flexibility to the operating structure, allowing the development to function as a rental community while retaining the ability to sell units individually. Association dues cover the blanket exterior insurance policy and common area maintenance, limiting responsibility for those shared property obligations.
The residences have never been occupied and are available for immediate leasing. Condominium ownership adds flexibility to the operating structure, allowing the development to function as a rental community while retaining the ability to sell units individually. Association dues cover the blanket exterior insurance policy and common area maintenance, limiting responsibility for those shared property obligations.
Key Highlights
- 12 completed, vacant condominium units in three quadplex buildings
- Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units
- 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
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
$87,677
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
3.65%
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%
$1,753,540
$1.8M
Cap Rate 7%
$1,252,529
$1.3M
Cap Rate 9%
$974,189
$974.2K
Market Conditions
NOI Build-Up for 14,616 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
$170.1K $11.64/SF
− Vacancy
−$10.7K −$0.73/SF
EGI
$159.4K $10.91/SF
− OpEx
−$71.7K −$4.91/SF
NOI
$87.7K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,753,540
Cap Rate 7%
$1,252,529
Cap Rate 9%
$974,189
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,677 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,122 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly completed condominium residences combine modern finishes, private carports, and a ready-to-lease configuration in Jonesboro.
Where is this apartment building located?
The property is located at 3101 Olivia Ct Jonesboro, AR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12 completed, vacant condominium units in three quadplex buildings; Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units; 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
