Two-Story Multi-Tenant Office
For Sale
Contact for pricing
624 S Main St, Jonesboro, AR 72401
Two-story downtown office building configured for multiple tenants, with all but one suite currently leased.
Property Size9,720 SF
Price / SF$200.62
Days on Market177
Property Features for 624 S Main St
General Information
Standard status
Active
Size
9,720 SF
Class
C
Property subtype
Office
Zoning
C-1*
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Haag Brown Commercial Real Estate and Development
Listed By:
Zac Qualls · License #EB00073816
(870) 284-4448
Source:
Crexi
Added: Apr 1
Changed: Sep 23
Last Checked: Sep 24 at 8:12AM
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
Investment Insights
Based on property information with market context.
This two-story office building is currently configured with multiple office suites, with all but one (1) of the spaces fully leased. The interior features a prominent waiting area and a grand staircase, supporting a clean, professional tenant and visitor experience.
Located along Main St. in Downtown Jonesboro, the property is directly across the street from the Federal Building & Craighead County Courthouse and is within walking distance of downtown amenities.
Offered for sale as a user/owner scenario, the building provides an income-producing setup alongside owner-occupant flexibility.
Located along Main St. in Downtown Jonesboro, the property is directly across the street from the Federal Building & Craighead County Courthouse and is within walking distance of downtown amenities.
Offered for sale as a user/owner scenario, the building provides an income-producing setup alongside owner-occupant flexibility.
Key Highlights
- Two‑story office building on Main St. in Downtown Jonesboro configured for multiple tenants
- All but one suite is currently leased, with space set up for multi‑tenant office use
- Grand interior waiting area with a staircase
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
$90,839
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
4.66%
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%
$1,816,780
$1.8M
Cap Rate 7%
$1,297,700
$1.3M
Cap Rate 9%
$1,009,322
$1.0M
Market Conditions
NOI Build-Up for 9,720 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
$137.6K $14.16/SF
− Vacancy
−$16.5K −$1.70/SF
EGI
$121.1K $12.46/SF
− OpEx
−$30.3K −$3.12/SF
NOI
$90.8K $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%
$1,816,780
Cap Rate 7%
$1,297,700
Cap Rate 9%
$1,009,322
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.51M
NOI $90,839 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,120 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,994
Businesses Nearby
Explore this area
Business Placement
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
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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 - Two-story downtown office building configured for multiple tenants, with all but one suite currently leased.
Where is this office building located?
The property is located at 624 S Main St Jonesboro, AR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two‑story office building on Main St. in Downtown Jonesboro configured for multiple tenants; All but one suite is currently leased, with space set up for multi‑tenant office use; Grand interior waiting area with a staircase
