3-Unit Triplex with Spacious
700 W Monroe Ave, Jonesboro, AR 72401
For Sale
$429,900
Fully leased residential property with separately metered units and tenant-paid utilities.
Property Size4,484 SF
Price / SF$95.87
Days on Market60
Property Features for 700 W Monroe Ave
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Building Details
Buildings
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Source:
Exprealty
Added: Sep 11
Changed: Nov 7
Last Checked: Nov 8 at 9:17AM
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
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Investment Insights
Based on property information with market context.
Located at 700 W Monroe Ave in Jonesboro, Arkansas, this 4,484-square-foot triplex contains three residential units. Each unit offers three bedrooms and two bathrooms, providing a full-sized home layout within a multifamily configuration.
All three units are leased, and each is separately metered. Tenants pay their own utilities, supporting clear separation of utility responsibility across the property.
All three units are leased, and each is separately metered. Tenants pay their own utilities, supporting clear separation of utility responsibility across the property.
Key Highlights
- Three‑unit triplex totaling 4,484 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- All three units are fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,615
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,300
$592.3K
Cap Rate 7%
$423,071
$423.1K
Cap Rate 9%
$329,056
$329.1K
Market Conditions
NOI Build-Up for 4,484 SF
Gross rent
$45.7K $10.20/SF
− Vacancy
−$3.4K −$0.77/SF
EGI
$42.3K $9.44/SF
− OpEx
−$12.7K −$2.83/SF
NOI
$29.6K $6.60/SF
Area
Craighead County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,300
Cap Rate 7%
$423,071
Cap Rate 9%
$329,056
Alternative Uses
Best Use
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,615 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$384.3K
$336.2K – $448.3K
NOI $26,898 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,459
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased residential property with separately metered units and tenant-paid utilities.
Where is this triplex located?
The property is located at 700 W Monroe Ave Jonesboro, AR.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 4,484 square feet; Each unit includes 3 bedrooms and 2 bathrooms; All three units are fully leased
