Brick Triplex With Covered
For Sale
$429,900
700 W Monroe Avenue, Jonesboro, AR 72401
Multi-Family, Jonesboro, AR
Property Size4,484 SF
Lot Size0.39 Acres
Price / SF$95.87
Days on Market14
Property Features for 700 W Monroe Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Covered
Interior features
Ceiling Fan(s), Handicap Accessible
Exterior features
Brick, Vinyl Siding
Accessibility
Accessible Approach with Ramp
Subdivision
Nisbetts
Lot features
Landscaped, Level
Elementary school
Jonesboro Magnet
High school
Jonesboro High School
Standard status
Active
APN
01-143134-18700
Size
4,484 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Lot 1 Block D of E Roberts Replat Nesbitts Addition; Craighead County, Jonesboro, Arkansas
Legal Description
Lot 1 Block D of E Roberts Replat Nesbitts Addition; Craighead County, Jonesboro, Arkansas
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
Coldwell Banker Village Communities Inc · Coldwell Banker Real Estate
(870) 935-7800
Listed By:
Kevin Kercheval · License #PB00056142
(870) 926-3225
Added: Sep 11
Last Checked: Sep 24 at 2:06PM
MLS# 10132295
Copyright © 2026 Northeast Arkansas Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,484-square-foot triplex contains three residential units, each configured with three bedrooms and two bathrooms. The property includes brick and vinyl exterior finishes, shingle roofing, vinyl flooring, ceiling fans, central heating, and central air conditioning. An accessible approach with ramp and handicap-accessible features are also provided.
All three units are fully leased, and each residence is separately metered for utilities paid directly by its occupants. Covered parking serves the property, which occupies 0.3874 acres in Jonesboro, Arkansas.
All three units are fully leased, and each residence is separately metered for utilities paid directly by its occupants. Covered parking serves the property, which occupies 0.3874 acres in Jonesboro, Arkansas.
Key Highlights
- Three‑unit triplex with 4,484 square feet of building area
- Each unit includes 3 bedrooms and 2 bathrooms
- All three units are fully leased
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
$29,615
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
6.89%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three accessible residential units offer separate utility metering, central HVAC, and covered parking.
Where is this triplex located?
The property is located at 700 W Monroe Avenue 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 with 4,484 square feet of building area; Each unit includes 3 bedrooms and 2 bathrooms; All three units are fully leased
