11-Unit Apartment
For Sale
$750,000
908 Warner Ave, Jonesboro, AR 72401
All-electric multifamily property with several units in partial renovation.
Property Size4,193 SF
Price / SF$178.87
Days on Market8
Property Features for 908 Warner Ave
General Information
Standard status
Active
Size
4,193 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$1,995
Listing Agency:
Century 21 Portfolio
(870) 933-0026
Listed By:
Chris Collinsworth
(870) 933-0026
Source:
Exprealty
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 19 at 10:25AM
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.
This 11-unit apartment property contains 4,193 square feet and is configured as an all-electric multifamily asset. Several units are in the early stages of remodeling, giving a new owner the ability to complete the ongoing refurbishment work. The property also offers an opportunity to address operational improvements across the unit portfolio.
Located in the West End Community of Jonesboro, the property is positioned in West Jonesboro with access to employment centers, shopping, and local amenities. The source information identifies rental demand in the surrounding area and room for rent growth as renovations and management improvements are completed.
Located in the West End Community of Jonesboro, the property is positioned in West Jonesboro with access to employment centers, shopping, and local amenities. The source information identifies rental demand in the surrounding area and room for rent growth as renovations and management improvements are completed.
Key Highlights
- 11 total apartment units
- 4,193 square feet of multifamily property
- All‑electric utility configuration
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
$25,152
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
3.35%
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%
$503,040
$503.0K
Cap Rate 7%
$359,314
$359.3K
Cap Rate 9%
$279,467
$279.5K
Market Conditions
NOI Build-Up for 4,193 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
$48.8K $11.64/SF
− Vacancy
−$3.1K −$0.73/SF
EGI
$45.7K $10.91/SF
− OpEx
−$20.6K −$4.91/SF
NOI
$25.2K $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%
$503,040
Cap Rate 7%
$359,314
Cap Rate 9%
$279,467
Alternative Uses
Best Use
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,152 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$734.1K
$642.3K – $856.4K
NOI $51,386 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
516
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
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 - All-electric multifamily property with several units in partial renovation.
Where is this apartment building located?
The property is located at 908 Warner Ave Jonesboro, AR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 11 total apartment units; 4,193 square feet of multifamily property; All‑electric utility configuration
