Jonesboro Apartment Complex for
For Sale
Contact for pricing
Pending
1906 W Matthews Ave, Jonesboro, AR 72401
Apartment complex near major employers with recent renovations.
Property Size42,580 SF
Days on Market858
Property Features for 1906 W Matthews Ave
General Information
Standard status
Pending
Size
42,580 SF
Class
C
Total Parking Spaces
2
Property subtype
Multifamily
Building Details
Stories
2
Units
48
Listing Agency:
Halsey Real Estate
Listed By:
William Gay
Source:
Crexi
Added: Apr 16, 2024
Changed: Aug 8
Last Checked: Aug 20 at 6:57AM
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 Halsey Real Estate
Investment Insights
Based on property information with market context.
This apartment complex is situated in close proximity to several large employers in Jonesboro, including Riceland, ASU, and St. Bernard's. The apartment buildings feature roofs that are three years old, along with new flooring, paint, and countertops. Some appliances, several HVAC units, and water heaters have been recently replaced. The exterior of the buildings has also been repainted within the last three years. The property encompasses a total size of 42580 square feet.
Key Highlights
- Close proximity to major employers like Riceland, ASU, and St. Bernard's.
- Recent renovations including new flooring, paint, and countertops.**
- Relatively new roofs (3 years old).
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
$255,424
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
5.38%
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%
$5,108,480
$5.1M
Cap Rate 7%
$3,648,914
$3.6M
Cap Rate 9%
$2,838,044
$2.8M
Market Conditions
NOI Build-Up for 42,580 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
$495.6K $11.64/SF
− Vacancy
−$31.2K −$0.73/SF
EGI
$464.4K $10.91/SF
− OpEx
−$209.0K −$4.91/SF
NOI
$255.4K $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%
$5,108,480
Cap Rate 7%
$3,648,914
Cap Rate 9%
$2,838,044
Alternative Uses
Best Use
Apartment 5plus
$3.65M
$3.19M – $4.26M
NOI $255,424 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.45M
$6.52M – $8.70M
NOI $521,825 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
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 - Apartment complex near major employers with recent renovations.
Where is this apartment building located?
The property is located at 1906 W Matthews Ave Jonesboro, AR.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Close proximity to major employers like Riceland, ASU, and St. Bernard's.; Recent renovations including new flooring, paint, and countertops.**; Relatively new roofs (3 years old).
