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    Fair Park Blvd., Jonesboro, AR 72401

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    Highly visible commercial land in a thriving retail area.

    Type:Land
    Lot size:
    1.02 Acres
    Added:
    Apr 25, 2023
    Days on Market:
    1139
    Last Refresh:
    May 12 at 10:52 pm

    Property Features for Fair Park Blvd.

    General Information

    Standard status
    Active
    Lot size
    1.02 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Zac Qualls
    Zac Qualls

    Listing agent Zac Qualls License #EB00073816

    Listing office Haag Brown Commercial Real Estate and Development

    Listing date Apr 25, 2023

    Source Crexi

    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

    HighLights

    • Prime location: the only remaining hard corner at Parkwood Road and Fair Park Boulevard within the Township Centre development.
    • High visibility on Red Wolf Boulevard (34,000 cars per day) and Race Street (11,000 cars per day).
    • Located in the epicenter of Jonesboro's main retail sector, the focal point of the city's growth.
    • Surrounded by numerous established restaurants and retailers, including national brands.
    • Commercial zoning and major infrastructure are already securely in place.
    • Site can accommodate up to 3,500 square feet of stand alone space, ideal for a restaurant or retailer.

    Overview

    Located along Red Wolf Boulevard between Interstate 555 and the Mall at Turtle Creek, the Township Centre development is situated in Jonesboro’s main retail sector, which has been the focal point of the city’s growth for the past 10 years. The site is surrounded by restaurants and retailers, including Academy Sports, Cheddar’s Casual Cafe, Panera Bread, Men’s Wearhouse, Qdoba, The Refinery, Orange Theory Fitness, Sissy’s Log Cabin, Starbucks, Ashley Furniture, Plato’s Closet, Gigi’s Cupcakes, Aspen Dental, 1812 Pizza and Wings to Go. The property is zoned commercial. Tenants within Township Centre have exposure on Red Wolf Boulevard, with traffic counts reaching 34,000 cars per day, and Race Street, with traffic counts totaling 11,000 cars per day. Lot 1 is located at the intersection of Parkwood Road and Fair Park Boulevard. Bordered by Once Upon a Child to the south and Boho Extension Co. & Salon to the east, the site faces Kohl's and Lowe's. The 1.02 acre site is suited for any restaurant or retailer needing high visibility and easy access and can accommodate up to 3,500 square feet of stand alone space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.673093
    Latitude
    35.812635

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    FAQs

    What type of property is this?
    Commercial land - Highly visible commercial land in a thriving retail area.
    Where is this commercial land located?
    The property is located at Fair Park Blvd. Jonesboro, AR.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: Prime location: the only remaining hard corner at Parkwood Road and Fair Park Boulevard within the Township Centre development.; High visibility on Red Wolf Boulevard (34,000 cars per day) and Race Street (11,000 cars per day).; Located in the epicenter of Jonesboro's main retail sector, the focal point of the city's growth.
    (870) 336-8000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zac Qualls
    Zac Qualls
    Real Estate License ID: EB00073816
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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