1843A Highland Dr Jonesboro, AR 72401
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Lifestyle centers
Property Details for 1843A Highland Dr
- Lot size
- 8.17 lot acres
- Property size
- 99,662 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A shopping center in Jonesboro, Arkansas, presents a compelling investment opportunity. Priced at $13,650,000, this 99,662 square foot property boasts a 7.48% cap rate and a strong net operating income (NOI) of $1,021,465. The center features a diverse mix of four tenants, including a Hobby Lobby anchored by a new 10-year lease, Shoe Carnival, Lucky's Mattress & Furniture, and a VA Clinic. Situated on an 8.17-acre lot with 313 parking spaces, the property benefits from a prime location in Jonesboro's thriving retail corridor, experiencing over 22,000 vehicles daily. Recent renovations include exterior painting and parking lot resurfacing. The property is zoned C-3 and features one building, built in 2023. The lease type is NNN, with rent bumps included. This multi-tenant investment offers exceptional value and strong potential for future growth, well below replacement cost. The property's location adjacent to a major Walmart Supercenter further enhances its desirability and ensures consistent high traffic. This is a rare opportunity to acquire a premier retail asset in a high-demand market.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.6837
- Latitude
- 35.8203
