101 Johnson Ave Jonesboro, AR 72401
- Retail space
- 8,000 SF
Current Use by Public Records
- Dollar General / Grocery Store / Discount Store
- Western Union / Money Transfer Service
Property Details for 101 Johnson Ave
- Property size
- 8,000 SF
- Property type
- Retail space
- APN
- 01-144182-06500
- APU
- 114418206500
Description
This fee-simple, net-leased Dollar General storefront in Jonesboro, AR, presents a compelling investment opportunity. Located at 101 E Johnson Ave, this 8,000 square foot property sits on a 0.85-acre lot and boasts a strong 7.25% cap rate, generating a $57,000 annual NOI. The property benefits from a 10-year lease (commencing April 1, 2020, and expiring March 31, 2030), with 5.4 years remaining and two five-year renewal options. Rent increases are built in, with an 8% bump every five years. The tenant, Dollar General, is credit-rated and backed by a corporate guarantee, ensuring consistent income. The property is zoned I-1 and enjoys a prime location in downtown Jonesboro, serving a population exceeding 40,000 within a three-mile radius. Jonesboro's total population is 81,969, further enhanced by the presence of Arkansas State University, the state's second-largest university with over 14,000 students. The city's affordability and its status as a regional healthcare hub with two major medical campuses add to the property's long-term value. The asking price is $786,206, translating to $98.28 per square foot. This established, high-performing retail asset offers investors a secure and profitable addition to their portfolio. The property's APN is 01-144182-06500.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.7044
- Latitude
- 35.8449
- CBSA code
- 27860
- CBSA name
- JONESBORO, AR METROPOLITAN STATISTICAL AREA
