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    Property profile & analytics

    2407 Phillips Dr Jonesboro, AR 72401-7310

    • Hotels
    • 50,594 SF
    • 3.83 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2022
    $7,250,000
    Value Estimations
    $5,920,000
    Show details
    Cap Rate Potential
    4.9%
    Hotels
    Location Intelligence
    Property ID
    US05-1360524
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jonesboro Inn and Suites / Hotel
    • La Quinta Inn & Suites by Wyndham Jonesboro / Hotel / Inn

    Property Details for 2407 Phillips Dr

    Lot size
    3.83 lot acres
    Property size
    50,594 SF
    Property type
    Hotels
    APN
    01-144283-03801
    APU
    114428303801

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,975,000
      ML approach
      $5,320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,905,000
      6.5%
      $4,525,000
      7%
      $4,200,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.6759
    Latitude
    35.8081
    CBSA code
    27860
    CBSA name
    JONESBORO, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $42,061
    $211,716
    $663,646
    $875,362
    -
    $1,058,580
    $3,318,230
    $4,376,810

    Comparable in this City

    • Value Estimation
      $665,000
      79,649 SF

      Sumo Loop

      HOTEL • 79,649 SF
      Sumo Loop, Jonesboro, AR 72401
      View Details
    • Value Estimation
      $680,000
      47,764 SF

      3404 Access Rd

      HOTEL • 47,764 SF
      3404 Access Rd, Jonesboro, AR 72401-7314
      View Details
    • Value Estimation
      $610,000
      45,833 SF

      3408 Access Rd

      HOTEL • 45,833 SF
      3408 Access Rd, Jonesboro, AR 72401-7314
      View Details
    • Value Estimation
      $590,000
      78,957 SF

      2840 Caraway Rd

      HOTEL • 78,957 SF
      2840 Caraway Rd, Jonesboro, AR 72401-7325
      View Details
    • Value Estimation
      $655,000
      42,087 SF

      2400 Phillips Dr

      HOTEL • 42,087 SF
      2400 Phillips Dr, Jonesboro, AR 72401-7309
      View Details
    • Value Estimation
      $620,000
      31,614 SF

      2900 Phillips Dr

      HOTEL • 31,614 SF
      2900 Phillips Dr, Jonesboro, AR 72401-7340
      View Details

    Similar Nearby for Sale

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      Prime Jonesboro development site, 1.21 acres, all utilities.
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      Jonesboro Commercial Land - $2M

      3.32 Acres, Prime Jonesboro Location
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    • $850,100
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      Jonesboro Commercial Land - 1.95 Acres

      Prime Jonesboro commercial lot, high traffic area.
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      Jonesboro Medical Office Land

      2.83 acres near NEA Baptist. High visibility.
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    Similar Nearby for Lease

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      35,719 SF

      Jonesboro Retail Space Available

      High-traffic location, build-to-suit options.
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      View Details
    • $40,217
      104,544 SF

      Jonesboro Medical Office Park

      Executive suites, prime location.
      2097 Bridger Rd, Jonesboro, AR 72401
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    • $18 SF/Yr
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      Hilltop Medical/Office Space For Lease

      Jonesboro, AR: 3,600 SF Available
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      View Details
    • $16 SF/Yr
      2,000 SF

      Move-in Ready Office Space

      First-floor office space with high traffic exposure and easy access.
      501-503 Southwest Dr, Jonesboro, AR 72401
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    • $30 SF/Yr
      10,000 SF

      New Retail Center on Highway

      New construction retail center with frontage on Highway 49.
      5900 Highway 49 N, Jonesboro, AR 72401
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    • $3,000 /Mo
      2,700 SF

      Professional Office Space in Jonesboro

      2,700 SF office space with recent upgrades and ample parking.
      1707 Stone St, Jonesboro, AR 72401
      View Details

    Property Visit Statistics

    • Visits by month
      4.2k
    • Visitors by month
      1.3k
    • Avg Time on site
      454 min
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    Jonesboro, AR 72401-7310
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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.

    More about this property
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