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Property profile & analytics
OFF-MARKET
Estimated value
$10,255,000
Retail space
1843 Highland Dr, Jonesboro, AR 72401-6118
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US05-0994718
Property summary
AI-generated overview
This exceptional investment opportunity presents a 60,934 square foot, Class A Hobby Lobby storefront in Jonesboro, Arkansas. Boasting a new 10-year lease (with two 5-year options) expiring February 28, 2034, this property offers a strong 6.99% cap rate and a substantial NOI of $594,106. Located on 7.52 acres of C-3 zoned land (APN: 01-144291-0580), the property benefits from a prime location on E. Highland Dr., a high-traffic retail corridor near major retailers like Walmart, Kroger, and Target. The property's multi-tenant configuration and 100% occupancy ensure a stable and reliable income stream. The sale price is $8,500,000 ($139.50/sq ft). Ownership will be conveyed via a Horizontal Property Regime (HPR). This is a rare opportunity to acquire a highly sought-after retail asset with a long-term, established tenant and significant upside potential. The property's strategic location and strong tenant history make it an ideal addition to any diversified investment portfolio. This NNN lease significantly minimizes landlord responsibilities, further enhancing the investment's appeal.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
108,337 SF
Lot
8.17 ac (355,885 SF)
APN
01-144291-05800
UPID
US05-0994718
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Simple Fix Hair Studio Hair Salon
-
Amvets Drop Box Charitable Organization
-
VA Jonesboro Outpatient Clinic Government Office
-
Jonesboro VA Clinic Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.31M
CAP Approach
CAP
$14.20M
Comparable Approach
Comparable
$8.34M
Blend (final)
Blend
$10.26M
Owner & transaction history
Bernard Court Ms Realty LLC · 1 yrs held
Bernard Court Ms Realty LLC
since 2025
Last sale
$12.8M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$14.5M
+46.3%
Office building
$12.2M
+22.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jonesboro submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jonesboro submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,370,000
ML approach
$7,305,000
CAP Approach
CAP Return
Estimation
6%
$15,380,000
6.5%
$14,200,000
7%
$13,185,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,925,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$14,515,000
Change: +46% · Conversion: Moderate
OFFICE BUILDING
$12,165,000
Change: +23% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,965,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$10.26M
Range $9.23M – $11.28M · ±10% · vs last sale $12.77M (May 22 2025)
Last sale anchor
$12.77M
May 22 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$95 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$69,220
Tax year 2024
Assessed value
$1,640,290
Assessed 2024
Previous assessed
$1,640,290
+0.0% YoY
Effective rate
4.22%
On assessed value
Assessed land
$285,873
Assessed improvement
$1,354,417
Land market value
$1,429,365
Improvement market value
$6,772,085
Total market value
$8,201,450
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Cooling
NONE
Stories
1
Total area
108,337 SF
Lot
8.17 ac (355,885 SF)
APN
01-144291-05800
UPID
US05-0994718
Jurisdiction
CRAIGHEAD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.5M
OFFICE BUILDING
Est. value
$12.2M
AUTO REPAIR, GARAGE
Est. value
$9.0M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Cooling
Yes
Stories
1
Lot
8.17 ac
Current owner
From public records · entity-resolved
Bernard Court Ms Realty LLC
Entity
Mailing address
24 COUNTY RD 912, BROOKLAND, AR 72417-9041
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2025
$12,768,300
Bernard Court Ms Realty LLC
Northrock Partners LLC
Special Warranty Deed
$9,576,225 · Arvest Bank
Oct 31, 2022
$11,500,000
Northrock Partners LLC
Bernard Court LLC
Special Warranty Deed
$8,755,000 · The Farmers & Merchants Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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