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    213 Drew Ave Monette, AR 72447
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    213 Drew Ave, Monette, AR 72447

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    • Turn key restaurants
    • 1,750 SF
    For Sale
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    Monette Retail Buildings For Sale For Sale
    Contact for pricing
    3,510 SF

    Monette Retail Buildings For Sale

    Two commercial buildings in Monette, Arkansas, sold as is.

    213 215 Drew, Monette, AR 72447
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    Property ID
    US05-1190622
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 213 Drew Ave

    Property type
    Turn key restaurants
    APN
    06-157331-17900
    APU
    615733117900

    Description

    This exceptional investment opportunity presents two adjacent commercial buildings totaling 3,510 square feet, located at 213 and 215 Drew Street in Monette, Arkansas, zip code 72447. Situated in Craighead County, this property offers significant potential for redevelopment or repurposing. The buildings are being sold "as is," presenting a unique chance for buyers to envision and implement their own plans. The combined lot size is substantial, providing ample space for various commercial ventures. The property's location in Monette, Arkansas, offers access to local amenities and a growing community. With a list price of $29,900, this represents a compelling entry point into the Arkansas commercial real estate market. The property is classified as special purpose land and is ideal for entrepreneurs seeking a blank canvas to create a thriving business. The buildings have never been occupied by the owner, offering a clean slate for future development. This is a rare opportunity to acquire a significant commercial property at an attractive price point in a desirable location. The latitude and longitude coordinates are 35.8903042 and -90.3433614 respectively. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Monette
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.3433
    Latitude
    35.8903
    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
    $390
    $500
    $8,588
    $9,088
    -
    $2,500
    $42,940
    $45,440

    Comparable in this City

    • Value Estimation by Request
      1,820 SF

      123 Drew Ave

      RESTAURANT
      123 Drew Ave, Monette, AR 72447-9297
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    • Value Estimation by Request
      1,380 SF

      100 Drew Ave

      DRIVE-THRU RESTAURANT, FAST FOOD
      100 Drew Ave, Monette, AR 72447-9297
      View Details
    • Value Estimation by Request
      6,771 SF

      Drew

      DRUG STORE, PHARMACY
      Drew, Monette, AR 72447
      View Details
    • Value Estimation by Request
      3,641 SF

      Drew

      RETAIL STORES (PERSONAL SERVICES)
      Drew, Monette, AR 72447
      View Details
    • Value Estimation by Request
      1,950 SF

      119 Edmonds St

      AUTO REPAIR, GARAGE
      119 Edmonds St, Monette, AR 72447
      View Details
    • Value Estimation by Request
      1,372 SF

      101 Drew

      AUTO REPAIR, GARAGE
      101 Drew, Monette, AR 72447
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,510 SF

      Monette Retail Buildings For Sale

      Two commercial buildings in Monette, Arkansas, sold as is.
      213 Drew Ave, Monette, AR 72447
      View Details
    • Contact for pricing
      22,500 SF

      Monette Warehouse with Highway Visibility

      Versatile warehouse with excellent visibility and convenient highway access.
      200 N Edmonds St, Monette, AR 72447
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    View Listing
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    Monette, AR 72447
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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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