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    Property profile & analytics

    237 Main St, Unit UC Jonesboro, AR 72401-2908

    • High-rise multifamily apartments
    • 714 SF
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1434567
    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

    • S Main Apartments / Apartment Building
    • Schroyer Carpet & Flooring Company / Carpet Wholesaler
    • Lemonade House Grille / American Restaurant / Restaurant

    Property Details for 237 Main St

    Property size
    714 SF
    Property type
    High-rise multifamily apartments
    APN
    01-144183-52907
    APU
    114418352907

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.7052
    Latitude
    35.8408
    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
    $860
    $0.00
    $25,932
    $25,932
    -
    $0.00
    $129,660
    $129,660

    Comparable in this City

    • Value Estimation
      $275,000
      2,308 SF

      521 Oak Ave

      HIGH-RISE APARTMENTS • 2,308 SF
      521 Oak Ave, Jonesboro, AR 72401-4249
      View Details
    • Value Estimation
      $275,000
      3,750 SF

      219 Main St

      HIGH-RISE APARTMENTS • 3,750 SF
      219 Main St, Jonesboro, AR 72401-2908
      View Details
    • Value Estimation
      $260,000
      791 SF

      237 Main St, Unit UA

      HIGH-RISE APARTMENTS • 791 SF
      237 Main St, Jonesboro, AR 72401-2908
      View Details
    • Value Estimation
      $355,000
      3,484 SF

      2209 Race St

      HIGH-RISE APARTMENTS • 3,484 SF
      2209 Race St, Jonesboro, AR 72401-7218
      View Details
    • Value Estimation
      $260,000
      955 SF

      237 Main St, Unit UD

      HIGH-RISE APARTMENTS • 955 SF
      237 Main St, Jonesboro, AR 72401-2908
      View Details
    • Value Estimation
      $275,000
      1,760 SF

      601 Cherry Ave

      HIGH-RISE APARTMENTS • 1,760 SF
      601 Cherry Ave, Jonesboro, AR 72401-4216
      View Details

    Similar Nearby for Sale

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      7,944 SF

      Jonesboro Mixed-Use Property For Sale

      Mixed-use property with warehouse and income-producing apartments in high-visibility area.
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      Turn Key Apartment Investment

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      Jonesboro Apartment Complex: Value-Add Opportunity

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    • $925,000
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      Turnkey Apartment Investment Opportunity

      Well-maintained 2 bed, 1 bath apartments in Jonesboro, AR.
      1012 N Main St, Jonesboro, AR 72401
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    • $715,000
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      Jonesboro Multifamily Investment Opportunity

      Nine-unit apartment complex near Arkansas State University and NEA Hospital.
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    • $749,000
      1,104 SF

      New Construction Leased 5-Plex

      New construction 5-plex in the West End District.
      1323 W Jefferson Ave, Jonesboro, AR 72401
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      45,000 SF

      Jonesboro AR Warehouse Space

      13,500 SF Warehouse - Immediate Occupancy
      6515 C W Post Rd, Jonesboro, AR 72401
      View Details
    • $7 SF/Yr
      252,720 SF

      Jonesboro Retail Space - Phase 1

      252,720 SF Retail Building, Prime Location
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      View Details
    • $25 SF/Yr
      3,007 SF

      Medical Office Space For Lease

      Medical office space available on the medical mile.
      911 Osler Dr, Jonesboro, AR 72401
      View Details
    • $4,020 /Mo
      6,000 SF

      Jonesboro Flex Space For Lease

      6,000 SF flex space with office and warehouse components.
      310 Reeves St, Jonesboro, AR 72401
      View Details
    • $18 SF/Yr

      Office Space on S. Caraway

      Office space for rent in high-traffic Jonesboro corridor.
      2907 S Caraway Rd, Jonesboro, AR 72401
      View Details
    • $2,500 /Mo
      2,924 SF

      Downtown Jonesboro Corner Retail Space

      2,924 SF freestanding building on a high-visibility corner lot.
      101 E Forrest St, Jonesboro, AR 72401
      View Details
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    237 Main St, Unit UC
    Jonesboro, AR 72401-2908
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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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