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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2802 Dr Martin Luther King Jr Dr Jonesboro, AR 72401-9158

    • Flex space
    • 6,720 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2025
    $625,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0891221
    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

    • Flex space

    Property Details for 2802 Dr Martin Luther King Jr Dr

    Lot size
    2.00 lot acres
    Property size
    6,720 SF
    Property type
    Flex space
    APN
    01-144253-02200
    APU
    114425302200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesboro
    County
    Craighead
    State
    Arkansas
    Longitude
    -90.6236
    Latitude
    35.8103
    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
    $3,388
    $24,437
    $57,916
    $82,353
    -
    $122,185
    $289,580
    $411,765

    Comparable in this City

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      135,410 SF

      2121 Barnhill Rd

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    • Value Estimation by Request
      13,056 SF

      Gr 706th Rd Rd

      LIGHT INDUSTRIAL • 13,056 SF
      Gr 706th Rd Rd, Jonesboro, AR 72401
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    • Value Estimation
      $575,000
      77,519 SF

      2405 Industrial Dr

      LIGHT INDUSTRIAL • 77,519 SF
      2405 Industrial Dr, Jonesboro, AR 72401-6679
      View Details
    • Value Estimation
      $825,000
      86,146 SF

      9401 Highland Dr

      LIGHT INDUSTRIAL • 86,146 SF
      9401 Highland Dr, Jonesboro, AR 72401-9157
      View Details
    • Value Estimation by Request
      45,000 SF

      6515 C W Post Rd

      Distribution properties • 45,000 SF
      6515 C W Post Rd, Jonesboro, AR 72401
      View Details
    • Value Estimation
      $755,000
      71,040 SF

      Johnson

      LIGHT INDUSTRIAL • 71,040 SF
      Johnson, Jonesboro, AR 72401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,000 SF

      Flex Space Building in Jonesboro

      New flex space building on well-traveled route near I-555.
      2431 W Washington Ave, Jonesboro, AR 72401
      View Details
    • $1,550,000
      11,250 SF

      Jonesboro Multi-Tenant Flex Property

      11,250 SF multi-tenant flex property in Jonesboro, Arkansas.
      1512 East Washington Ave, Jonesboro, AR 72401
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    • New
      $499,000
      4,860 SF

      Jonesboro Flex Space Opportunity

      Two buildings with office and warehouse space on fenced lot.
      3101 Dan Ave, Jonesboro, AR 72401
      View Details
    • New
      $499,000
      4,860 SF

      Office/Warehouse Buildings on Fenced Site

      Two buildings with office and warehouse space on 1.34 acres.
      3101 Dan Ave, Jonesboro, AR 72401
      View Details
    • $19,500,000
      25.00 Acres

      I-555 Industrial Land Tract 1

      Jonesboro, AR: Prime Industrial Land
      Interstate I-555 Nestle Rd, Jonesboro, AR 72401
      View Details
    • $775,000
      17.00 Acres

      Jonesboro Industrial Land - 17 Acres

      Prime Jonesboro industrial tract, I-2 zoning, city utilities.
      0 Floyd St, 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
    • $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
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    • $4,500 /Mo
      4,526 SF

      New Commercial Space in Jonesboro

      New commercial space suitable for warehouse or office use.
      3110 Fox Rd, Jonesboro, AR 72401
      View Details
    • $7 SF/Yr
      15,000 SF

      Modern Warehouse Space Available

      7,000 SF Industrial Sublease in Craighead County
      2504 Dr M.l.k. Jr Dr, Jonesboro, AR 72401
      View Details
    • $4 SF/Yr
      16,560 SF

      Jonesboro Warehouse and Office Space

      16,560 SF warehouse and office space for lease.
      511 Wilson St, Jonesboro, AR 72401
      View Details
    • $4 SF/Yr
      16,560 SF

      Warehouse and Office Space Available

      16,560 SF mixed warehouse and office space for lease.
      511 Wilson St, Jonesboro, AR 72401
      View Details
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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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