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    Property profile & analytics

    3009 Highland Dr Jonesboro, AR 72401-6257

    • Strip malls
    • 25,306 SF
    • 2.41 lot acres
    OFF-MARKET
    Last Sale
    Jun 02, 2022
    $6,920,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0651105
    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

    • SKECHERS Warehouse Outlet / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • Mai Pai Thai Cuisine / Restaurant
    • TagWorks / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • Alterations by David's Bridal Jonesboro AR / (Bike/Boat/Book/etc) Store
    • PetSmart / (Bike/Boat/Book/etc) Store / Pet Store & Service

    Property Details for 3009 Highland Dr

    Lot size
    2.41 lot acres
    Property size
    25,306 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    01-144281-00810
    APU
    114428100810

    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
    -90.6683
    Latitude
    35.8199
    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
    $35,774
    $412,540
    $435,195
    $847,735
    -
    $2,062,700
    $2,175,975
    $4,238,675

    Comparable in this City

    • Value Estimation
      $890,000
      10,718 SF

      2704 Culberhouse St

      SHOPPING CENTER, STRIP CENTER • 10,718 SF
      2704 Culberhouse St, Jonesboro, AR 72401-7107
      View Details
    • Value Estimation by Request
      4,846 SF

      1410 Franklin St

      SHOPPING CENTER, STRIP CENTER • 4,846 SF
      1410 Franklin St, Jonesboro, AR 72401-5214
      View Details
    • Value Estimation
      $1,890,000
      26,000 SF

      1903 Grant Ave

      SHOPPING CENTER, STRIP CENTER • 26,000 SF
      1903 Grant Ave, Jonesboro, AR 72401-6134
      View Details
    • Value Estimation
      $1,120,000
      10,500 SF

      1810 Highland Dr

      SHOPPING CENTER, STRIP CENTER • 10,500 SF
      1810 Highland Dr, Jonesboro, AR 72401-6112
      View Details
    • Value Estimation
      $1,265,000
      15,000 SF

      2207 Highland Dr

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      2207 Highland Dr, Jonesboro, AR 72401-6127
      View Details
    • Value Estimation
      $605,000
      7,200 SF

      206 Melrose St

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      206 Melrose St, Jonesboro, AR 72401-2388
      View Details

    Similar Nearby for Sale

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      7,200 SF

      Jonesboro Retail Center Near University

      Seven-unit retail center near Arkansas State University.
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    • $1,258,000
      3.67 Acres

      Commercial Land Near Arkansas State

      3.67 acre commercial lot in Jonesboro, Arkansas.
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    • $26,500,000
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      Jonesboro Retail Power Center

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      Fully Leased Retail Investment Property

      Fully leased retail investment in established commercial corridor near Arkansas State.
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      Retail Box Opportunity in Jonesboro

      27,490 SF retail space for lease in Jonesboro, Arkansas.
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      Turn-Key Restaurant, Bar, and Venue

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    Similar Nearby for Lease

    • $10 SF/Yr
      2,550 SF

      Retail Space in Jonesboro, AR

      High-visibility retail space with strong foot traffic in Jonesboro.
      2929 S Caraway Ste 2 & 3, Jonesboro, AR 72401
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    • $14 SF/Yr
      1,275 SF

      Retail Space in Jonesboro, AR

      High-visibility retail space with strong foot traffic in Jonesboro.
      2929 S Caraway Rd, Jonesboro, AR 72401
      View Details
    • $13 SF/Yr
      7,370 SF

      Retail Space in Jonesboro, AR

      Retail space with high visibility and strong foot traffic.
      2929 S Caraway Rd, Jonesboro, AR 72401
      View Details
    • $14 SF/Yr
      1,275 SF

      Retail/Office Space in Jonesboro, AR

      High-visibility retail/office space with strong foot traffic in Jonesboro.
      2929 S Caraway Rd, Jonesboro, AR 72401
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      Jonesboro Retail Space - 7708 SF

      High-traffic retail building, ideal for church or similar use.
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    • New
      $14 SF/Yr
      1,275 SF

      High-Visibility Retail/Office Space Available

      Retail/office units with high traffic and build-out options.
      2929 S Caraway Rd, Jonesboro, AR 72401
      View Details
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    Jonesboro, AR 72401-6257
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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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