3101 E Highland Dr Jonesboro, AR 72401
Property profile & analytics
3101 E Highland Dr Jonesboro, AR 72401
- Retail space
- 8,960 SF
- 0.98 lot acres
Property ID
US05-1072984
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.
Location Intelligence
Current Use by Public Records
- Kirkland's Home / Furniture & Home Goods / Home Decor Store
Property Details for 3101 E Highland Dr
- Year built
- 2021
- Lot size
- 0.98 lot acres
- Property size
- 8,960 SF
- Property type
- Retail space
- APN
- 01-144281-01000
- APU
- 114428101000
Description
This exceptional investment opportunity presents a 9,030 square foot Kirkland's storefront in Jonesboro, Arkansas, situated on a 0.98-acre lot. Boasting a strong location approximately one mile from Arkansas State University (over 15,000 students), this property benefits from high visibility at a major intersection with over 50,845 vehicles passing daily. The property features a newly redeveloped building (2021), a new 20-year roof warranty, and a corporate-guaranteed, single-tenant net lease with Kirkland's, Inc. The lease, recently extended, includes a 10-year primary term with 2% annual rent increases, providing inflation-resistant cash flow. The property's strong location is further enhanced by its proximity to Turtle Creek Mall, currently undergoing redevelopment. With a 9% cap rate, $222,750 NOI, and a remaining lease term of 9.6 years (expiring June 30, 2034), this asset offers a compelling investment opportunity. The asking price is $2,475,000, translating to $274.09 per square foot. The robust demographics of the area, with over 76,822 residents within a 5-mile radius and an average household income exceeding $96,562, further solidify this investment's potential. The lease commenced October 24, 2012. Kirkland's, a national retailer with over 340 locations and $560 million in 2021 sales, demonstrates the tenant's financial strength and stability.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,270,000
- 6.5%
- $1,175,000
- 7%
- $1,090,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,238,000
- AI Estimate
- $994,000
Market price range: $368k - $1.24MMarket price range: $270k - $994k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $820,000 Current use
- RESTAURANT
- $1,825,000 Change: +122% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,200,000 Change: +46% Conversion: Moderate
- OFFICE BUILDING
- $1,005,000 Change: +23% Conversion: Easy
- AUTO REPAIR, GARAGE
- $740,000 Change: -10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.667
- Latitude
- 35.8207
- 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
$15,490
$140,870
$226,194
$367,064
-
$704,350
$1,130,970
$1,835,320
