1843A Highland DrJonesboro, AR 72401

Property Details for 1843A Highland Dr

Lot size

8.17 AC

Property size (Sq ft)

99,662 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A shopping center in Jonesboro, Arkansas, presents a compelling investment opportunity. Priced at $13,650,000, this 99,662 square foot property boasts a 7.48% cap rate and a strong net operating income (NOI) of $1,021,465. The center features a diverse mix of four tenants, including a Hobby Lobby anchored by a new 10-year lease, Shoe Carnival, Lucky's Mattress & Furniture, and a VA Clinic. Situated on an 8.17-acre lot with 313 parking spaces, the property benefits from a prime location in Jonesboro's thriving retail corridor, experiencing over 22,000 vehicles daily. Recent renovations include exterior painting and parking lot resurfacing. The property is zoned C-3 and features one building, built in 2023. The lease type is NNN, with rent bumps included. This multi-tenant investment offers exceptional value and strong potential for future growth, well below replacement cost. The property's location adjacent to a major Walmart Supercenter further enhances its desirability and ensures consistent high traffic. This is a rare opportunity to acquire a premier retail asset in a high-demand market.

Location Insight

City

Jonesboro

County

Craighead

State

Arkansas

Latitude

35.8203

Longitude

-90.6837

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