101 Johnson AveJonesboro, AR 72401

Property Details for 101 Johnson Ave

Property size (Sq ft)

8,000 SF

Property type

Retail space

APN

01-144182-06500

APU

114418206500

Description

This fee-simple, net-leased Dollar General storefront in Jonesboro, AR, presents a compelling investment opportunity. Located at 101 E Johnson Ave, this 8,000 square foot property sits on a 0.85-acre lot and boasts a strong 7.25% cap rate, generating a $57,000 annual NOI. The property benefits from a 10-year lease (commencing April 1, 2020, and expiring March 31, 2030), with 5.4 years remaining and two five-year renewal options. Rent increases are built in, with an 8% bump every five years. The tenant, Dollar General, is credit-rated and backed by a corporate guarantee, ensuring consistent income. The property is zoned I-1 and enjoys a prime location in downtown Jonesboro, serving a population exceeding 40,000 within a three-mile radius. Jonesboro's total population is 81,969, further enhanced by the presence of Arkansas State University, the state's second-largest university with over 14,000 students. The city's affordability and its status as a regional healthcare hub with two major medical campuses add to the property's long-term value. The asking price is $786,206, translating to $98.28 per square foot. This established, high-performing retail asset offers investors a secure and profitable addition to their portfolio. The property's APN is 01-144182-06500.

• CAP approach

  CAP return

  Valuation

  6%

  $2,688,086

  6.5%

  $2,481,310

  7%

  $2,304,074

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,571,674

  Geo Method

  $1,571,674

• Alternative Use

  Use

  Valuation

  Residential

  $2,093,078

  Hospitality

  $1,917,248

  Educational

  $1,595,128

  Medical

  $1,649,987

  Retail

  $2,481,310

Location Insight

City

Jonesboro

County

Craighead

State

Arkansas

Latitude

35.8449

Longitude

-90.7044

CBSA code

27860

CBSA name

JONESBORO, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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