723 Parker RdJonesboro, AR 72404

Property Details for 723 Parker Rd

Lot size

1.69 AC

Property size (Sq ft)

6,897 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

01-144311-00804

APU

114431100804

Description

This exceptional investment opportunity presents a fee-simple interest (land and building) in a fully occupied, four-tenant retail property situated in Jonesboro, Arkansas. The property boasts a prominent location at 723 E Parker Rd, benefiting from high visibility and convenient access via Interstate 555 (37,000 vehicles per day). Anchored by an Arby's restaurant featuring a drive-through, the 6,600 square foot center also includes three additional tenants. The Arby's lease is a new 20-year agreement with four 5-year options, ensuring long-term stability. All leases are triple-net (NNN), minimizing landlord responsibilities and maximizing investor returns. The property sits on a 1.39-acre lot with 60 parking spaces and is zoned C-3. Built in 2017, the property generates a substantial net operating income (NOI) of $193,404, representing a compelling 6.50% capitalization rate. Its strategic location near a Home Depot, Walmart Supercenter, Waffle House, and Sonic, along with other national retailers, ensures consistent high traffic and strong consumer demand. The surrounding 5-mile trade area boasts a population exceeding 45,000, with an average household income over $100,000 within a 1-mile radius. This property offers a low-management, high-return investment opportunity with significant long-term potential. The asking price is $2,975,000. The property's parcel number is 01-144311-00804.

• CAP approach

  CAP return

  Valuation

  6%

  $2,317,466

  6.5%

  $2,139,200

  7%

  $1,986,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,354,979

  Geo Method

  $1,354,979

• Alternative Use

  Use

  Valuation

  Residential

  $1,804,495

  Hospitality

  $1,652,908

  Educational

  $1,375,200

  Medical

  $1,422,495

  Retail

  $2,139,200

Location Insight

City

Jonesboro

County

Craighead

State

Arkansas

Latitude

35.8062

Longitude

-90.7012

CBSA code

27860

CBSA name

JONESBORO, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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