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451 Southwest Drive, Jonesboro, AR

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451 Southwest Drive

Jonesboro, AR 72401

Property Type:Retail Sub Type:- Status:Existing Year Built:-
Building Size:9,000 SF Land Area:.4 AC (17,424 SF)
For Sale Price:$575,000 Price/SF:$63.89
Cap Rate:-
Parking:Ratio of /1,000 SF

This 8,950 square foot fully leased center is located at the corner of Southwest Drive and Glenwood Drive. With no land available on this stretch of Southwest Drive, investment retail property rarely comes available for sale. This property offers excellent upside as rents are half of market rates.
There is an extremely low vacancy rate on Southwest Drive offering this project as a solid long-term investment. A rent raise is well overdue as the building is currently renting for less than $5/SF. The potential here is for an investor to yield well over a 9% return.

This is an ideal investment for someone interested in going after a high return deal on a great corner at one of Jonesboro' s thoroughfares.

Located along U.S. Highway 63 (soon to be Interstate 555), Jonesboro is the retail epicenter of Northeast Arkansas. Despite negative trends of other marketplaces nationwide, Jonesboro is one of only 26 cities in the 363 metropolitan statistical areas in the U.S. that has not only recovered jobs lost from the economy' s recent downfall but has added to them!

Jonesboro continues to be the primary bastion of growth and investment. Serving a trade area of over 500,000 people in almost twenty-four counties in Arkansas, Missouri and Tennessee, Jonesboro has steadily grown over 40% in size since 1990 and is estimated to maintain that same or greater level of growth over the next 20 years. With a 363,689 primary trade area population, Jonesboro clearly serves more than its 68,000 residents.

Jonesboro is also the home of the Arkansas State University Red Wolves, which is one of the fastest growing universities in Arkansas and becoming one of the Mid-South' s top institutions.

NEA Baptist is getting settled into their $400 million dollar health care facility, the largest health care investment in Arkansas in the last decade.

Sale Notes:
This property is located in the section of Southwest Drive which sees one of the highest traffic counts within the district. Southwest Drive leads to Highland Drive, which is the main thoroughfare between Jonesboro retail and Southwest districts.

Parking is ample in this area and on property. Situated minutes away from two high schools, churches and banks, this would be an ideal and easily accessible location for passers-by.

The building is heated and cooled and boasts an impressive 9,000+/- sqft suited to retail or office.

Halsey Thrasher Harpole Real Estate Group
Roddy Thrasher
(870) 219-9920

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