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23528620
23491118

2010 S Caraway Rd, Jonesboro, AR 72401

NE
AR EB 00077644
Haag Brown Commercial Real Estate and Development
JB
EB00063743
Haag Brown Commercial Real Estate and Development
Listed by Haag Brown Commercial Real Estate and Development
$26,500,000
1137 days on market
Updated 4 days ago

Highland Square: Best Intersection in Jonesboro

Details
APN 01-144282-00700, 01-144282-00900, 01-144282-00100, 01-144282-01200, 01-144282-00800, 01-144282-02300, 01-144282-01100, 01-144282-03500, 01-144282-01000
Property Type Retail
Sub Type Shopping Center
Square Footage 247,870
Cap Rate 5.63%
NOI $1,491,663
Occupancy 96.6%
Tenancy Multi
Lease Type NNN
Price per SqFt $125
Broker Co-Op Yes
Year Built 1979
Year Renovated 2019
Buildings 4
Stories 1
Acreage 21.000
Zoning Commercial
Parking Spaces 1,100 spaces
Parking Per SqFt 4.44
Sale Condition For sale by owner

“A Regional Power Center w/ Excellent Tenants”

Marketing description

Haag Brown Commercial has an extremely rare opportunity to bring the Highland Square shopping center to the market. This development has been a staple at the signalized intersection of Highland Drive and Caraway Road, the city's primary center of trade, for decades. The property has exposure to over 44,000 cars per day and is highly recognized by the 550,000 consumers that frequent Jonesboro.

Highland Square is strategically placed, surrounded by the top grocer in the market, Kroger Marketplace, the market's dominant Walmart Super Center, & the most recent redevelopment, The Uptown. It is also close in proximity to Sam's Club, Hobby Lobby, Burlington Coat Factory, Lowe's, & sits less than 3/4 of a mile from Interstate 555.

The 21+ acre property includes a 192,537 square foot shopping center, which is home to multiple retailers such as Cato Fashions, Barton's Home Improvements, Sally's Beauty Supply, and Trees & Trends. Kmart was the center's original anchor, occupying the 82,000+ square foot northern end-cap. Within the last 6 years, the space has been completely renovated & Haag Brown Commercial has added brand new tenants, including Ross, Micheal's, & Play It Again Sports. The property also features (4) restaurant out-pads occupied by Taco Bell, KFC, Golden Corral, & Freddy's Frozen Custard & Steakburgers.

Investment highlights

    • First Time This Investment Has Ever Been on the Market!!!
    • Long Standing Staple at the Signalized Intersection of Highland Drive and Caraway Road
    • Exposure to 44,000 Cpd W/ Multiple Access Points to Caraway Rd. & E. Highland Dr.
    • Situated on More Than 21 AC - Room for Expansion
    • Includes 190,000+ Sf Retail Center and (4) Restaurant Out Parcels
    • Ownership Has Added 6 Highly Sought After Tenants in 2 Years
    • Regional Shopping Destination That Has Been a Staple in Jonesboro for Decades!

    Listing Contacts

    NE
    AR EB 00077644
    Haag Brown Commercial Real Estate and Development
    JB
    EB00063743
    Haag Brown Commercial Real Estate and Development
    Listed by Haag Brown Commercial Real Estate and Development

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    $
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    Loan Amount
    $0.00
    Annual Debt Service
    $--
    $--
    Annual Cash Flow
    $1,491,663.00
    $124,305.25/mo

    Valuation Metrics

    0
    DSCR
    5.63%
    Cap Rate
    5.63%
    ROI

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    Additional Information

    Name
    Nathan Eller
    License
    EB 00077644
    *All information is deemed reliable but not guaranteed. Buyer to verify all information.
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