Jonesboro, Arkansas offers a unique opportunity for investors to capitalize on the city's growing economy through the purchase of retail properties. With a population of approximately 80,000 people, Jonesboro is a hub for commerce and industry in northeastern Arkansas. Retail properties in Jonesboro can represent a variety of investments, from small strip malls to large shopping centers, and can cater to a range of businesses, including restaurants, boutiques, and service providers. The city's amenities, infrastructure, and location make it an attractive place to invest in retail properties. For example, the city is home to Arkansas State University, which brings a steady stream of students and faculty to the area, and St. Bernard's Regional Medical Center, a major employer in the healthcare sector. Additionally, Jonesboro's location atop Crowley's Ridge provides easy access to major transportation routes, including the St. Louis Southwestern Railway and major roads like US-63 and US-49. The city's geography also makes it an attractive location for businesses looking to serve the surrounding region. With its strong economy and growing population, Jonesboro is an excellent place to invest in retail properties. The city is also home to several notable attractions, including the Fowler Center for Performing Arts and the Bradbury Art Museum, which draw visitors from across the region.
Jonesboro's retail properties are situated in a city with a diverse range of industries, including healthcare, education, and manufacturing. The city is also home to several major employers, including Arkansas State University and St. Bernard's Regional Medical Center. In addition to retail properties, Jonesboro also offers a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. For example, the city's shopping centers, such as The Mall at Turtle Creek, offer a range of retail and dining options, while its restaurants cater to a variety of tastes and cuisines. The city's office properties, including those located in the downtown district, provide a range of spaces for businesses, from small startups to large corporations. Jonesboro's hotels, including those located near the Arkansas State University campus, offer convenient accommodations for visitors and business travelers. With its diverse range of industries and commercial properties, Jonesboro is an attractive location for businesses and investors. Currently, there are 17 retail properties available for sale in Jonesboro, with an average price per square foot of $247 USD and an average size of 9,561 square feet. The largest retail property available for sale in Jonesboro is 26,750 square feet, offering a range of possibilities for investors and businesses.
What is the average cap rate for retail properties in Jonesboro?
When it comes to retail properties in Jonesboro, investors can expect an average cap rate of 7.7%. For those new to commercial real estate investing, a cap rate, or capitalization rate, is a crucial metric that helps determine the potential return on investment - to learn more, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Jonesboro, Arkansas, the location and foot traffic of retail properties significantly impact their values. For instance, properties situated near Arkansas State University, St. Bernard's Regional Medical Center, or along major roads like the St. Louis Southwestern Railway tracks tend to attract more foot traffic, thereby increasing their value, with an average price per square foot of $247 USD and an average cap rate of 7.7%.
