3101 Highland Dr, Jonesboro, AR 72401
9,000 SF | Retail Building | Jonesboro, AR 72401 | $2,874,000 ($319/SF) | 7.75% Cap Rate
For Sale
Active
Asking Price $2,874,000
- Property Type
-
Retail
- Square Feet
- 9,000 SF
- Price / Square Foot
- $319
Listing Contacts
Jereme Snyder
Eric Carlton
Mason Lewis
Property Overview
The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire the single tenant, corporate guaranteed lease Kirkland’s in Jonesboro, AR. Kirkland’s Home operates over 340 Locations across 35 states, employs over 4,000 team members and had over $560M in sales in 2021. Exhibiting the strength of this location, the tenant has recently extended the lease for an additional 10 years with 2% annual rental increases, two 5-year option periods, limited landlord responsibilities (structure only), and a corporate guarantee making this asset is ideal for an investor seeking years of inflation resistant cash flows.
Property Details
- Class
- C
- Year Built
- 2012
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 42,689 SF
Highlights
- Located approx. 1-mile from Arkansas State University - Over 15,000 Students
- Corporate Guaranteed lease with Kirkland’s, Inc.- New Lease Extension – 10 Years in Primary Term
- 2% Annual Rent Increases – Inflation Resistant
- New 20 Year Roof Warranty in Place Since 2021
- Located Just Off Main Highway Intersections of Red Bluff Blvd. and E. Highland Dr. (Over 50,845 VPD)
- Newly Redeveloped Store in 2021 - 9,030 SF building on 0.98 Acre Parcel
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