CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401
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CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 Gross Leasable Area 161,538 SF Current Occupancy 97.5% Year Built/Renovated 1969/2002/2018 13,000 Additional SF Approved for Outparcel Tenants CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 LIST PRICE: $22,900,000 NET OPERATING INCOME: $1,694,788 CAP RATE: 7.4% INCOME CURRENT PROFORMA CASH FLOW AVERAGE Base Rent $1,721,375 $1,767,251 Vacant Rent $60,000 Percentage Rent $30,447 $30,447 Gross Leasable Area 161,538 SF Expense Reimbursements $212,584 $218,126 Year Built/Renovated 1969/2002/2018 Vacancy Factor ($48,000) ($0) Effective Gross Income $1,962,281 $2,015,823 Lot Size 18.00 AC Total Expenses $267,493 $267,493 Current Occupancy 97.5% www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE LOCATION Caraway Plaza has established itself as the premier open-air shopping center in the entire Northeast Arkansas region; boasting the largest assemblage of national retail tenants outside The Mall at Turtle Creek. It is located at the highly trafficked intersection of South Caraway Road and Nettleton Avenue (42,000 vehicles per day). Anchor tenants include TJ Max, Old Navy, Natural Grocers, Petco, Rackroom Shoes and Five Below. Each unit is equipped with ample parking, great visibility and high exposure. Caraway Road has recently reemerged in the Jonesboro market with tremendous growth since the relocation of Kroger Marketplace, and the addition of Burlington and Planet Fitness. Improved traffic infrastructure and other investments by the City of Jonesboro in the vicinity of this property have reiterated the importance of this location to the community. Jonesboro is a city of distinction in Northeast Arkansas. Jonesboro is the 5th largest city in Arkansas, with a population of over 70,000. Our Metropolitan Statistical Area (MSA) is over 120,000 with a Trade Area of over 500,000. Jonesboro is centrally located with easy access to other major markets, including America’ s Distribution Center, Memphis, Tennessee. Jonesboro 97.5% Occupied Power Center provides a positive business environment with a diversified economic foundation. A well qualified workforce, low cost utilities, the training capabilities of Arkansas Long Leases with New & Extended Terms State University and an overall low cost of doing business are just a few reasons why many companies are proud to call Jonesboro home. In addition, the quality of Some Tenants Report Sales life is exceptional, with an award winning educational system, excellent healthcare facilities, abundant retail opportunities and numerous recreational and cultural Triple-Net Leases Besides Hallmark Who Pays Base and Percentage Rent Renovated in 2018 www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 To Be Built While the center is 97% occupied, the current zoning and parking capacity allows for an additional 13,000 SF to be built as designed on the site plan above. www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 TENANT SQUARE FOOTAGE PERCENTAGE PRO RATA LEASE COMMENCE Barnhills 11,550 7.15 % 9/1/1994 Griffin Power Yoga 2,250 1.39% 6/13/2018 Hallmark 8,625 5.34% 11/1/2016 Five Below 8.577 5.31% 7/1/2018 VIP Nails 1,200 .74% 5/1/2000 Big E Nutrition 1,200 .74% 8/1/2018 Petco 14,620 9.05% 2/10/2003 Vacant 4,000 2.48% Rack Room 6,700 4.15% 3/20/2002 Old Navy 12,500 7.74% 2/3/2002 Home Goods 23,250 14.39% 3/17/2018 TJ Maxx 30,000 18.57% 10/21/2001 Blonde Ambition 3,354 2.08% 8/1/2012 Natural Grocers 25,312 15.67% 2/1/2017 China Buffet 7,140 4.42% 12/1/2009 Vacant - Pad (MT Retail) 0% Shipley Donuts 1,260 .78% 1/1/2012 OCCUPIED 157,538 97.52% VACANT 4,000 2.48% www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 AREA OVERVIEW - Jonesboro, AR Jonesboro is a city located on Crowley’s Ridge in the northeastern corner of the U.S. State of Arkansas. Jonesboro is one of two county seats of Craighead County and the home of Arkansas State University. According to the 2010 Census,the city had a population of 67,308 and is the fifth-largest city in Arkansas. Jonesboro is the cultural and economic center of northeastern Arkansas. It is the principal city of the Jonesboro, Arkansas Metropolitan Statistical Area. In 2010, the Jonesboro metropolitan area had a population of 121,026 and a population of 163,116 in the Jonesboro-Paragould Combined Statistical Area. Jonesboro is a regional center for manufacturing, agriculture, medicine, education, and trade. www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE TENANTS OLD NAVY One of the region’s favorite clothing retail locations, Old Navy at Caraway Plaza boasts everything from your favorite T-shirts and jeans to your seasonal fashion faves. A place where every family member is invited. Where everything has great style and quality and the shopping experience is actually fun, not a chore. As one of the world’s largest apparel brands, Old Navy has become a staple in this market and an incredible anchor for this center. HOME GOODS At HomeGoods Jonesboro, AR you’ll discover, high-quality, handcrafted merchandise for every style and every room all at significant savings. You’ll find an ever changing selection of home décor & fashions from around the world. Get inspiration for your kitchen & dining furniture, bed and bathroom, and even pieces to complete space for your kids and pets. We have the final touches for when you are about to entertain guests and plenty of items when it is time to organize and clean. Plus, new styles arrive all the time so you never know what you’ll find. www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE TENANTS NATURAL GROCERS Natural Grocers is Northeast Arkansas’ largest grocery supplier of natural, organic and healthy food products. The parent company was founded in 1955 and the first location was opened in 1963. Since that time, Natural Grocers has grown into a publicly traded grocery chain with 140 stores in 19 states. They are a tremendous asset to the market and to Caraway Plaza. RACK ROOM SHOES Rack Room shoes has grown into one of America’s most successful footwear retailers, boasting over 450 locations in 24 states and growing. The company will celebrate its 100th year in business in 2020; and they continue to be a tremendous retail draw for Caraway Plaza. By offering the best selection, brands, service, convenience and value, Rack Room Shoes remains poised for great achievements in the years to come. www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE TENANTS PETCO Our Jonesboro AR pet store location offers a wide selection of top quality products to meet the needs of a variety of pets. High quality foods are available for nearly all pet types whether you have a dog, cat, reptile, fish, small animal or feathered friend. For your dog, find everything from dog tags and collars to beds and gates, bark control and everything in between. For cats, shop a wide selection of essentials including cat scratchers, cat litter, collars and more. You can also personalize pet ID tags for cats in-store, so your pet wears your most up to date contact information. For fish, small animals, reptiles, birds and more, the variety is immense. At Petco you can easily find small animal bedding, saltwater aquarium supplies, bird cages, habitat foggers, toys, treats and more. TJ MAXX Shop high-end designer fashion and brand names you love, all at prices that let your individual style shine. At T.J.Maxx Jonesboro, AR you’ll discover women’s & men’s clothes that match your style. You’ll find the perfect final touches for every outfit - handbags, accessories & more. And when your home needs a decor refresh, we have so many styles to choose from. Plus, new styles arrive all the time, so you never know what you’ll discover next. www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE TENANTS BARNHILLS Barnhill’s Buffet is a destination restaurant for Jonesboro and Northeast Arkansas. Young and old alike are drawn to their incredible buffet with a wide assortment of home cooked food such as baked chicken and fish, pulled pork, southern fried catfish, delicious cooked vegetables, a fresh salad bar and an impressive array of desserts. FIVE BELOW Five Below is a store with unlimited possibilities where tweens, teens and beyond are free to let go & have fun in a color- popping, music pumping, super-fun shopping experience where you’ll always find the coolest stuff for $5 or less making it easy to say yes and smile big with our tech, tees, sports balls, beauty, candy, remote control toys and so much more for literally everyone! www.HalseyThrasherHarpole.com | O: 870.972.9191 | F: 870.972.9220 | 301 West Washington Avenue, Suite 200 | Jonesboro, Arkansas 72401 CARAWAY PLAZA 1221 S Caraway Rd., Jonesboro, AR 72401 ABOUT THE TENANTS JUNE’S HALLMARK June’s Hallmark, founded in 1963, offers a wide range of cards and gift items for any occasion.