Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Drake Street Apartments in Jonesboro, AR. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in downtown Jonesboro. Drake Street Apartments, located in Jonesboro, AR, presents an immediate value-add opportunity with current rents approximately $90 below the market rate. Situated just 1.5 miles from both Arkansas State University and downtown Jonesboro, the property benefits from strong demand drivers, including student and young professional tenants. Additionally, it is 8 miles from the 2,100-acre Craighead Technology Park, a regional employment hub attracting high-skilled labor in the tech and manufacturing sectors. The three buildings are separately metered and feature durable slab construction, Plex plumbing, and copper wiring. All units include in-unit washer and dryer appliances, enhancing tenant appeal and supporting future rent growth. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE DRAKE STREET APARTMENTS.