Remodeled Historical Office
120 N 16th ST Fort Smith, AR 72901
For Sale
$599,000
COMMERCIAL - Fort Smith, AR
Property Size5,112 SF
Lot Size0.32 Acres
Price / SF$117.18
Days on Market352
Property Features for 120 N 16th ST
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Rooms
- Basement
- Parking features
- Assigned, On Street
- Standard status
- Active
- APN
- 12763-0006-00029-00
- Size
- 5,112 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- LOTS 5 & 6 BLK 29
- Tax Annual Amount
- 3361
Utilities
- Heating system
- Natural Gas, Central
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 1900
- Flooring type
- Vinyl, Wood, Tile - Ceramic
- Roof type
- Shingle
Listing Agency:
O'Neal Real Estate
(479) 739-8087
Listed By:
Aaron O'Neal · License #155637
(918) 774-5743
Added: Aug 7, 2025
Changed: May 14
Last Checked: Jul 24 at 7:06AM
MLS# 1083009
Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historical commercial office building in Fort Smith, Arkansas, was completely remodeled in 2018. The 5,112 square foot building features new electric, updated plumbing, and zoned heat and air. All windows have been replaced. The interior layout includes five offices, two conference rooms, and a kitchen. A third-story apartment is also included. The building retains its original woodwork. Two gas fireplaces are present, along with a beautiful entry and stairs. The property is situated on a 0.3214-acre lot.
Key Highlights
- Completely remodeled in 2018 with new electric, updated plumbing, zoned heat and air, and new windows.
- Includes a 3rd story apartment.
- Features 5 offices and 2 conference rooms.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.6k | $14.40 |
| − Vacancy | −$5.5k | −$1.08 |
| EGI | $68.1k | $13.32 |
| − OpEx | −$17.0k | −$3.33 |
| NOI | $51.1k | $9.99 |
5,112 SF · lease $14.40/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$729.6K
$638.4K – $851.2K
NOI $51,069 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.09M
$951.7K – $1.27M
NOI $76,134 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Aundrea Stone Hanna, ...
Law Firm
FAQs
What type of property is this?
Office building - Remodeled office building featuring original woodwork and a third-story apartment.
Where is this office building located?
The property is located at 120 N 16th ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Completely remodeled in 2018 with new electric, updated plumbing, zoned heat and air, and new windows.; Includes a 3rd story apartment.; Features 5 offices and 2 conference rooms.
