Fully Leased Multi-Story Office
For Sale
$3,650,000
2 N College Avenue, Fayetteville, AR 72701
SINGLE_FAMILY - Fayetteville, AR
Property Size16,998 SF
Lot Size0.46 Acres
Price / SF$214.73
Days on Market144
Property Features for 2 N College Avenue
General Information
Property type
Residential
Property subtype
Office
Rooms
Basement
Lot features
Central Business District
Directions
From I-49, take exit 67A for US-71B S/College Ave toward Fayetteville. Continue south on US-71B S/N College Ave for approximately 3 miles. The property, located at 2 N College Ave, will be on your right, just past E Meadow St and directly across from the Historic Washington County Courthouse. Look for the distinctive 1905 building with its prominent facade.
Standard status
Active
APN
765-12715-000
Size
16,998 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Description
P L 244 NW 8 FT S SIDE & 75 FT OF 25 86/240 FURTHER DESCRIBED FROM 2010-16225 AS: PART OF THE SW 1/4 OF THE NW 1/4 OF SECTION 15, T-16-N, R-30-W, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED ON A PLAT-OF-SURVEY BY ALAN REID & ASSOCI ATES
Tax Annual Amount
30613
Legal Description
P L 244 NW 8 FT S SIDE & 75 FT OF 25 86/240 FURTHER DESCRIBED FROM 2010-16225 AS: PART OF THE SW 1/4 OF THE NW 1/4 OF SECTION 15, T-16-N, R-30-W, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED ON A PLAT-OF-SURVEY BY ALAN REID & ASSOCI ATES
Building Details
Year built
1905
Listing Agency:
CBRE, Inc-Fayetteville
(479) 301-2520
Listed By:
Hunter Groce · License #SA00083831
(479) 249-9520
Added: Mar 8
Changed: Jul 28
Last Checked: Jul 30 at 10:06PM
MLS# 1338558
Copyright © 2026 ArkansasONE MLS. 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.
Located at 2 N College Avenue in Fayetteville, AR, this fully leased, multi-story office building offers three floors of office space plus a basement. The property is described as meticulously maintained and totals 16,998 square feet.
The building includes 30 dedicated parking spaces and is positioned on College Ave with stated proximity to the University of Arkansas and the Washington County Courthouse. A lease extension is noted until July 2027, with availability for immediate occupancy also mentioned in the remarks.
For space planning, the layout is presented as functional office space distributed across three floors with a basement level, supported by the onsite parking count provided in the listing materials.
The building includes 30 dedicated parking spaces and is positioned on College Ave with stated proximity to the University of Arkansas and the Washington County Courthouse. A lease extension is noted until July 2027, with availability for immediate occupancy also mentioned in the remarks.
For space planning, the layout is presented as functional office space distributed across three floors with a basement level, supported by the onsite parking count provided in the listing materials.
Key Highlights
- Fully leased commercial building providing immediate income until July 2027.
- Prime location on College Ave near the University of Arkansas and Washington County Courthouse.
- 16,988 SF multi‑story building with three floors of functional office space and a basement.
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 | $367.2k | $21.60 |
| − Vacancy | −$25.0k | −$1.47 |
| EGI | $342.2k | $20.13 |
| − OpEx | −$85.5k | −$5.03 |
| NOI | $256.6k | $15.10 |
16,998 SF · lease $21.60/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.67M
$3.21M – $4.28M
NOI $256,643 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.56M
$3.99M – $5.32M
NOI $319,377 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-story office building with a basement, three floors of office space, and 30 dedicated parking spaces.
Where is this office building located?
The property is located at 2 N College Avenue Fayetteville, AR.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: Fully leased commercial building providing immediate income until July 2027.; Prime location on College Ave near the University of Arkansas and Washington County Courthouse.; 16,988 SF multi‑story building with three floors of functional office space and a basement.
