Historic Mixed-Use
For Sale
$1,995,000
215 N East Avenue, Fayetteville, AR 72701
CommercialSale, Fayetteville, AR
Property Size4,512 SF
Lot Size0.14 Acres
Price / SF$442.15
Days on Market142
Property Features for 215 N East Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Parking
5
Lot features
Central Business District, City Lot
Directions
From College Ave turn West on E Spring St, then North on East Ave, and property will be on your left.
Standard status
Active
APN
765-01661-000
Size
4,512 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
PT N/2 LOT 5 BLOCK 2 FURTHER DESCRIBED FROM 2021-25877 AS: PART OF BLOCK NUMBERED TWO (2) AS DESIGNATED ON THE PLAT OF THE TOWN (NOW CITY) OF FAYETTEVILLE, ARKANSAS IN WASHINGTON COUNTY, ARKANSAS, AND MORE PARTICULARLY DESCRIBED AS BEGINNING AT A POI NT O
Tax Annual Amount
5759
Legal Description
PT N/2 LOT 5 BLOCK 2 FURTHER DESCRIBED FROM 2021-25877 AS: PART OF BLOCK NUMBERED TWO (2) AS DESIGNATED ON THE PLAT OF THE TOWN (NOW CITY) OF FAYETTEVILLE, ARKANSAS IN WASHINGTON COUNTY, ARKANSAS, AND MORE PARTICULARLY DESCRIBED AS BEGINNING AT A POI NT O
Building Details
Year built
1920
Listing Agency:
Lindsey & Associates Inc
(479) 521-6611
Listed By:
Jeff Pederson · License #SA00067378
(479) 856-2233
Added: Apr 1
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# 1340966
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.
This 4,512-square-foot mixed-use property combines occupied commercial space with two furnished apartments at the basement level. The commercial tenants are on month-to-month arrangements, providing an established occupancy profile and lease flexibility. Residential units add a separate income component within the building.
Originally built in 1920, the property retains historic character while incorporating a new roof, updated plumbing, and updated electrical service. The asset occupies 0.141 acres at 215 N East Avenue in Downtown Fayetteville, placing its mixed-use configuration within the city’s central commercial district.
Originally built in 1920, the property retains historic character while incorporating a new roof, updated plumbing, and updated electrical service. The asset occupies 0.141 acres at 215 N East Avenue in Downtown Fayetteville, placing its mixed-use configuration within the city’s central commercial district.
Key Highlights
- 4,512‑square‑foot mixed‑use property on 0.141 acres
- Commercial space is fully occupied by month‑to‑month tenants
- Two furnished luxury apartments located at the basement level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,124
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,362,480
$1.4M
Cap Rate 7%
$973,200
$973.2K
Cap Rate 9%
$756,933
$756.9K
Market Conditions
NOI Build-Up for 4,512 SF
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.
Gross rent
$97.5K $21.60/SF
− Vacancy
−$6.6K −$1.47/SF
EGI
$90.8K $20.13/SF
− OpEx
−$22.7K −$5.03/SF
NOI
$68.1K $15.10/SF
Area
Washington County, AR
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,362,480
Cap Rate 7%
$973,200
Cap Rate 9%
$756,933
Alternative Uses
Best Use
Office B
$973.2K
$851.6K – $1.14M
NOI $68,124 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$513.2K
$449.1K – $598.8K
NOI $35,926 @ 7.0% cap · market cap 1.80%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,777 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,026
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?
Mixed-use property - Fully occupied commercial space includes two furnished basement apartments and updated building systems.
Where is this mixed-use property located?
The property is located at 215 N East Avenue Fayetteville, AR.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4,512‑square‑foot mixed‑use property on 0.141 acres; Commercial space is fully occupied by month‑to‑month tenants; Two furnished luxury apartments located at the basement level
