Four-Unit Townhome Multifamily
For Sale
$750,000
Pending
444 & 446 N Albert Pike AVE, Fort Smith, AR 72903
Multifamily, Fort Smith, AR
Property Size6,132 SF
Lot Size2.18 Acres
Days on Market48
Property Features for 444 & 446 N Albert Pike AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
12
Rooms
Bedroom 1, Bedroom 7, Bedroom 6, Bedroom 9, Bedroom 11, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 12, Bedroom 4, Bedroom 10, Bedroom 5
Parking features
Garage - Attached
Window features
Double Pane Windows
Patio and Porch features
Patio
Appliances
Countertop, Dishwasher, Electric, Energy Star, Microwave, Oven
Subdivision
Emilees Place
Lot features
Cleared, Level
Elementary school
Albert Pike
Middle school
Darby
High school
Northside
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
From Rogers Ave, turn right into S Albert Pike Ave, townhomes are located on right.
Standard status
Pending
APN
16102-0001-00000-00
Size
6,132 SF
Lot size
2.18 Acres
Taxes and HOA fees
Tax Description
Lot #1 & 2, Subdivision: Emilee's Place, S-14, T-08, R-32, Sebastian County, Parcel Number 16102-0001-00000-00, 16102-0002-00000-00
Tax Annual Amount
3018
Legal Description
Lot #1 & 2, Subdivision: Emilee's Place, S-14, T-08, R-32, Sebastian County, Parcel Number 16102-0001-00000-00, 16102-0002-00000-00
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Amenities
tankless water heater
Building Details
Year built
2019
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl
Roof type
Shingle
Listing Agency:
The Heritage Group Real Estate - Barling
(479) 806-5955
Listed By:
Gina Evans
(918) 221-4284
Added: Aug 10
Changed: Sep 15
Last Checked: Sep 26 at 4:06PM
MLS# 1091029
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 multifamily property comprises two townhome buildings with four total units and 6,132 square feet of building area. Constructed in 2019, the property sits on approximately 2.18 acres, with each residence offering three bedrooms, 2.5 bathrooms, a two-car attached garage, and a tankless water heater. Interior features include carpet and vinyl flooring, electric appliances, Energy Star equipment, and central heating and air conditioning.
Located at 444 & 446 N Albert Pike AVE in Fort Smith, the property is near the University of Arkansas–Fort Smith. All four units are currently occupied. Additional improvements include patios and shingle roofing, while natural gas serves the central heating system.
Located at 444 & 446 N Albert Pike AVE in Fort Smith, the property is near the University of Arkansas–Fort Smith. All four units are currently occupied. Additional improvements include patios and shingle roofing, while natural gas serves the central heating system.
Key Highlights
- Four total units across two townhome buildings; all 100% occupied
- 6,132 square feet on approximately 2.18 acres
- Built in 2019
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
$36,313
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
4.84%
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%
$726,260
$726.3K
Cap Rate 7%
$518,757
$518.8K
Cap Rate 9%
$403,478
$403.5K
Market Conditions
NOI Build-Up for 6,132 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
$71.4K $11.64/SF
− Vacancy
−$5.4K −$0.87/SF
EGI
$66.0K $10.77/SF
− OpEx
−$29.7K −$4.85/SF
NOI
$36.3K $5.92/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$726,260
Cap Rate 7%
$518,757
Cap Rate 9%
$403,478
Alternative Uses
Best Use
Apartment 5plus
$518.8K
$453.9K – $605.2K
NOI $36,313 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.30M
$1.14M – $1.52M
NOI $91,325 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two townhome buildings are fully occupied and include attached garages, patios, and central heating and cooling.
Where is this multifamily property located?
The property is located at 444 & 446 N Albert Pike AVE Fort Smith, AR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four total units across two townhome buildings; all 100% occupied; 6,132 square feet on approximately 2.18 acres; Built in 2019
