Fourplex with Two-Bedroom
For Sale
$200,000
Pending
700 N 12TH ST Unit #1-4, Fort Smith, AR 72901
MULTI_FAMILY - Fort Smith, AR
Property Size2,850 SF
Lot Size0.16 Acres
Days on Market220
Property Features for 700 N 12TH ST Unit #1-4
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Family
Bedrooms
8
Rooms
Bedroom 6, Bedroom 2, Bedroom 4, Bedroom 7, Bedroom 3, Bedroom 1, Bedroom 8, Bedroom 5
Window features
Single Pane Window(s)
Patio and Porch features
Deck
Appliances
Electric, Range
Subdivision
City
Lot features
Cleared, Corner, Level, Sidewalk
Elementary school
Tilles
Middle school
Darby
High school
Northside
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
From I 540 take exit 6 on Grand Ave, Turn on 14th St, at Darby Middle School, left on N G & the property is on the corner of N 12th & N G Streets
Standard status
Pending
APN
11317-0001-00089-00
Size
2,850 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 1 Blk 89
Tax Annual Amount
1023
Legal Description
Lot 1 Blk 89
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Building Details
Floors in Building
1
Number of units
4
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
Diamond Real Estate & Property Management
(479) 242-3322
Listed By:
Delores Wheat
(479) 242-3322
Added: Jan 17
Changed: Aug 4
Last Checked: Aug 25 at 4:06AM
MLS# 1086504
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 fourplex is configured with two bedrooms and one bathroom per unit. Units 2, 3, and 4 have newer laminate flooring and new paint. Unit 3 is currently vacant, and the rehab work has started, with completion planned before it is brought to the projected rent schedule described in the remarks. The tenant utility arrangement is also stated: the owner pays water and then passes the bill on to the tenants.
The property sits on a 0.16-acre lot and totals 2,850 square feet. Each unit is equipped with electric heating (baseboard) and window unit cooling, and includes electric appliances including a range. A deck is listed among the patio and porch features, and the roof is shingle.
Located at 700 N 12TH ST Unit #1-4 in Fort Smith, Arkansas (72901), this quadplex provides an income-property format suited to both established and new investors.
The property sits on a 0.16-acre lot and totals 2,850 square feet. Each unit is equipped with electric heating (baseboard) and window unit cooling, and includes electric appliances including a range. A deck is listed among the patio and porch features, and the roof is shingle.
Located at 700 N 12TH ST Unit #1-4 in Fort Smith, Arkansas (72901), this quadplex provides an income-property format suited to both established and new investors.
Key Highlights
- Multi Family zoned fourplex with two bedrooms and one bathroom per unit
- Units 2, 3, and 4 have newer laminate flooring and new paint
- Unit 3 is vacant and rehab has started
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
$16,877
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
8.44%
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%
$337,540
$337.5K
Cap Rate 7%
$241,100
$241.1K
Cap Rate 9%
$187,522
$187.5K
Market Conditions
NOI Build-Up for 2,850 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
$33.2K $11.64/SF
− Vacancy
−$2.5K −$0.87/SF
EGI
$30.7K $10.77/SF
− OpEx
−$13.8K −$4.85/SF
NOI
$16.9K $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%
$337,540
Cap Rate 7%
$241,100
Cap Rate 9%
$187,522
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,900 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,877 @ 7.0% cap · market cap 8.44%
Theoretical Best
Healthcare Medical
$606.4K
$530.6K – $707.4K
NOI $42,446 @ 7.0% cap · market cap 21.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex in Multi Family zoning featuring two-bedroom, one-bath units, with unit 3 vacant as rehab work has begun.
Where is this quadplex located?
The property is located at 700 N 12TH ST Unit #1-4 Fort Smith, AR.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Multi Family zoned fourplex with two bedrooms and one bathroom per unit; Units 2, 3, and 4 have newer laminate flooring and new paint; Unit 3 is vacant and rehab has started
