16-Unit Apartment
For Sale
$2,500,000
856-898 S Curtis Avenue, Fayetteville, AR 72701
CommercialSale, Fayetteville, AR
Property Size18,944 SF
Lot Size1.29 Acres
Price / SF$131.97
Days on Market118
Property Features for 856-898 S Curtis Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Directions: I- 49 - Exit 62 (MLK) - Head East - South On Curtis - Townhouses On Left
Standard status
Active
APN
765-15068-000
Size
18,944 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
PT NE NE 1.29 AC FURTHER DESCRIBED FROM 2018-33735 AS: PART OF THE NE OF THE NE OF SECTION 22, T-16-N, R-30-W, FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NE CORNER OF SECTION 22; RUN THE NCE
Tax Annual Amount
18415
Legal Description
PT NE NE 1.29 AC FURTHER DESCRIBED FROM 2018-33735 AS: PART OF THE NE OF THE NE OF SECTION 22, T-16-N, R-30-W, FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NE CORNER OF SECTION 22; RUN THE NCE
Building Details
Year built
2002
Number of units
16
Listing Agency:
Arkansas Real Estate Group Fayetteville
(479) 318-0433
Listed By:
Kyle Atkins · License #EB00080416
(870) 584-8986
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 26 at 4:06PM
MLS# 1349368
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 16-unit apartment property contains 18,944 square feet on 1.29 acres and was built in 2002. Units have received improvements and remodeling during the last 5 years. Each unit includes two full bathrooms located upstairs with the bedrooms and a half bath on the main level. Both dwellings are scheduled to receive new roofs in 2026.
The property is located in Fayetteville near downtown and the University of Arkansas, with a bus stop readily accessible to residents. A full rent roll is available upon request.
The property is located in Fayetteville near downtown and the University of Arkansas, with a bus stop readily accessible to residents. A full rent roll is available upon request.
Key Highlights
- 16‑unit apartment property on 1.29 acres
- 18,944 square feet built in 2002
- Units improved and remodeled over the last 5 years
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
$150,837
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
6.03%
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%
$3,016,740
$3.0M
Cap Rate 7%
$2,154,814
$2.2M
Cap Rate 9%
$1,675,967
$1.7M
Market Conditions
NOI Build-Up for 18,944 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
$295.5K $15.60/SF
− Vacancy
−$21.3K −$1.12/SF
EGI
$274.2K $14.48/SF
− OpEx
−$123.4K −$6.51/SF
NOI
$150.8K $7.96/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$15.60 /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%
$3,016,740
Cap Rate 7%
$2,154,814
Cap Rate 9%
$1,675,967
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.89M – $2.51M
NOI $150,837 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,941 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
143
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
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?
Apartment building - Updated multifamily asset with convenient access to downtown Fayetteville, the University of Arkansas, and a nearby bus stop.
Where is this apartment building located?
The property is located at 856-898 S Curtis Avenue Fayetteville, AR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 16‑unit apartment property on 1.29 acres; 18,944 square feet built in 2002; Units improved and remodeled over the last 5 years
