30-Unit Apartment
New
For Sale
$2,590,000
0000 Old Harbor Rd S 57th Kinkead RD, Fort Smith, AR 72903
Multifamily, Fort Smith, AR
Property Size36,560 SF
Lot Size2.35 Acres
Price / SF$70.84
Days on Market6
Property Features for 0000 Old Harbor Rd S 57th Kinkead RD
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
66
Rooms
Bedroom 38, Bedroom 13, Bedroom 52, Bedroom 34, Bedroom 53, Bedroom 8, Bedroom 30, Bedroom 47, Bedroom 35, Bedroom 10, Bedroom 23, Bedroom 49, Bedroom 45, Bedroom 26, Bedroom 57, Bedroom 16, Bedroom 31, Bedroom 58, Bedroom 66, Bedroom 15, Bedroom 50, Bedroom 19, Bedroom 33, Bedroom 18, Bedroom 17, Bedroom 61, Bedroom 63, Bedroom 24, Bedroom 62, Bedroom 2, Bedroom 41, Bedroom 39, Bedroom 3, Bedroom 5, Bedroom 28, Bedroom 27, Bedroom 43, Bedroom 46, Bedroom 54, Bedroom 36, Bedroom 12, Bedroom 40, Bedroom 65, Bedroom 64, Bedroom 42, Bedroom 9, Bedroom 51, Bedroom 55, Bedroom 14, Bedroom 56, Bedroom 6, Bedroom 25, Bedroom 32, Bedroom 59, Bedroom 48, Bedroom 7, Bedroom 21, Bedroom 1, Bedroom 44, Bedroom 4, Bedroom 11, Bedroom 60, Bedroom 22, Bedroom 37, Bedroom 29, Bedroom 20
Subdivision
Cleburne Twnhoms, Country Club,
Lot features
In Subdivision
Directions
please contact us if you need directions; three different locations
Standard status
Active
APN
11341-0000-00000-00
Size
36,560 SF
Lot size
2.35 Acres
Taxes and HOA fees
Tax Description
Cleburne Twnhoms, Seb county
Tax Annual Amount
17000
Legal Description
Cleburne Twnhoms, Seb county
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
washer/dryer hookups
Building Details
Floors in Building
2
Number of units
30
Flooring type
Laminate, Tile - Ceramic, Carpet
Roof type
Shingle
Listing Agency:
Linsey & Co. Realtors
(479) 431-4168
Listed By:
Linsey Yates · License #PB00055637
(479) 883-9370
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 16 at 1:06AM
MLS# 1091710
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 portfolio comprises three apartment buildings totaling 30 units and 36,560 square feet on 2.35 acres. The 10908 Old Harbor Rd property contains 16 units: eight three-bedroom, 2.5-bath homes and eight two-bedroom, 2.5-bath homes. At 3700 Kinkead, the mix includes six two-bedroom, two-bath units and two one-bedroom, one-bath units. The 2523 S 57th Street building adds six two-bedroom, one-bath units.
All units are currently rented and include washer/dryer hookups. Interior finishes include laminate, carpet, and ceramic tile flooring, with central heating and central air cooling. The buildings have shingle roofs, providing a consistent physical profile across the portfolio.
All units are currently rented and include washer/dryer hookups. Interior finishes include laminate, carpet, and ceramic tile flooring, with central heating and central air cooling. The buildings have shingle roofs, providing a consistent physical profile across the portfolio.
Key Highlights
- 30 units across three apartment buildings
- 36,560 square feet on 2.35 acres
- All units are currently rented
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
$216,503
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
8.36%
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%
$4,330,060
$4.3M
Cap Rate 7%
$3,092,900
$3.1M
Cap Rate 9%
$2,405,589
$2.4M
Market Conditions
NOI Build-Up for 36,560 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
$425.6K $11.64/SF
− Vacancy
−$31.9K −$0.87/SF
EGI
$393.6K $10.77/SF
− OpEx
−$177.1K −$4.85/SF
NOI
$216.5K $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%
$4,330,060
Cap Rate 7%
$3,092,900
Cap Rate 9%
$2,405,589
Alternative Uses
Best Use
Apartment 5plus
$3.09M
$2.71M – $3.61M
NOI $216,503 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$7.78M
$6.81M – $9.07M
NOI $544,495 @ 7.0% cap · market cap 21.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
30
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
25
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
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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 - Three apartment buildings provide a fully rented multifamily portfolio with varied unit layouts and washer/dryer hookups.
Where is this apartment building located?
The property is located at 0000 Old Harbor Rd S 57th Kinkead RD Fort Smith, AR.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: 30 units across three apartment buildings; 36,560 square feet on 2.35 acres; All units are currently rented
