Flex Space with Bay
For Sale
$400,000
1107 S P Street, Fort Smith, AR 72901
CommercialSale, Fort Smith, AR
Property Size6,300 SF
Lot Size0.32 Acres
Price / SF$63.49
Days on Market95
Property Features for 1107 S P Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
City Lot, Interior Lot, Industrial Park
Directions
From 540 take Kelly Hwy West 1.9 miles Left onto 10th st/ Midland Blvd. 1.8 miles turn left onto Garrison Ave 250 ft turn right onto Towson AVe 1.2 miles turn right onto S P St. 300ft on the corner.
Standard status
Active
APN
17604-0006-00002-00
Size
6,300 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
LOTS 5 & 6 BLK 2
Tax Annual Amount
1871
Legal Description
LOTS 5 & 6 BLK 2
Building Details
Year built
1988
Floors in Building
2
Flooring type
Concrete
Listing Agency:
Keller Williams Market Pro Realty Branch Office · Keller Williams Realty
(479) 657-6797
Listed By:
Harris Group
(479) 295-0290
Added: May 18
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# 1348041
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 6,300-square-foot flex property occupies a 0.3161-acre city lot at 1107 S P Street in Fort Smith. Built in 1988, the building has a concrete floor, expansive work areas, high ceilings, and several bay access points. Its layout previously supported tire-shop and body-shop operations, with room for equipment, inventory, and vehicle-related work.
The property is situated in an established commercial area within Fort Smith, providing a location for automotive, industrial, storage, commercial, distribution, or light-manufacturing uses described in the property information. The combination of open interior space and vehicle-oriented access supports a range of operational configurations.
The property is situated in an established commercial area within Fort Smith, providing a location for automotive, industrial, storage, commercial, distribution, or light-manufacturing uses described in the property information. The combination of open interior space and vehicle-oriented access supports a range of operational configurations.
Key Highlights
- 6,300‑square‑foot flex property on a 0.3161‑acre city lot
- Multiple bay access points with high ceilings and large open work areas
- Concrete flooring throughout the building
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
$34,054
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
8.51%
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%
$681,080
$681.1K
Cap Rate 7%
$486,486
$486.5K
Cap Rate 9%
$378,378
$378.4K
Market Conditions
NOI Build-Up for 6,300 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
$56.7K $9.00/SF
− Vacancy
−$4.3K −$0.68/SF
EGI
$52.4K $8.32/SF
− OpEx
−$18.3K −$2.91/SF
NOI
$34.1K $5.41/SF
Area
Sebastian County, AR
Vacancy
7.60%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$681,080
Cap Rate 7%
$486,486
Cap Rate 9%
$378,378
Alternative Uses
Best Use
Retail
$706.1K
$617.8K – $823.8K
NOI $49,427 @ 7.0% cap · market cap 12.36%
Second Best
Flex RnD
$486.5K
$425.7K – $567.6K
NOI $34,054 @ 7.0% cap · market cap 8.51%
Theoretical Best
Healthcare Medical
$1.34M
$1.17M – $1.56M
NOI $93,827 @ 7.0% cap · market cap 23.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
761
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Concrete-floor commercial building with open work areas, high ceilings, and a flexible configuration for business operations.
Where is this flex space located?
The property is located at 1107 S P Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 6,300‑square‑foot flex property on a 0.3161‑acre city lot; Multiple bay access points with high ceilings and large open work areas; Concrete flooring throughout the building
