Remodeled Historic Office
For Sale
$589,000
120 N 16th Street, Fort Smith, AR 72901
Historic office property combines updated systems with five offices, conference rooms, and a third-story apartment.
Property Size5,112 SF
Price / SF$115.22
Days on Market89
Property Features for 120 N 16th Street
General Information
Standard status
Active
Size
5,112 SF
Amenities
5 offices
2 conference rooms
kitchen
3rd story apartment
original woodwork
two gas fireplaces
entry with stairs
Building Details
Year Renovated
2018
Listing Agency:
O'Neal Real Estate
(479) 739-8087
Listed By:
Aaron O'Neal
(918) 774-5743
Source:
Assurancerealtyfsm
Added: Jul 20
Changed: Oct 14
Last Checked: Oct 14 at 10:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of O'Neal Real Estate
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Investment Insights
Based on property information with market context.
This 5,112-square-foot historic office property was remodeled in 2018, including electrical service, plumbing, windows, and zoned heating and air conditioning. The interior includes five private offices, two conference rooms, a kitchen, and a third-story apartment. Original woodwork, two gas fireplaces, and a formal entry with stairs retain the building’s historic character while supporting office and residential components.
Located at 120 N 16th Street in Fort Smith, Arkansas, the property is available for showings by confirmed appointment. Approved financing is required before scheduling.
Located at 120 N 16th Street in Fort Smith, Arkansas, the property is available for showings by confirmed appointment. Approved financing is required before scheduling.
Key Highlights
- 5,112 SF historic office property
- Remodeled in 2018 with new electric, updated plumbing, zoned heat and air, and new windows
- Five offices and two conference rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,069
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,380
$1.0M
Cap Rate 7%
$729,557
$729.6K
Cap Rate 9%
$567,433
$567.4K
Market Conditions
NOI Build-Up for 5,112 SF
Gross rent
$73.6K $14.40/SF
− Vacancy
−$5.5K −$1.08/SF
EGI
$68.1K $13.32/SF
− OpEx
−$17.0K −$3.33/SF
NOI
$51.1K $9.99/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,380
Cap Rate 7%
$729,557
Cap Rate 9%
$567,433
Alternative Uses
Best Use
Office B
$729.6K
$638.4K – $851.2K
NOI $51,069 @ 7.0% cap · market cap 8.67%
Second Best
Mixed Use
$617.2K
$540.0K – $720.0K
NOI $43,202 @ 7.0% cap · market cap 7.33%
Theoretical Best
Healthcare Medical
$1.09M
$951.7K – $1.27M
NOI $76,134 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,580
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Historic office property combines updated systems with five offices, conference rooms, and a third-story apartment.
Where is this office building located?
The property is located at 120 N 16th Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 5,112 SF historic office property; Remodeled in 2018 with new electric, updated plumbing, zoned heat and air, and new windows; Five offices and two conference rooms
