Flex Building with Overhead
For Sale
$299,000
1315 S 11th ST, Fort Smith, AR 72901
Commercial, Fort Smith, AR
Property Size3,500 SF
Lot Size0.50 Acres
Price / SF$85.43
Days on Market427
Property Features for 1315 S 11th ST
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Towson turn west on S M St. Property will be on the right.
Standard status
Active
APN
17954-0010-00002-00
Size
3,500 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
LOTS 7-10 BLK 2
Tax Annual Amount
2706
Legal Description
LOTS 7-10 BLK 2
Amenities
multiple bathrooms with showers
loft area for storage
overhead doors
Building Details
Year built
1972
Listing Agency:
O'Neal Real Estate
(479) 739-8087
Listed By:
Aaron O'Neal · License #155637
(918) 774-5743
Added: Jun 20, 2025
Changed: Aug 19
Last Checked: Aug 20 at 7:06AM
MLS# 1081825
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 3,500-square-foot flex building offers a multi-use configuration with several office spaces, multiple bathrooms equipped with showers, and a loft that provides additional storage area. Overhead doors support loading and unloading operations, adding functional utility for a range of commercial users.
Built in 1972, the property occupies 0.5009 acres at 1315 S 11th ST in Fort Smith, Arkansas. The combination of office accommodation, storage, restroom facilities, and overhead-door access creates a practical layout for businesses needing both workspace and operational support.
Built in 1972, the property occupies 0.5009 acres at 1315 S 11th ST in Fort Smith, Arkansas. The combination of office accommodation, storage, restroom facilities, and overhead-door access creates a practical layout for businesses needing both workspace and operational support.
Key Highlights
- 3,500‑square‑foot multi‑use flex building
- Several office spaces within the building
- Multiple bathrooms with showers
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
$18,919
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
6.33%
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%
$378,380
$378.4K
Cap Rate 7%
$270,271
$270.3K
Cap Rate 9%
$210,211
$210.2K
Market Conditions
NOI Build-Up for 3,500 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
$31.5K $9.00/SF
− Vacancy
−$2.4K −$0.68/SF
EGI
$29.1K $8.32/SF
− OpEx
−$10.2K −$2.91/SF
NOI
$18.9K $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%
$378,380
Cap Rate 7%
$270,271
Cap Rate 9%
$210,211
Alternative Uses
Best Use
Office B
$499.5K
$437.1K – $582.8K
NOI $34,965 @ 7.0% cap · market cap 11.69%
Second Best
Flex RnD
$270.3K
$236.5K – $315.3K
NOI $18,919 @ 7.0% cap · market cap 6.33%
Theoretical Best
Healthcare Medical
$744.7K
$651.6K – $868.8K
NOI $52,126 @ 7.0% cap · market cap 17.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-use space combines offices, shower-equipped bathrooms, storage, and loading access.
Where is this flex space located?
The property is located at 1315 S 11th ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 3,500‑square‑foot multi‑use flex building; Several office spaces within the building; Multiple bathrooms with showers
