Renovated Medical Office
For Sale
Contact for pricing
1501 South Waldron Road, Fort Smith, AR 72903
Renovated multi-tenant medical and professional office building with room to expand.
Property Size30,140 SF
Price / SF$142.67
Days on Market150
Property Features for 1501 South Waldron Road
General Information
Standard status
Active
Size
30,140 SF
Class
B
Total Parking Spaces
144
Property subtype
Office
Zoning
C-5
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1980
Year Renovated
2012
Buildings
1
Stories
2
Units
9
Tenancy
Multi
Listing Agency:
Ghan & Cooper Commercial Properties
Listed By:
Stuart Ghan, CCIM · License #AR PB00068079
Source:
Crexi
Added: May 27
Changed: Oct 9
Last Checked: Oct 20 at 7:21PM
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 Ghan & Cooper Commercial Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-tenant medical and professional office building has been renovated in phases since 2012. The property offers an office-focused configuration designed to support multiple tenants within a single building, with the noted ability to expand from ground level.
The building is located along Waldron Rd, directly across from Central Mall Fort Smith. Its position on a major road provides straightforward access for patients, employees, and visitors.
For buyers seeking an office asset with a medical-friendly orientation, the current multi-tenant setup supports a range of professional users. With the building already renovated since 2012 and expansion potential indicated from the ground level, the property offers a practical platform for an operator or owner who wants to manage a variety of office uses under one roof.
The building is located along Waldron Rd, directly across from Central Mall Fort Smith. Its position on a major road provides straightforward access for patients, employees, and visitors.
For buyers seeking an office asset with a medical-friendly orientation, the current multi-tenant setup supports a range of professional users. With the building already renovated since 2012 and expansion potential indicated from the ground level, the property offers a practical platform for an operator or owner who wants to manage a variety of office uses under one roof.
Key Highlights
- Multi‑tenant medical and professional office building built in 1980
- Entire building renovated since 2012
- Located along Waldron Rd, across from Central Mall Fort Smith
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,099
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,021,980
$6.0M
Cap Rate 7%
$4,301,414
$4.3M
Cap Rate 9%
$3,345,544
$3.3M
Market Conditions
NOI Build-Up for 30,140 SF
Gross rent
$434.0K $14.40/SF
− Vacancy
−$32.6K −$1.08/SF
EGI
$401.5K $13.32/SF
− OpEx
−$100.4K −$3.33/SF
NOI
$301.1K $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%
$6,021,980
Cap Rate 7%
$4,301,414
Cap Rate 9%
$3,345,544
Alternative Uses
Best Use
Healthcare Medical
$6.41M
$5.61M – $7.48M
NOI $448,881 @ 7.0% cap · market cap 10.44%
Second Best
Office B
$4.30M
$3.76M – $5.02M
NOI $301,099 @ 7.0% cap · market cap 7.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
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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 Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Renovated multi-tenant medical and professional office building with room to expand.
Where is this office building located?
The property is located at 1501 South Waldron Road Fort Smith, AR.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Multi‑tenant medical and professional office building built in 1980; Entire building renovated since 2012; Located along Waldron Rd, across from Central Mall Fort Smith
