Renovated Office
For Sale
$145,000
1608 Jenny Lind Road, Fort Smith, AR 72901
Updated finishes, upgraded electrical systems, and a right-side garage door support practical office use.
Property Size1,128 SF
Price / SF$128.55
Days on Market41
Property Features for 1608 Jenny Lind Road
General Information
Standard status
Active
Size
1,128 SF
Additional Details
Furnished
No
Listing Agency:
O'Neal Real Estate- Fort Smith
(479) 650-0314
Listed By:
Amanda Rainwater
(479) 650-0314
Source:
Assurancerealtyfsm
Added: Jul 23
Changed: Aug 31
Last Checked: Aug 31 at 4:57PM
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- Fort Smith
Investment Insights
Based on property information with market context.
This 1,128-square-foot office building has undergone extensive interior and exterior renovation. Improvements include new Sheetrock with knockdown texture, updated lighting, Montagna Dapple flooring in the lobby, bathroom, and closet, and refreshed bathroom fixtures and finishes. Double-pane windows improve efficiency, while a new garage door serves the right side of the building.
Exterior work includes new stucco and newer pine pecan stacked siding. Roof improvements include a refreshed front-facing section, full replacement of one rear-roof side, and partial replacement of the other. Extensive electrical work was completed to bring the building toward current code standards. The property is offered as is; office furniture, on-site signage, iron sign stands, and the window unit are excluded from the sale.
Exterior work includes new stucco and newer pine pecan stacked siding. Roof improvements include a refreshed front-facing section, full replacement of one rear-roof side, and partial replacement of the other. Extensive electrical work was completed to bring the building toward current code standards. The property is offered as is; office furniture, on-site signage, iron sign stands, and the window unit are excluded from the sale.
Key Highlights
- 1,128‑square‑foot office building
- Extensive interior renovation with new Sheetrock, updated lighting, and refreshed bathroom finishes
- Montagna Dapple flooring in the lobby, bathroom, and closet
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
$11,269
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
7.77%
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%
$225,380
$225.4K
Cap Rate 7%
$160,986
$161.0K
Cap Rate 9%
$125,211
$125.2K
Market Conditions
NOI Build-Up for 1,128 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
$16.2K $14.40/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$15.0K $13.32/SF
− OpEx
−$3.8K −$3.33/SF
NOI
$11.3K $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 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%
$225,380
Cap Rate 7%
$160,986
Cap Rate 9%
$125,211
Alternative Uses
Best Use
Office B
$161.0K
$140.9K – $187.8K
NOI $11,269 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$240.0K
$210.0K – $280.0K
NOI $16,800 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
939
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated finishes, upgraded electrical systems, and a right-side garage door support practical office use.
Where is this office building located?
The property is located at 1608 Jenny Lind Road Fort Smith, AR.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: 1,128‑square‑foot office building; Extensive interior renovation with new Sheetrock, updated lighting, and refreshed bathroom finishes; Montagna Dapple flooring in the lobby, bathroom, and closet
