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1900 S Z St, Fort Smith, AR 72901
Fourteen apartment units offer consistent two-bedroom layouts with private baths and in-unit laundry hookups.
Property Size11,900 SF
Lot Size0.64 Acres
Price / SF$84.03
Days on Market16
Property Features for 1900 S Z St
General Information
Standard status
Active
Size
11,900 SF
Total Parking Spaces
30
Lot size
0.64 Acres
Property subtype
Multifamily
Occupancy
95%
Net Operating Income
$34,570
Units
Unit Mix
14 x 2BR/1BA
Multifamily Units
14
Amenities
black appliances
washer/dryer hookups
central heat and air
individual water heaters
Building Details
Year Built
2007
Buildings
3
Stories
2
Units
14
Tenancy
Multi
Listing Agency:
GC Multifamily
Listed By:
Sarah Brown · License #AR SA00087975
Source:
Crexi
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 11:00AM
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 GC Multifamily
Investment Insights
Based on property information with market context.
This multifamily property comprises 14 apartments across three two-story buildings completed in 2007. The improvements contain 11,900 square feet on 0.64 acres, with every residence configured as a two-bedroom, one-bathroom unit. Individual water heaters, central heat and air, vinyl siding, black appliances, and washer/dryer hookups are included throughout the property.
Occupancy is reported at 95%. The property is located at 1900 S Z St in Fort Smith, Arkansas, approximately 6 minutes from downtown Fort Smith and 8 minutes from retail destinations that include Walmart, Dillard's, Hobby Lobby, and PetSmart.
Occupancy is reported at 95%. The property is located at 1900 S Z St in Fort Smith, Arkansas, approximately 6 minutes from downtown Fort Smith and 8 minutes from retail destinations that include Walmart, Dillard's, Hobby Lobby, and PetSmart.
Key Highlights
- 14‑unit apartment property with three 2‑story buildings
- 11,900 square feet on 0.64 acres
- All units are 2‑bedroom/1‑bathroom layouts
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
$70,470
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
7.05%
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%
$1,409,400
$1.4M
Cap Rate 7%
$1,006,714
$1.0M
Cap Rate 9%
$783,000
$783.0K
Market Conditions
NOI Build-Up for 11,900 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
$138.5K $11.64/SF
− Vacancy
−$10.4K −$0.87/SF
EGI
$128.1K $10.77/SF
− OpEx
−$57.7K −$4.85/SF
NOI
$70.5K $5.92/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,409,400
Cap Rate 7%
$1,006,714
Cap Rate 9%
$783,000
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$880.9K – $1.17M
NOI $70,470 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.53M
$2.22M – $2.95M
NOI $177,229 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
314
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen apartment units offer consistent two-bedroom layouts with private baths and in-unit laundry hookups.
Where is this apartment building located?
The property is located at 1900 S Z St Fort Smith, AR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 14‑unit apartment property with three 2‑story buildings; 11,900 square feet on 0.64 acres; All units are 2‑bedroom/1‑bathroom layouts
