Three-Unit Triplex with Off-Street
For Sale
$650,000
216 E Spring Street, Fayetteville, AR 72701
MULTI_FAMILY - Fayetteville, AR
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$211.59
Days on Market98
Property Features for 216 E Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Multi Family
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 3, Basement, Bedroom 2
Parking features
Assigned
Exterior features
ConcreteDriveway
Appliances
Dryer, ElectricWaterHeater, Refrigerator, Washer
Subdivision
Valley View Sub
Lot features
Central Business District, City Lot, Near Park
Elementary school district
Fayetteville
Middle school district
Fayetteville
High school district
Fayetteville
Directions
From North College, Turn East on E Spring Street. 216 E Spring will be down the hill on your left.
Standard status
Active
APN
765-11663-000
Size
3,072 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 8 BLOCK 2
Tax Annual Amount
4568
Legal Description
LOT 8 BLOCK 2
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
1941
Floors in Building
3
Number of units
3
Flooring type
Wood, Concrete, Carpet
Building materials
WoodSiding
Roof type
Asphalt, Shingle
Listing Agency:
Navigate Real Estate
(479) 841-3639
Listed By:
Jackson Williams · License #PB00059990
(479) 841-3639
Added: May 6
Changed: Aug 4
Last Checked: Aug 11 at 8:06PM
MLS# 1342931
Copyright © 2026 ArkansasONE MLS. 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 three-unit apartment home is fully leased and tenant occupied. The property features three unique units with large rooms, plus a basement, and offers off-street parking with assigned parking spaces. Concrete driveway and wood siding are included among the exterior and construction features.
The triplex is located at 216 E Spring Street in Fayetteville, Arkansas, approximately one block south of N College and about three blocks from both Dickson Street and the Fayetteville Square. Unit access for showings is limited—do not disturb tenants, and all units will be made available for viewing once a pre-approved contract is in place.
Built in 1941, the property contains 3,072 square feet on a 0.1113-acre lot. Heating is central electric, with central air and electric cooling. Interior finishes include wood, carpet, and concrete flooring, and unit amenities listed include washers and dryers, refrigerators, and electric water heaters. The roof is shingle/asphalt.
The triplex is located at 216 E Spring Street in Fayetteville, Arkansas, approximately one block south of N College and about three blocks from both Dickson Street and the Fayetteville Square. Unit access for showings is limited—do not disturb tenants, and all units will be made available for viewing once a pre-approved contract is in place.
Built in 1941, the property contains 3,072 square feet on a 0.1113-acre lot. Heating is central electric, with central air and electric cooling. Interior finishes include wood, carpet, and concrete flooring, and unit amenities listed include washers and dryers, refrigerators, and electric water heaters. The roof is shingle/asphalt.
Key Highlights
- Fully leased three‑unit triplex with tenant‑occupied units
- Approx one block south of N College and about three blocks from Dickson Street and Fayetteville Square
- 0.1113‑acre lot with 3,072 square feet
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
$27,646
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
4.25%
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%
$552,920
$552.9K
Cap Rate 7%
$394,943
$394.9K
Cap Rate 9%
$307,178
$307.2K
Market Conditions
NOI Build-Up for 3,072 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
$42.4K $13.80/SF
− Vacancy
−$2.9K −$0.94/SF
EGI
$39.5K $12.86/SF
− OpEx
−$11.8K −$3.86/SF
NOI
$27.6K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$552,920
Cap Rate 7%
$394,943
Cap Rate 9%
$307,178
Alternative Uses
Best Use
Multifamily LT 5
$394.9K
$345.6K – $460.8K
NOI $27,646 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$349.4K
$305.8K – $407.7K
NOI $24,460 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$824.6K
$721.5K – $962.0K
NOI $57,720 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
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?
Triplex - Fully leased, tenant-occupied three-unit triplex with assigned off-street parking and walkability to downtown Fayetteville
Where is this triplex located?
The property is located at 216 E Spring Street Fayetteville, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fully leased three‑unit triplex with tenant‑occupied units; Approx one block south of N College and about three blocks from Dickson Street and Fayetteville Square; 0.1113‑acre lot with 3,072 square feet
