Mixed-Use Property with
For Sale
$1,300,000
Pending
221 S Block Avenue, Fayetteville, AR 72701
COMMERCIAL - Fayetteville, AR
Property Size4,650 SF
Lot Size0.38 Acres
Days on Market267
Property Features for 221 S Block Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Central Business District, City Lot, Neighborhood
Directions
Heading South on College Ave in Fayetteville, continue onto Nelson Hackett Blvd, Property will be on your right on the corner of Block and Nelson Hackett.
Standard status
Pending
APN
765-02088-000
Size
4,650 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Description
PT BLOCK 40 (102.5/162 FT 11 IN.)
Tax Annual Amount
1733
Legal Description
PT BLOCK 40 (102.5/162 FT 11 IN.)
Building Details
Year built
1960
Floors in Building
1
Number of units
8
Flooring type
Cork, Bamboo, Concrete, Tile
Listing Agency:
Collier & Associates
(479) 274-0662
Listed By:
Prosper Team
(479) 222-0209
Added: Nov 26, 2025
Changed: Aug 19
Last Checked: Aug 20 at 3:06AM
MLS# 1328648
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 mixed-use property includes a 4,650-square-foot commercial building divided into two separate spaces. A second building adds 2 one-bedroom apartments, 1 studio apartment, and 3 multipurpose commercial spaces. Interior finishes include cork, bamboo, concrete, and tile, while on-site parking is provided through a parking lot. The property was built in 1960.
Located at 221 S Block Avenue in Fayetteville, the property sits 2 blocks from the Fayetteville Historic Square. The arts corridor, Fayetteville Public Library, Dickson Street, University of Arkansas bus routes, restaurants, coffee shops, and art galleries are within walking distance. Downtown General zoning supports commercial retail use, and the property is also in a hotel zone.
Located at 221 S Block Avenue in Fayetteville, the property sits 2 blocks from the Fayetteville Historic Square. The arts corridor, Fayetteville Public Library, Dickson Street, University of Arkansas bus routes, restaurants, coffee shops, and art galleries are within walking distance. Downtown General zoning supports commercial retail use, and the property is also in a hotel zone.
Key Highlights
- 4,650‑square‑foot commercial building with two separate spaces
- Second building includes 2 one‑bedroom apartments and 1 studio apartment
- Three multipurpose commercial spaces in the additional building
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
$54,723
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
4.21%
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%
$1,094,460
$1.1M
Cap Rate 7%
$781,757
$781.8K
Cap Rate 9%
$608,033
$608.0K
Market Conditions
NOI Build-Up for 4,650 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
$83.7K $18.00/SF
− Vacancy
−$5.5K −$1.19/SF
EGI
$78.2K $16.81/SF
− OpEx
−$23.5K −$5.04/SF
NOI
$54.7K $11.77/SF
Area
Washington County, AR
Vacancy
6.60%
Lease Rate
$18.00 /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%
$1,094,460
Cap Rate 7%
$781,757
Cap Rate 9%
$608,033
Alternative Uses
Best Use
Retail
$781.8K
$684.0K – $912.1K
NOI $54,723 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$528.9K
$462.8K – $617.1K
NOI $37,024 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,369 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,107
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?
Mixed-use property - Two buildings combine commercial spaces with apartment units and a studio.
Where is this mixed-use property located?
The property is located at 221 S Block Avenue Fayetteville, AR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,650‑square‑foot commercial building with two separate spaces; Second building includes 2 one‑bedroom apartments and 1 studio apartment; Three multipurpose commercial spaces in the additional building
