Flex Space with Covered
For Sale
$114,000
2900 N O Street, Fort Smith, AR 72901
COMMERCIAL - Fort Smith, AR
Property Size1,500 SF
Lot Size0.34 Acres
Price / SF$76
Days on Market143
Property Features for 2900 N O Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Corner Lot, City Lot
Directions
Travel south on N O Street from Martin Luther King, Jr. Park in Fort Smith two blocks and the building is on the right.
Standard status
Active
APN
18112-0025-00001-00
Size
1,500 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
W PT LOT 21 & ALL OF LOTS 22-23-24-25
Tax Annual Amount
1063
Legal Description
W PT LOT 21 & ALL OF LOTS 22-23-24-25
Building Details
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
Stucco
Roof type
Metal
Listing Agency:
The Heritage Group Real Estate Co.
(479) 806-5955
Listed By:
Alyssia Beneux · License #SA00089966
(479) 414-3231
Added: Mar 31
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# 1354987
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 Fort Smith flex property combines 1,500 square feet of office space with an approximately 33-by-29-foot shop or warehouse area. The front entry opens to two offices, while the larger work area includes sliding double doors on three sides and covered loading docks. A fenced rear dock measures approximately 14.5 by 40 feet.
The building occupies 0.3424 acres at 2900 N O Street and provides parking on both sides. Construction includes stucco exterior walls and a metal roof, with concrete and tile flooring inside. The property is currently used for a water purification business and formerly housed a tire shop.
The building occupies 0.3424 acres at 2900 N O Street and provides parking on both sides. Construction includes stucco exterior walls and a metal roof, with concrete and tile flooring inside. The property is currently used for a water purification business and formerly housed a tire shop.
Key Highlights
- 1,500 square feet of office space
- Approximately 33‑by‑29‑foot shop or warehouse area
- Sliding double doors on three sides of the warehouse
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
$8,108
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
7.11%
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%
$162,160
$162.2K
Cap Rate 7%
$115,829
$115.8K
Cap Rate 9%
$90,089
$90.1K
Market Conditions
NOI Build-Up for 1,500 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
$13.5K $9.00/SF
− Vacancy
−$1.0K −$0.68/SF
EGI
$12.5K $8.32/SF
− OpEx
−$4.4K −$2.91/SF
NOI
$8.1K $5.41/SF
Area
Sebastian County, AR
Vacancy
7.60%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$162,160
Cap Rate 7%
$115,829
Cap Rate 9%
$90,089
Alternative Uses
Best Use
Office B
$214.1K
$187.3K – $249.8K
NOI $14,985 @ 7.0% cap · market cap 13.14%
Second Best
Flex RnD
$115.8K
$101.4K – $135.1K
NOI $8,108 @ 7.0% cap · market cap 7.11%
Theoretical Best
Healthcare Medical
$319.1K
$279.3K – $372.3K
NOI $22,340 @ 7.0% cap · market cap 19.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Combined office and shop areas support a range of commercial operations, with parking along both sides of the building.
Where is this flex space located?
The property is located at 2900 N O Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $114,000.
What are key features of this property?
This property features: 1,500 square feet of office space; Approximately 33‑by‑29‑foot shop or warehouse area; Sliding double doors on three sides of the warehouse
