Office Building with Shop
For Sale
Contact for pricing
3203 Waco St, Fort Smith, AR 72903
Mixed-use property featuring office space and a shop.
Property Size2,328 SF
Price / SF$169.67
Days on Market1253
Property Features for 3203 Waco St
General Information
Standard status
Active
Size
2,328 SF
Class
A
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Building Details
Tenancy
Single
Listing Agency:
Ghan & Cooper Commercial Properties
Listed By:
Chad Adair · License #AR AB00084468
(479) 478-6161
Source:
Crexi
Added: Apr 3, 2023
Changed: Aug 13
Last Checked: Sep 4 at 10:06PM
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 Ghan & Cooper Commercial Properties
Investment Insights
Based on property information with market context.
This mixed-use property features an office building with 2,328 square feet of space. The office area includes 4 private offices, 2 closets, a half bath, a conference room with a full bath, an open reception area, and a kitchen. An alarm system is installed. Additionally, the property includes a 975 square foot shop located within a fenced area, offering potential for various commercial or industrial applications.
Key Highlights
- Includes a 975 square foot shop in a fenced in area.
- Contains 4 private offices.
- Features a conference room with a full bath.
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
$23,257
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
5.89%
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%
$465,140
$465.1K
Cap Rate 7%
$332,243
$332.2K
Cap Rate 9%
$258,411
$258.4K
Market Conditions
NOI Build-Up for 2,328 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
$33.5K $14.40/SF
− Vacancy
−$2.5K −$1.08/SF
EGI
$31.0K $13.32/SF
− OpEx
−$7.8K −$3.33/SF
NOI
$23.3K $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%
$465,140
Cap Rate 7%
$332,243
Cap Rate 9%
$258,411
Alternative Uses
Best Use
Office B
$332.2K
$290.7K – $387.6K
NOI $23,257 @ 7.0% cap · market cap 5.89%
Second Best
Mixed Use
$281.1K
$245.9K – $327.9K
NOI $19,674 @ 7.0% cap · market cap 4.98%
Theoretical Best
Healthcare Medical
$495.3K
$433.4K – $577.9K
NOI $34,671 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
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?
Mixed-use property - Mixed-use property featuring office space and a shop.
Where is this mixed-use property located?
The property is located at 3203 Waco St Fort Smith, AR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Includes a 975 square foot shop in a fenced in area.; Contains 4 private offices.; Features a conference room with a full bath.
