Mixed-Use Office and Retail
New
For Sale
$299,500
321 N Greenwood AVE, Fort Smith, AR 72901
Commercial, Fort Smith, AR
Property Size2,800 SF
Lot Size0.16 Acres
Price / SF$106.96
Days on Market2
Property Features for 321 N Greenwood AVE
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Parking
10
Directions
From Rogers Ave, Turn south on N. Greenwood Ave, aprox 6 blocks, 321 N. Greenwood is on the West side, at intersection of Greenwood and Park Avenue
Standard status
Active
APN
10036-0004-00001-00
Size
2,800 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 4 BLK 1
Tax Annual Amount
3062
Legal Description
LOT 4 BLK 1
Utilities
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Building Details
Flooring type
Tile - Ceramic, Carpet, Concrete
Roof type
Built-Up
Listing Agency:
Sagely & Edwards Realtors
(479) 782-8911
Listed By:
Jeff Beauchamp · License #SA00088441
(479) 719-5037
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 8:06PM
MLS# 1092229
Copyright © 2026 Western River Valley Board of REALTORS®. 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.
At 321 N Greenwood Ave, this 2,800-square-foot mixed-use property combines office and retail use on a 7,000-square-foot lot. The interior includes seven offices, a conference room, reception and open-office space, and two restrooms. Central heating and cooling are provided by two HVAC units, and electronic locks secure all three entrance doors. The building is zoned C-2 and has ceramic tile, concrete and carpet flooring.
The property faces Greenwood Ave, just north of Park Ave, with access and parking at the front and rear alley. Ten parking spaces are available in total. ARDOT figures indicate approximately 10,000 average daily traffic. The surrounding area includes commercial, residential and multifamily uses; Northside High School is within walking distance, and Rogers Ave and Grand Ave are six blocks away.
The property faces Greenwood Ave, just north of Park Ave, with access and parking at the front and rear alley. Ten parking spaces are available in total. ARDOT figures indicate approximately 10,000 average daily traffic. The surrounding area includes commercial, residential and multifamily uses; Northside High School is within walking distance, and Rogers Ave and Grand Ave are six blocks away.
Key Highlights
- 2,800‑square‑foot building on a 7,000‑square‑foot lot
- C‑2 zoning; currently used for office and advertising retail
- Seven offices, conference room, reception/open office area and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,663
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,260
$473.3K
Cap Rate 7%
$338,043
$338.0K
Cap Rate 9%
$262,922
$262.9K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$40.3K $14.40/SF
− Vacancy
−$2.5K −$0.88/SF
EGI
$37.9K $13.52/SF
− OpEx
−$14.2K −$5.07/SF
NOI
$23.7K $8.45/SF
Area
Sebastian County, AR
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,260
Cap Rate 7%
$338,043
Cap Rate 9%
$262,922
Alternative Uses
Best Use
Office B
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 9.34%
Second Best
Mixed Use
$338.0K
$295.8K – $394.4K
NOI $23,663 @ 7.0% cap · market cap 7.90%
Theoretical Best
Healthcare Medical
$595.7K
$521.3K – $695.0K
NOI $41,701 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Office units
10,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
856
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A seven-office layout, conference room, reception area and two restrooms serve a range of commercial functions under C-2 zoning.
Where is this mixed-use property located?
The property is located at 321 N Greenwood AVE Fort Smith, AR.
What is the asking price?
The asking price for this property is $299,500.
What are key features of this property?
This property features: 2,800‑square‑foot building on a 7,000‑square‑foot lot; C‑2 zoning; currently used for office and advertising retail; Seven offices, conference room, reception/open office area and two restrooms
