Professional Office Building with
New
For Sale
$575,000
3224 Old Greenwood Road, Fort Smith, AR 72903
Configured for client-facing operations with executive offices, conference rooms, natural light, and supplemental storage capacity.
Property Size3,180 SF
Price / SF$180.82
Days on Market3
Property Features for 3224 Old Greenwood Road
General Information
Standard status
Active
Size
3,180 SF
Listing Agency:
Limbird Real Estate Group
(855) 755-7653
Listed By:
Charli Lawson
(479) 330-2210
Source:
Assurancerealtyfsm
Added: Sep 13
Last Checked: Sep 14 at 12:09PM
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 Limbird Real Estate Group
Investment Insights
Based on property information with market context.
This office building at 3224 Old Greenwood Road provides a professional setting for administrative and client-facing operations. The main level contains 2,435 square feet with multiple executive offices, conference rooms, abundant natural light, and quality interior finishes. A 745-square-foot basement expands the usable area and can support storage or additional operational functions.
The property totals 3,180 square feet across the main level and basement. Its combination of private offices, meeting space, finished interiors, and lower-level utility creates a practical configuration for an office user seeking both presentation space and supporting storage.
The property totals 3,180 square feet across the main level and basement. Its combination of private offices, meeting space, finished interiors, and lower-level utility creates a practical configuration for an office user seeking both presentation space and supporting storage.
Key Highlights
- 3,180 SF total, including 2,435 SF on the main level and 745 SF in the basement
- Multiple executive offices and conference rooms
- Basement area provides supplemental storage or operational space
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
$31,768
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
5.52%
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%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 3,180 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
$45.8K $14.40/SF
− Vacancy
−$3.4K −$1.08/SF
EGI
$42.4K $13.32/SF
− OpEx
−$10.6K −$3.33/SF
NOI
$31.8K $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%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
Alternative Uses
Best Use
Office B
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$676.6K
$592.0K – $789.3K
NOI $47,360 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
260
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
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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?
Office building - Configured for client-facing operations with executive offices, conference rooms, natural light, and supplemental storage capacity.
Where is this office building located?
The property is located at 3224 Old Greenwood Road Fort Smith, AR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,180 SF total, including 2,435 SF on the main level and 745 SF in the basement; Multiple executive offices and conference rooms; Basement area provides supplemental storage or operational space
