Warehouse
For Sale
$479,000
3505 Johnson Street, Fort Smith, AR 72904
Warehouse building built in 2007 with available space in Sebastian County, AR, accessed from Johnson Street
Property Size5,088 SF
Price / SF$94.14
Days on Market566
Property Features for 3505 Johnson Street
General Information
Standard status
Active
Size
5,088 SF
Additional Details
Road Access
Yes
Building Details
Building Size
5,088 SF
Year Built
2007
Listing Agency:
The Heritage Group Real Estate
Listed By:
Alyssia Beneux · License #SA00089966
(479) 414-3231
Source:
Evrealestate
Added: Mar 19, 2025
Changed: Sep 28
Last Checked: Oct 4 at 9:37AM
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 The Heritage Group Real Estate
Investment Insights
Based on property information with market context.
Warehouse building located at 3505 Johnson Street in Fort Smith, AR 72904 within Sebastian County. The property was built in 2007 and offers 5,088 square feet of warehouse space.
Access is provided from Johnson Street. From Midland Blvd, turn onto Johnson St and go three blocks; the property is on the left. From Kelley Hwy, turn onto N Albert Pike, then turn left onto Johnson Street; the property will be on the right.
The building’s configuration and size make it suitable for warehouse storage and distribution needs, where a compact footprint can support daily operations and product handling.
Access is provided from Johnson Street. From Midland Blvd, turn onto Johnson St and go three blocks; the property is on the left. From Kelley Hwy, turn onto N Albert Pike, then turn left onto Johnson Street; the property will be on the right.
The building’s configuration and size make it suitable for warehouse storage and distribution needs, where a compact footprint can support daily operations and product handling.
Key Highlights
- 5,088 SF warehouse building
- Built in 2007
- 3505 Johnson Street, Fort Smith, AR 72904
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
$23,250
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
4.85%
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%
$465,000
$465.0K
Cap Rate 7%
$332,143
$332.1K
Cap Rate 9%
$258,333
$258.3K
Market Conditions
NOI Build-Up for 5,088 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
$30.5K $6.00/SF
− Vacancy
−$3.2K −$0.62/SF
EGI
$27.4K $5.38/SF
− OpEx
−$4.1K −$0.81/SF
NOI
$23.3K $4.57/SF
Area
Sebastian County, AR
Vacancy
10.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
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%
$465,000
Cap Rate 7%
$332,143
Cap Rate 9%
$258,333
Alternative Uses
Best Use
Warehouse
$332.1K
$290.6K – $387.5K
NOI $23,250 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.08M
$947.2K – $1.26M
NOI $75,777 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72904, AR
22,402
Population
8,406
Households
2.7
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
13.7 sq mi
ZIP Area
1,635
Density / Sq Mi
$40,357
Median Household Income
$28,519
Median Earnings
$817
Median Rent
$108,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Northside Self Storage — 4200 Kelley Hwy, Fort Smith, AR 72904
- U-Store-It — 4011 Midland Blvd, Fort Smith, AR 72904
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse building built in 2007 with available space in Sebastian County, AR, accessed from Johnson Street
Where is this warehouse located?
The property is located at 3505 Johnson Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 5,088 SF warehouse building; Built in 2007; 3505 Johnson Street, Fort Smith, AR 72904
