Freestanding Flex Space
New
For Sale
$695,000
3827 Midland Boulevard, Fort Smith, AR 72904
CommercialSale, Fort Smith, AR
Property Size16,123 SF
Lot Size1.44 Acres
Price / SF$43.11
Days on Market1
Property Features for 3827 Midland Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
Located near N 43rd St
Standard status
Active
APN
18883-0000-02427-00
Size
16,123 SF
Lot size
1.44 Acres
Taxes and HOA fees
Tax Description
PT SE SE 34-9-32 & PT SW SW
Tax Annual Amount
4427
Legal Description
PT SE SE 34-9-32 & PT SW SW
Listing Agency:
Moses Tucker Partners-Bentonville Branch
(479) 271-6118
Listed By:
Eric Nelson · License #AB00074278
(501) 951-1802
Added: Sep 8
Last Checked: Sep 8 at 7:06PM
MLS# 1361448
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 freestanding flex space building contains 16,123 square feet on a 1.4429-acre site. The I-1 zoning supports light manufacturing, office functions, and limited retail or service operations. Additional acreage is available for expansion or redevelopment. The property is suited to an owner-user seeking a combination of industrial and office functionality.
Located on Midland Boulevard north of downtown Fort Smith, the site records approximately 13,000 vehicles per day and is 2 miles from I-540. Its surrounding industrial corridor includes Bachoco USA, International Paper, and Georgia-Pacific, placing the property among established industrial users with regional roadway access.
Located on Midland Boulevard north of downtown Fort Smith, the site records approximately 13,000 vehicles per day and is 2 miles from I-540. Its surrounding industrial corridor includes Bachoco USA, International Paper, and Georgia-Pacific, placing the property among established industrial users with regional roadway access.
Key Highlights
- 16,123‑square‑foot freestanding commercial building
- 1.4429‑acre site with additional acreage for expansion or redevelopment
- I‑1 zoning supports light manufacturing, office, and limited retail or service operations
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
$60,674
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
8.73%
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%
$1,213,480
$1.2M
Cap Rate 7%
$866,771
$866.8K
Cap Rate 9%
$674,156
$674.2K
Market Conditions
NOI Build-Up for 16,123 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
$96.7K $6.00/SF
− Vacancy
−$10.1K −$0.62/SF
EGI
$86.7K $5.38/SF
− OpEx
−$26.0K −$1.61/SF
NOI
$60.7K $3.76/SF
Area
Sebastian County, AR
Vacancy
10.40%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,213,480
Cap Rate 7%
$866,771
Cap Rate 9%
$674,156
Alternative Uses
Best Use
Flex RnD
$1.25M
$1.09M – $1.45M
NOI $87,151 @ 7.0% cap · market cap 12.54%
Second Best
Industrial
$866.8K
$758.4K – $1.01M
NOI $60,674 @ 7.0% cap · market cap 8.73%
Theoretical Best
Healthcare Medical
$3.43M
$3.00M – $4.00M
NOI $240,123 @ 7.0% cap · market cap 34.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
229
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
Market
Vacancy Rate% for Industrial 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 - I-1-zoned facility with office, light manufacturing, and limited retail or service use.
Where is this flex space located?
The property is located at 3827 Midland Boulevard Fort Smith, AR.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 16,123‑square‑foot freestanding commercial building; 1.4429‑acre site with additional acreage for expansion or redevelopment; I‑1 zoning supports light manufacturing, office, and limited retail or service operations
