14-Unit New Construction Duplex
For Sale
$1,820,000
5000-5224 S 33rd, Fort Smith, AR 72903
Multifamily, Fort Smith, AR
Property Size12,250 SF
Lot Size1.11 Acres
Price / SF$148.57
Days on Market193
Property Features for 5000-5224 S 33rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
14
Rooms
Bedroom 14, Bedroom 7, Bedroom 5, Bedroom 6, Bedroom 13, Bedroom 3, Bedroom 8, Bedroom 2, Bedroom 9, Bedroom 11, Bedroom 1, Bedroom 10, Bedroom 4, Bedroom 12
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Porch
Appliances
Dishwasher, Garbage Disposal, Microwave Vent, Range, Refrigerator
Subdivision
Falconer
Lot features
Level
Elementary school district
Fort Smith
Middle school district
Fort Smith
High school district
Fort Smith
Directions
Phoenix Avenue to S 33rd St. Units are on the corner of S 33rd and Waco St.
Standard status
Active
APN
12491-0014-00004-00
Size
12,250 SF
Lot size
1.11 Acres
Taxes and HOA fees
Tax Description
LOTS 8-14 BLK 4
Tax Annual Amount
1068
Legal Description
LOTS 8-14 BLK 4
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Building Details
Year built
2026
Floors in Building
1
Number of units
7
Flooring type
Concrete
Roof type
Shingle
Listing Agency:
Weichert, REALTORS(R) - The Griffin Company
(479) 242-4000
Listed By:
Jennifer Schmidt · License #SA00056031
(479) 883-2963
Added: Mar 26
Changed: Sep 26
Last Checked: Oct 4 at 5:06PM
MLS# 1087862
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.
This multifamily offering includes 7 duplexes totaling 14 residences, with 2 bedrooms and 1 full bathroom in each unit. The buildings are under construction with a projected 2026 build year and include concrete flooring, central electric heating and cooling, shingle roofs, porches, and concrete parking. Kitchen equipment includes refrigerators, ranges, microwaves, dishwashers, and garbage disposals. The property encompasses 12,250 square feet on 1.1125 acres.
The addresses span 5000-5224 S 33rd in Fort Smith, Arkansas 72903. Access to I-540 and Zero Street provides a direct connection to area transportation routes. The unit layout and included appliances create a consistent configuration across the duplex portfolio.
The addresses span 5000-5224 S 33rd in Fort Smith, Arkansas 72903. Access to I-540 and Zero Street provides a direct connection to area transportation routes. The unit layout and included appliances create a consistent configuration across the duplex portfolio.
Key Highlights
- 14 total units arranged across 7 duplexes
- Each unit offers 2 bedrooms and 1 full bathroom
- 12,250 square feet situated on 1.1125 acres
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
$81,237
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
4.46%
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%
$1,624,740
$1.6M
Cap Rate 7%
$1,160,529
$1.2M
Cap Rate 9%
$902,633
$902.6K
Market Conditions
NOI Build-Up for 12,250 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
$124.9K $10.20/SF
− Vacancy
−$8.9K −$0.73/SF
EGI
$116.1K $9.47/SF
− OpEx
−$34.8K −$2.84/SF
NOI
$81.2K $6.63/SF
Area
Sebastian County, AR
Vacancy
7.12%
Lease Rate
$10.20 /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%
$1,624,740
Cap Rate 7%
$1,160,529
Cap Rate 9%
$902,633
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.35M
NOI $81,237 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$1.04M
$906.8K – $1.21M
NOI $72,543 @ 7.0% cap · market cap 3.99%
Theoretical Best
Healthcare Medical
$2.61M
$2.28M – $3.04M
NOI $182,442 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
459
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, durable concrete flooring, central HVAC, and a complete kitchen appliance package.
Where is this duplex located?
The property is located at 5000-5224 S 33rd Fort Smith, AR.
What is the asking price?
The asking price for this property is $1,820,000.
What are key features of this property?
This property features: 14 total units arranged across 7 duplexes; Each unit offers 2 bedrooms and 1 full bathroom; 12,250 square feet situated on 1.1125 acres
