Seven Duplexes, New Construction
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 Market148
Property Features for 5000-5224 S 33rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
14
Rooms
Bedroom 12, Bedroom 5, Bedroom 9, Bedroom 13, Bedroom 1, Bedroom 14, Bedroom 10, Bedroom 11, Bedroom 7, Bedroom 3, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 2
Window features
Vinyl Frames, Double Pane Windows
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) 242-4000
Added: Mar 26
Changed: Aug 19
Last Checked: Aug 20 at 2:06PM
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 package consists of seven duplexes, totaling 14 rental units, currently under construction and identified as new construction with a 2026 year built. Each unit is designed as a two-bedroom, one full bathroom layout with concrete flooring, central heat and air, and a full appliance package including a refrigerator, range, microwave, and dishwasher. The property also includes ample concrete parking and a porch feature.
The included addresses are 5226, 5224, 5222, 5220, 5218, 5216, 5214, 5212, 5210, 5208, 5206, 5204, 5202, and 5000 S 33rd St. The location in Fort Smith, AR 72903 provides easy access to I-540 and Zero Street, supporting commuter convenience for tenant demand.
Set on 1.1125 acres with a listed property size of 12,250 square feet, the development includes electric heating and electric cooling, with a shingle roof. The unit and finish selections emphasize low-maintenance durability for long-term residential use.
The included addresses are 5226, 5224, 5222, 5220, 5218, 5216, 5214, 5212, 5210, 5208, 5206, 5204, 5202, and 5000 S 33rd St. The location in Fort Smith, AR 72903 provides easy access to I-540 and Zero Street, supporting commuter convenience for tenant demand.
Set on 1.1125 acres with a listed property size of 12,250 square feet, the development includes electric heating and electric cooling, with a shingle roof. The unit and finish selections emphasize low-maintenance durability for long-term residential use.
Key Highlights
- Seven duplexes totaling 14 units, under construction as new construction with 2026 year built
- Two‑bedroom, one full bathroom units with central heat and air plus concrete flooring
- Full appliance package in each unit including refrigerator, range, microwave, and dishwasher
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Seven duplexes in new construction with two-bedroom, one-bath units featuring central HVAC, concrete flooring, and full appliance packages.
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: Seven duplexes totaling 14 units, under construction as new construction with 2026 year built; Two‑bedroom, one full bathroom units with central heat and air plus concrete flooring; Full appliance package in each unit including refrigerator, range, microwave, and dishwasher
