Corner-Lot Flex
For Sale
$124,000
5420 S 28th Street, Fort Smith, AR 72901
Office and warehouse functions combined in a Fort Smith commercial property.
Property Size800 SF
Lot Size0.32 Acres
Price / SF$155
Days on Market16
Property Features for 5420 S 28th Street
General Information
Standard status
Active
Size
800 SF
Lot size
0.32 Acres
Listing Agency:
McGraw REALTORS
(479) 222-4406
Listed By:
Allison Gibson
(479) 222-4406
Source:
Assurancerealtyfsm
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 5:18PM
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 McGraw REALTORS
Investment Insights
Based on property information with market context.
This flex space includes 800 square feet arranged for office and warehouse use. The property sits on a 0.32-acre corner lot at 5420 S 28th Street in Fort Smith, Arkansas. The offering combines the building and land in a compact commercial property suited to its flex-space classification.
Key Highlights
- 800sf office/warehouse space
- 0.32‑acre corner lot
- 5420 S 28th Street, Fort Smith, AR 72901
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
$4,324
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
3.49%
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%
$86,480
$86.5K
Cap Rate 7%
$61,771
$61.8K
Cap Rate 9%
$48,044
$48.0K
Market Conditions
NOI Build-Up for 800 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
$7.2K $9.00/SF
− Vacancy
−$547 −$0.68/SF
EGI
$6.7K $8.32/SF
− OpEx
−$2.3K −$2.91/SF
NOI
$4.3K $5.41/SF
Area
Sebastian County, AR
Vacancy
7.60%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$86,480
Cap Rate 7%
$61,771
Cap Rate 9%
$48,044
Alternative Uses
Best Use
Flex RnD
$61.8K
$54.1K – $72.1K
NOI $4,324 @ 7.0% cap · market cap 3.49%
Second Best
Industrial
$43.0K
$37.6K – $50.2K
NOI $3,011 @ 7.0% cap · market cap 2.43%
Theoretical Best
Healthcare Medical
$170.2K
$148.9K – $198.6K
NOI $11,915 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
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 - Office and warehouse functions combined in a Fort Smith commercial property.
Where is this flex space located?
The property is located at 5420 S 28th Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $124,000.
What are key features of this property?
This property features: 800sf office/warehouse space; 0.32‑acre corner lot; 5420 S 28th Street, Fort Smith, AR 72901
