Brick Warehouse with
New
For Sale
$650,000
700 N 31st ST, Fort Smith, AR 72901
Commercial, Fort Smith, AR
Property Size14,470 SF
Lot Size0.44 Acres
Price / SF$44.92
Days on Market3
Property Features for 700 N 31st ST
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From I540, take exit 6 Grand Avenue and head West. In approximately 1.5 miles, turn left onto N. 31st St. Property will be on the left at the corner of N. 31st and Hardie.
Standard status
Active
APN
15344-0009-00000-00
Size
14,470 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
LOTS 8 & 9 & A, Mores Subsdivision
Tax Annual Amount
2169
Legal Description
LOTS 8 & 9 & A, Mores Subsdivision
Utilities
Heating system
Natural Gas
Cooling system
Ductless
Amenities
breakroom
kitchen
washer/dryer
security camera system
fire alarm system
Building Details
Year built
1980
Flooring type
Tile - Ceramic, Concrete
Roof type
Other
Listing Agency:
Weichert, REALTORS(R) - The Griffin Company
Listed By:
Angel Clifton
(479) 242-4000
Added: Oct 15
Changed: Oct 17
Last Checked: Oct 17 at 2:06PM
MLS# 1092471
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.
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Investment Insights
Based on property information with market context.
The 14,470-square-foot brick warehouse sits on 0.4403 acres and includes an attached operational mix of work and living spaces. Its open floor has 19-foot ceilings, three-phase electric, five motorized doors, shelving, and five mini-split systems, with additional gas heat. A dedicated production enclosure has 6-inch spray-foam insulation, individual 20-amp circuits at receptacles, and a separate 2-ton mini-split. Two storage rooms, a breakroom with a full kitchen and laundry setup, and a warehouse bathroom add further utility. The roof is TPO, and the windows have shatterproof plexiglass.
A distinct, renovated apartment has its own exterior entrance, two bedrooms, one full bathroom, a living room, and a flex room. Individual mini-splits serve each room. The property also has a fenced outdoor area, security cameras covering interior and exterior spaces, exterior security lighting, and an interconnected fire alarm system.
A distinct, renovated apartment has its own exterior entrance, two bedrooms, one full bathroom, a living room, and a flex room. Individual mini-splits serve each room. The property also has a fenced outdoor area, security cameras covering interior and exterior spaces, exterior security lighting, and an interconnected fire alarm system.
Key Highlights
- 14,470‑square‑foot brick warehouse on 0.4403 acres
- 19‑foot ceilings, three‑phase electric, and five motorized doors
- Production enclosure with 6‑inch spray‑foam insulation, 20‑amp receptacle circuits, and a 2‑ton mini‑split
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,454
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,089,080
$1.1M
Cap Rate 7%
$777,914
$777.9K
Cap Rate 9%
$605,044
$605.0K
Market Conditions
NOI Build-Up for 14,470 SF
Gross rent
$86.8K $6.00/SF
− Vacancy
−$9.0K −$0.62/SF
EGI
$77.8K $5.38/SF
− OpEx
−$23.3K −$1.61/SF
NOI
$54.5K $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 Rate 5%
$1,089,080
Cap Rate 7%
$777,914
Cap Rate 9%
$605,044
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.41M
NOI $144,555 @ 7.0% cap · market cap 22.24%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,286 @ 7.0% cap · market cap 18.81%
Theoretical Best
Healthcare Medical
$3.08M
$2.69M – $3.59M
NOI $215,505 @ 7.0% cap · market cap 33.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
567
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Reese Properties & Storage — 1220 N 32nd St, Fort Smith, AR 72904
Frequently Asked Questions
What type of property is this?
Warehouse - A separate two-bedroom residence and flexible production areas complement the main industrial workspace.
Where is this warehouse located?
The property is located at 700 N 31st ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 14,470‑square‑foot brick warehouse on 0.4403 acres; 19‑foot ceilings, three‑phase electric, and five motorized doors; Production enclosure with 6‑inch spray‑foam insulation, 20‑amp receptacle circuits, and a 2‑ton mini‑split
