16-Unit Apartment
For Sale
$2,500,000
856-898 S Curtis Ave, Fayetteville, AR 72701
Updated multifamily property with remodeled residences and convenient access to downtown, the University of Arkansas, and a nearby bus stop.
Property Size18,944 SF
Price / SF$131.97
Days on Market60
Property Features for 856-898 S Curtis Ave
General Information
Standard status
Active
Size
18,944 SF
Additional Details
Public Transit
Yes
Multifamily Units
16
Building Details
Year Built
2002
Buildings
2
Listing Agency:
Arkansas Real Estate Group Fayetteville
Listed By:
Kyle Atkins · License #EB00080416
(479) 304-2198
Source:
Thebesthomeprice
Added: Jul 10
Changed: Aug 28
Last Checked: Sep 7 at 11:24AM
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 Arkansas Real Estate Group Fayetteville
Investment Insights
Based on property information with market context.
The Curtis Street Townhomes comprise 16 apartment units within a 18,944-square-foot multifamily property built in 2002. Every residence has received improvements, including remodeled units completed over the last 5 years. Each layout includes two full bathrooms upstairs near the bedrooms and a half bath on the main level for guests.
Located at 856-898 S Curtis Ave in Fayetteville, the property is minutes from downtown Fayetteville and the University of Arkansas. Tenants also have convenient access to a nearby bus stop. Both dwellings have a new roof in 2026. A full rent roll is available upon request.
Located at 856-898 S Curtis Ave in Fayetteville, the property is minutes from downtown Fayetteville and the University of Arkansas. Tenants also have convenient access to a nearby bus stop. Both dwellings have a new roof in 2026. A full rent roll is available upon request.
Key Highlights
- 16 apartment units in a 18,944‑square‑foot property
- Every unit improved, with remodeled residences updated over the last 5 years
- Each unit includes two full upstairs bathrooms and one main‑level half bath
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
$150,837
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
6.03%
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%
$3,016,740
$3.0M
Cap Rate 7%
$2,154,814
$2.2M
Cap Rate 9%
$1,675,967
$1.7M
Market Conditions
NOI Build-Up for 18,944 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
$295.5K $15.60/SF
− Vacancy
−$21.3K −$1.12/SF
EGI
$274.2K $14.48/SF
− OpEx
−$123.4K −$6.51/SF
NOI
$150.8K $7.96/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$3,016,740
Cap Rate 7%
$2,154,814
Cap Rate 9%
$1,675,967
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.89M – $2.51M
NOI $150,837 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,941 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
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?
Apartment building - Updated multifamily property with remodeled residences and convenient access to downtown, the University of Arkansas, and a nearby bus stop.
Where is this apartment building located?
The property is located at 856-898 S Curtis Ave Fayetteville, AR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 16 apartment units in a 18,944‑square‑foot property; Every unit improved, with remodeled residences updated over the last 5 years; Each unit includes two full upstairs bathrooms and one main‑level half bath
