16-Unit Apartment
For Sale
$2,500,000
856-898 S Curtis Avenue, Fayetteville, AR 72701
COMMERCIAL - Fayetteville, AR
Property Size18,944 SF
Lot Size1.29 Acres
Price / SF$131.97
Days on Market82
Property Features for 856-898 S Curtis Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Directions: I- 49 - Exit 62 (MLK) - Head East - South On Curtis - Townhouses On Left
Standard status
Active
APN
765-15068-000
Size
18,944 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Description
PT NE NE 1.29 AC FURTHER DESCRIBED FROM 2018-33735 AS: PART OF THE NE OF THE NE OF SECTION 22, T-16-N, R-30-W, FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NE CORNER OF SECTION 22; RUN THE NCE
Tax Annual Amount
18415
Legal Description
PT NE NE 1.29 AC FURTHER DESCRIBED FROM 2018-33735 AS: PART OF THE NE OF THE NE OF SECTION 22, T-16-N, R-30-W, FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NE CORNER OF SECTION 22; RUN THE NCE
Building Details
Year built
2002
Number of units
16
Listing Agency:
Arkansas Real Estate Group Fayetteville
(479) 318-0433
Listed By:
Kyle Atkins · License #EB00080416
(870) 584-8986
Added: Jun 1
Changed: Aug 19
Last Checked: Aug 21 at 7:06PM
MLS# 1349368
Copyright © 2026 ArkansasONE MLS. 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.
Curtis Street Townhomes comprises two residential buildings totaling 16 units on 1.29 acres. The 18,944-square-foot property was built in 2002, with improvements and remodeled residences completed across the last 5 years. Each home includes two full bathrooms upstairs and a half bath on the main level. Both buildings are scheduled for new roofs in 2026.
The property is located in Fayetteville near downtown and the University of Arkansas, with a nearby bus stop accessible to residents. A full rent roll is available upon request.
The property is located in Fayetteville near downtown and the University of Arkansas, with a nearby bus stop accessible to residents. A full rent roll is available upon request.
Key Highlights
- 16 units across two residential buildings
- 1.29‑acre site with 18,944 square feet of property size
- Each unit has 2 full bathrooms upstairs and 1 half bath downstairs
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
Property Profile
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, convenient transit access, and proximity to downtown Fayetteville and the University of Arkansas.
Where is this apartment building located?
The property is located at 856-898 S Curtis Avenue 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 units across two residential buildings; 1.29‑acre site with 18,944 square feet of property size; Each unit has 2 full bathrooms upstairs and 1 half bath downstairs
