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    Property profile & analytics

    2323 57Th St Fort Smith, AR 72903

    • Commercial real estate
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0911841
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2323 57Th St

    Year built
    1985
    Lot size
    0.69 lot acres
    Property type
    Commercial real estate
    APN
    11669-0013-00003-00 & 11669-0013-00003-01

    Description

    This exceptional value-add investment opportunity presents an 18-unit apartment complex and an 832-square-foot commercial office space, ideally situated in Fort Smith, Arkansas. The property, known as Elmwood Apartments, consists of five buildings, each two stories high, totaling 18 units. The unit mix includes ten two-bedroom, one-and-a-half-bathroom units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.369771392586
    Latitude
    35.359637552685

    Comparable in this City

    • $400,000
      2,936 SF

      Fort Smith Apartments For Sale

      Eight-unit apartment building in Fort Smith, Arkansas. Investor opportunity.
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    • $760,000
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      Updated Multifamily Property in Fort Smith

      Well-maintained 12-unit property with income-producing laundry and potential rent growth.
      2308 Savannah St, Fort Smith, AR 72903
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    • $410,000
      2,936 SF

      Fort Smith Apartments For Sale

      Eight apartments in Fort Smith, AR. Investment opportunity.
      517-519 31St St, Fort Smith, AR 72903
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    • $199,900
      1,104 SF

      Charming Duplex Near Local Schools

      Duplex with strong rental history and flexible leasing options.
      3009 Hendricks Blvd, Fort Smith, AR 72903
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    • Contact for pricing
      1.10 Acres

      Fort Smith Commercial Land Opportunity

      Prime location, build-to-suit options.
      6200 Phoenix Ave, Fort Smith, AR 72903
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    • Contact for pricing
      1.68 Acres

      Cameron Park Drive Investment Lots

      Two prime commercial lots in Fort Smith, AR
      0 Cameron Park Dr, Fort Smith, AR 72903
      View Details

    Similar Nearby for Sale

    • $400,000
      2,936 SF

      Fort Smith Apartments For Sale

      Eight-unit apartment building in Fort Smith, Arkansas. Investor opportunity.
      517-519 N 31St St, Fort Smith, AR 72903
      View Details
    • $760,000
      8,308 SF

      Updated Multifamily Property in Fort Smith

      Well-maintained 12-unit property with income-producing laundry and potential rent growth.
      2308 Savannah St, Fort Smith, AR 72903
      View Details
    • $410,000
      2,936 SF

      Fort Smith Apartments For Sale

      Eight apartments in Fort Smith, AR. Investment opportunity.
      517-519 31St St, Fort Smith, AR 72903
      View Details
    • $199,900
      1,104 SF

      Charming Duplex Near Local Schools

      Duplex with strong rental history and flexible leasing options.
      3009 Hendricks Blvd, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      1.10 Acres

      Fort Smith Commercial Land Opportunity

      Prime location, build-to-suit options.
      6200 Phoenix Ave, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      1.68 Acres

      Cameron Park Drive Investment Lots

      Two prime commercial lots in Fort Smith, AR
      0 Cameron Park Dr, Fort Smith, AR 72903
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo
      3,200 SF

      Warehouse with Office Space

      3,200 SF warehouse with office space for lease.
      5007-5009 S 35Th St, Fort Smith, AR 72903
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    • $4,200 /Mo
      6,000 SF

      Versatile Office Space in Fort Smith

      6,000 SF office space suitable for office or classroom use.
      5400 Euper Ln, Fort Smith, AR 72903
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    • $16 SF/Yr
      94,903 SF

      Arvest Tower Office Space

      Fort Smith, AR office suites available.
      5000 Rogers Ave, Fort Smith, AR 72903
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    • $1,750 /Mo
      2,275 SF

      Versatile Flex Space in Fort Smith

      Flex space in high-traffic Fort Smith shopping center.
      6802-6808 Rogers Ave, Fort Smith, AR 72903
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    • Contact for pricing
      2,400 SF

      Prime Retail/Medical Endcap Space

      Class A space with frontage on Rogers Ave.
      4620 Rogers Ave, Fort Smith, AR 72903
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    • $450 /Mo
      330 SF

      Second Floor Office Space

      Office space for rent, approximately 330 square feet.
      5008 S U St, Fort Smith, AR 72903
      View Details
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    2323 57Th St
    Fort Smith, AR 72903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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