New Commercial Building in Fort
For Sale
Contact for pricing
3215 Old Greenwood Rd, Fort Smith, AR 72903
Newly constructed commercial building with modern design and ample parking.
Property Size4,281 SF
Price / SF$315.35
Days on Market1165
Property Features for 3215 Old Greenwood Rd
General Information
Standard status
Active
Size
4,281 SF
Class
A
Property subtype
Office
Zoning
PZD
Lease Type
NNN
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Ghan & Cooper Commercial Properties
(479) 478-6161
Listed By:
Chad Adair · License #AR AB00084468
Source:
Crexi
Added: Jun 13, 2023
Changed: Aug 11
Last Checked: Aug 19 at 6:03PM
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 Ghan & Cooper Commercial Properties
Investment Insights
Based on property information with market context.
Located in Fort Smith, Arkansas, 3215 Old Greenwood Road is a newly constructed building offering 4,281 square feet of commercial space. The building features three suites, each 1,423 square feet, which can be combined. The modern building has a sleek design, ample parking, and easy access to major roads and highways. Its location provides proximity to shopping and dining destinations. The available space is move-in ready, featuring large windows for natural light, high ceilings, and open floor plans.
Key Highlights
- Newly constructed building (2022) offering modern design and appeal.
- Prime commercial space totaling 4,281 SF, divisible into three 1,423 SF suites.
- Move‑in ready condition with open floor plans, high ceilings, and abundant natural light.
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
$42,767
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
3.17%
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%
$855,340
$855.3K
Cap Rate 7%
$610,957
$611.0K
Cap Rate 9%
$475,189
$475.2K
Market Conditions
NOI Build-Up for 4,281 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
$61.6K $14.40/SF
− Vacancy
−$4.6K −$1.08/SF
EGI
$57.0K $13.32/SF
− OpEx
−$14.3K −$3.33/SF
NOI
$42.8K $9.99/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$855,340
Cap Rate 7%
$610,957
Cap Rate 9%
$475,189
Alternative Uses
Best Use
Office B
$611.0K
$534.6K – $712.8K
NOI $42,767 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$910.8K
$797.0K – $1.06M
NOI $63,758 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Newly constructed commercial building with modern design and ample parking.
Where is this office building located?
The property is located at 3215 Old Greenwood Rd Fort Smith, AR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Newly constructed building (2022) offering modern design and appeal.; Prime commercial space totaling 4,281 SF, divisible into three 1,423 SF suites.; Move‑in ready condition with open floor plans, high ceilings, and abundant natural light.
