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    Property profile & analytics

    703 Rogers Ave Fort Smith, AR 72901-2409

    • Warehouses
    • 5,050 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2023
    $250,000
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1459516
    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

    • Settle John W / Lawyer

    Property Details for 703 Rogers Ave

    Lot size
    0.06 lot acres
    Property size
    5,050 SF
    Property type
    Warehouses
    APN
    16477-0006-00502-01
    APU
    1647700060050201

    Description

    This exceptional 5,050 square foot, two-story building at 703 Rogers Ave in Fort Smith, Arkansas, presents a unique redevelopment opportunity. Located in the heart of downtown, this vacant property boasts a prime location directly across from the Fort Smith Convention Center and adjacent to Prohibition. The building, classified as Class D, is completely gutted, offering a blank slate for a variety of uses. With a permitted zoning of PZD, the possibilities are extensive. The property sits on APN 16477-0006-00502-01 and benefits from high daily traffic volume, with nearly 15,000 vehicles passing by. The building's history adds character, while its current vacant state allows for complete customization. This is a rare chance to acquire a substantial property in a thriving downtown area, ideal for a bar, restaurant, storefront, or other commercial venture. The asking price is $305,000. The property includes one building and one unit. Proximity to a parking garage further enhances its appeal. This is a truly remarkable redevelopment opportunity in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $225,000
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $212,000
      Market price range: $101k - $258k
      AI Estimate
      $295,000
      Market price range: $103k - $408k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.4248
    Latitude
    35.3859
    CBSA code
    22900
    CBSA name
    FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $1,641
    $2,780
    $28,480
    $31,260
    -
    $13,900
    $142,400
    $156,300

    Comparable in this City

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      $65,000
      1,560 SF

      618 9th St

      WAREHOUSE, STORAGE • 1,560 SF
      618 9th St, Fort Smith, AR 72901-2230
      View Details
    • Value Estimation
      $270,000
      2,160 SF

      412 4th St

      WAREHOUSE, STORAGE • 2,160 SF
      412 4th St, Fort Smith, AR 72901
      View Details
    • Value Estimation
      $275,000
      5,960 SF

      68 4th St

      WAREHOUSE, STORAGE • 5,960 SF
      68 4th St, Fort Smith, AR 72901-1920
      View Details
    • Value Estimation
      $275,000
      5,040 SF

      700 7th St

      WAREHOUSE, STORAGE • 5,040 SF
      700 7th St, Fort Smith, AR 72901-4456
      View Details
    • Value Estimation
      $255,000
      1,726 SF

      1022 10th St

      WAREHOUSE, STORAGE • 1,726 SF
      1022 10th St, Fort Smith, AR 72901-1528
      View Details
    • Value Estimation
      $65,000
      1,686 SF

      600 10th St

      WAREHOUSE, STORAGE • 1,686 SF
      600 10th St, Fort Smith, AR 72901-2239
      View Details

    Similar Nearby for Sale

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      Industrial facility with warehouse, office, retail, and shop space.
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    • $470,000
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      Versatile Retail/Warehouse Space Available

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    Similar Nearby for Lease

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      36,600 SF

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      View Details
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      Industrial Space in Fort Smith

      7,000 SF industrial space available for lease.
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      View Details
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      Retail and Warehouse Space Available

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    • $3,500 /Mo
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      View Details
    • $2,100 /Mo
      3,622 SF

      Retail Building with Warehouse

      Retail building with warehouse space available for lease.
      322 Towson Ave, Fort Smith, AR 72901
      View Details
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    703 Rogers Ave
    Fort Smith, AR 72901-2409
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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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