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    46th St Ft Fort Smith, AR 72903

    • Land
    For Lease
    View listing
    $178,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 46th St Ft

    Property type
    Land

    Description

    This exceptional 0.5-acre commercial land parcel presents a unique investment opportunity in Fort Smith, Arkansas. Located at the hard corner of Phoenix Avenue and S 46th Street (zip code 72903), this single-tenant property offers significant potential. The site is situated in a thriving area, adjacent to the newly constructed Class "A" retail development, Phoenix Landing, which features a 1,300-square-foot suite currently available for lease at $32.00 per square foot, NNN. The property's strategic location benefits from its proximity to other commercial properties, including a 2.12-acre lot also available for sale nearby. This high-traffic area is a popular shopping destination in Fort Smith, conveniently located near the Fort Smith Pavilion and Fort Smith Regional Airport. The surrounding area boasts dense residential neighborhoods and the prominent ArcBest Technologies corporate headquarters, ensuring a strong customer base. Recreational amenities such as Parrot Island Waterpark and Hardscrabble Golf Course, as well as the charm of Historic Downtown Fort Smith, are also within easy reach. The ground lease is available for $89,000 per year. This property offers an excellent chance to establish a presence in a dynamic and rapidly growing commercial sector.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.3826
    Latitude
    35.3381

    Comparable in this City

    • Value Estimation by Request
      2.12 Acres

      4410 Phoenix Ave

      Land • 2.12 Acres
      4410 Phoenix Ave, Fort Smith, AR 72903
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    • Value Estimation by Request
      0.72 Acres

      Massard Rd

      Land • 0.72 Acres
      0 Massard Rd, Fort Smith, AR 72903
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      1.20 Acres

      5101 Phoenix Ave

      Individual retail properties • 1.20 Acres
      5101 Phoenix Ave, Fort Smith, AR 72903
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      1.10 Acres

      7601 Terry St

      Land • 2,292 SF
      7601 Terry St, Fort Smith, AR 72903
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      1.50 Acres

      Century Dr

      Land • 1.50 Acres
      0 Century Dr, Fort Smith, AR 72903
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    • Value Estimation by Request
      2.30 Acres

      5738 Massard Rd

      Land • 2.30 Acres
      5738 Massard Rd, Fort Smith, AR 72903
      View Details

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    Similar Nearby for Lease

    • $178,000
      21,780 SF

      Fort Smith Commercial Land Opportunity

      Prime 0.5-acre lot, ideal ground lease.
      46th St Ft, Fort Smith, AR 72903
      View Details
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      Fort Smith Commercial Land Outparcel

      High-visibility 1.2-acre lot, ideal for ground lease.
      5101 Phoenix Ave, Fort Smith, AR 72903
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      36,258 SF

      Rogers Ave Commercial Land

      High-traffic Fort Smith lot, ideal for development.
      8701 Rogers Ave, Fort Smith, AR 72903
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    • Contact for pricing

      Prime Rogers Avenue Lot

      Commercial lot available for build-to-suit or ground lease.
      7615 Rogers Ave, Fort Smith, AR 72903
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    • Contact for pricing

      Phoenix Avenue Vacant Land

      2.23-acre vacant lot on Phoenix Avenue available for lease.
      4500 Phoenix Ave, Fort Smith, AR 72903
      View Details
    • $5,000 /Mo
      2,268 SF

      Retail Space in High-Traffic Area

      Retail suite available in Fort Smith's main retail corridor.
      4900 Rogers Ave, Fort Smith, AR 72903
      View Details
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    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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