623 Garrison AveFort Smith, AR 72901

Property Details for 623 Garrison Ave

Lot size

0.81 AC

Property size (Sq ft)

60,146 SF

Property type

Office properties

Property subtype

Office buildings

APN

11317-0012-00025-00

APU

1131700120002500

Description

This exceptional six-story office building, located in Fort Smith, Arkansas's Garrison Avenue Historic District at 623 Garrison Ave, 72901, offers 60,146 square feet of traditional and executive office space for lease. Currently, 28,083 square feet is immediately available, divisible into units as small as 2,000 square feet, with a maximum contiguous space of 28,083 square feet. The building features three suites across multiple floors (1, 2, and 6), with ample parking included. The gross lease rate is $14.00 per square foot, which includes all utilities. Tenants are responsible for their own internet, cable, and phone services. Each floor boasts large conference rooms, perfect for meetings and presentations. The sixth floor offers stunning views of downtown Fort Smith. This building sits on a 0.79-acre lot and includes elevators for convenient access to all floors. A significant co-tenant, the City of Fort Smith offices, is already established within the building. This presents a unique opportunity to secure prestigious office space in a vibrant, historic location with excellent amenities and a strong sense of community. The building's central location within the Garrison Avenue Historic District provides easy access to local businesses, restaurants, and cultural attractions.

• CAP approach

  CAP return

  Valuation

  6%

  $5,243,038

  6.5%

  $4,839,727

  7%

  $4,494,032

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,302,244

  Geo Method

  $4,302,244

• Alternative Use

  Use

  Valuation

  Residential

  $6,001,262

  Hospitality

  $5,497,123

  Educational

  $4,573,542

  Medical

  $4,730,833

  Retail

  $7,114,398

Location Insight

City

Fort Smith

County

Sebastian

State

Arkansas

Latitude

35.3873

Longitude

-94.4241

CBSA code

22900

CBSA name

FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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