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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16 3rd St Fort Smith, AR 72901-1402

    • Outlet malls
    • 7,650 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1119258
    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

    • Designer Again / Consignment Shop

    Property Details for 16 3rd St

    Lot size
    0.24 lot acres
    Property size
    7,650 SF
    Property type
    Outlet malls
    APN
    11317-0004-00016-00
    APU
    1131700040001600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $369,000
      Market price range: $230k - $835k
      AI Estimate
      $409,000
      Market price range: $220k - $961k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $525,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.4273
    Latitude
    35.3895
    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
    $1,961
    $6,340
    $39,400
    $45,740
    -
    $31,700
    $197,000
    $228,700

    Comparable in this City

    • Value Estimation
      $360,000
      15,091 SF

      2619 Rogers Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 15,091 SF
      2619 Rogers Ave, Fort Smith, AR 72901-4145
      View Details
    • Value Estimation
      $280,000
      8,320 SF

      3200 Jenny Lind Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,320 SF
      3200 Jenny Lind Rd, Fort Smith, AR 72901-7102
      View Details
    • Value Estimation
      $500,000
      29,458 SF

      4910 Jenny Lind Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 29,458 SF
      4910 Jenny Lind Rd, Fort Smith, AR 72901-8524
      View Details
    • Value Estimation
      $380,000
      11,510 SF

      1900 Towson Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 11,510 SF
      1900 Towson Ave, Fort Smith, AR 72901-5902
      View Details
    • Value Estimation
      $880,000
      7,930 SF

      1620 Grand Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,930 SF
      1620 Grand Ave, Fort Smith, AR 72901-2940
      View Details
    • Value Estimation
      $270,000
      1,292 SF

      4201 Wheeler Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,292 SF
      4201 Wheeler Ave, Fort Smith, AR 72901-6653
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      43,650 SF

      Fort Smith QSR/Fast Food Site

      High-traffic location, build-to-suit options.
      2701 Zero St, Fort Smith, AR 72901
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    • Contact for pricing
      4,980 SF

      Fort Smith Retail/Warehouse Opportunity

      4980 SF building with warehouse and office/retail space.
      918 Wheeler Ave, Fort Smith, AR 72901
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    • $615,000
      7,031 SF

      Downtown Fort Smith Investment Opportunity

      Multi-tenant commercial property in historic downtown Fort Smith.
      219 Garrison Ave, Fort Smith, AR 72901
      View Details
    • $299,000
      8,890 SF

      Historic Fort Smith Mixed-Use Building

      Versatile 8,890 SF building in historic downtown Fort Smith.
      505 Rogers Ave, Fort Smith, AR 72901
      View Details
    • $185,000
      1,128 SF

      Renovated Auto Service Garage For Sale

      Extensively renovated commercial property with modern updates in Fort Smith.
      1608 Jenny Lind Rd, Fort Smith, AR 72901
      View Details
    • Contact for pricing
      1,575 SF

      Commercial Building in Fort Smith

      Commercial building with office and warehouse space for sale.
      515 Towson Ave, Fort Smith, AR 72901
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      14,440 SF

      Fort Smith Office Suites Available

      Prime Fort Smith Office Space, Multiple Suites
      300 Greenwood Ave, Fort Smith, AR 72901
      View Details
    • $85 SF/Yr
      15,384 SF

      Rogers Ave Retail Space For Lease

      High-visibility retail space in Fort Smith, AR
      1700 Rogers Ave, Fort Smith, AR 72901
      View Details
    • $1,200 /Mo
      1,281 SF

      Retail Building on Lighted Corner

      Stand-alone retail building with garage space and office.
      221 Towson Ave, Fort Smith, AR 72901
      View Details
    • $3,500 /Mo
      1,890 SF

      Move-In Ready Convenience Store Space

      1,890 SF convenience store with gas pumps for lease.
      5307 Towson Ave, Fort Smith, AR 72901
      View Details
    • $3,500 /Mo
      4,800 SF

      Downtown Retail Space Available

      Retail space with offices, washroom, and breakroom in downtown.
      504 Garrison Ave, Fort Smith, AR 72901
      View Details
    • $1,650 /Mo
      5,400 SF

      Retail and Warehouse Space Available

      5,400 SF standalone building with retail and warehouse space.
      2716 Towson Ave, Fort Smith, AR 72901
      View Details
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    16 3rd St
    Fort Smith, AR 72901-1402
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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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