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    Property profile & analytics

    223 Greenwood Ave Fort Smith, AR 72901

    • Commercial real estate
    • 0.16 lot acres
    For Sale
    View listing
    $68,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1249035
    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

    • Commercial real estate

    Property Details for 223 Greenwood Ave

    Lot size
    0.16 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.156-acre commercial lot, located at 223 N Greenwood Ave in Fort Smith, Arkansas (zip code 72901), presents a prime opportunity for investors and developers. Currently zoned C-2, this property offers significant potential for various commercial or multifamily uses. Its highly desirable location boasts high traffic volume, making it an ideal site for businesses seeking maximum visibility and accessibility. The cleared lot is ready for immediate development, eliminating the need for extensive site preparation. The property's address is easily accessible and situated within Sebastian County, Arkansas. The asking price for this strategically positioned land is $68,500. This represents a compelling investment opportunity in a thriving Fort Smith market. The property's latitude and longitude coordinates are 35.3777898 and -94.4038028 respectively. Serious inquiries are encouraged to explore the full potential of this exceptional commercial land parcel.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.4038028
    Latitude
    35.3777898

    Comparable in this City

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      17,300 SF

      Fort Smith Industrial Warehouse

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    • $499,000
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      Versatile Commercial Property with Income

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    • $299,000
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      Multi-Use Building in Fort Smith

      3500 SF multi-use building with offices, bathrooms, and storage.
      1315 S 11Th St, Fort Smith, AR 72901
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    • $399,000
      7,520 SF

      Fort Smith Warehouse with Office

      7,520 SF warehouse with office space for sale.
      1408 Towson Ave, Fort Smith, AR 72901
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    • $450,000
      7,520 SF

      7,520 SF Commercial Building

      Commercial building featuring office and warehouse space for sale.
      1408 Towson Ave, Fort Smith, AR 72901
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    • Contact for pricing
      4,205 SF

      Fort Smith Office/Retail Space

      Office or retail space with high traffic count, 4,205 sqft.
      1400 Highway 71 S, Fort Smith, AR 72901
      View Details

    Similar Nearby for Sale

    • $1,250,000
      17,300 SF

      Fort Smith Industrial Warehouse

      17,300 SF Warehouse, Office, 8 Acres
      2914 O St, Fort Smith, AR 72901
      View Details
    • $399,000
      7,520 SF

      Fort Smith Warehouse with Office

      7,520 SF warehouse with office space for sale.
      1408 Towson Ave, Fort Smith, AR 72901
      View Details
    • $499,000
      10,112 SF

      Versatile Commercial Property with Income

      Commercial property in Fort Smith with office, warehouse, and cell tower.
      4301 S 16Th St, Fort Smith, AR 72901
      View Details
    • $299,000
      3,500 SF

      Multi-Use Building in Fort Smith

      3500 SF multi-use building with offices, bathrooms, and storage.
      1315 S 11Th St, Fort Smith, AR 72901
      View Details
    • $450,000
      7,520 SF

      7,520 SF Commercial Building

      Commercial building featuring office and warehouse space for sale.
      1408 Towson Ave, Fort Smith, AR 72901
      View Details
    • Contact for pricing
      4,205 SF

      Fort Smith Office/Retail Space

      Office or retail space with high traffic count, 4,205 sqft.
      1400 Highway 71 S, 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
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    • $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
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    • $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
    • $2,250 /Mo
      3,200 SF

      Flex/Shop Space For Rent

      3,200 SF flex/shop space with office and roll-up doors.
      5406 S 28Th St, Fort Smith, AR 72901
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      1 SF

      Phoenix Ave Retail Center

      Fort Smith, AR Retail Space For Lease
      1820 Phoenix Ave, Fort Smith, AR 72901
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    • $1,450 /Mo
      1,160 SF

      Garrison Avenue Office Suites

      Office suites available on Garrison Avenue with elevator access.
      707-711 Garrison Ave, Fort Smith, AR 72901
      View Details
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    223 Greenwood Ave
    Fort Smith, AR 72901
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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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