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

    502 Garrison Ave Fort Smith, AR 72901-2507

    • Office buildings
    • 3,856 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0472050
    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

    • Hickey & Hull Law Partners - Fort Smith / Family Law Attorney / Attorney
    • Christian Byars & Hickey / Lawyer
    • Houston James / Attorney

    Property Details for 502 Garrison Ave

    Lot size
    0.06 lot acres
    Property size
    3,856 SF
    Property type
    Office buildings
    APN
    17332-0005-00000-00
    APU
    1733200050000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $252,000
      Market price range: $155k - $362k
      AI Estimate
      $294,000
      Market price range: $146k - $479k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $265,000
      Current use
      AUTO REPAIR, GARAGE
      $375,000
      Change: +42% Conversion: Difficult
      RETAIL STORES
      $275,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.4263
    Latitude
    35.3875
    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
    $2,041
    $5,040
    $33,840
    $38,880
    -
    $25,200
    $169,200
    $194,400

    Comparable in this City

    • Value Estimation
      $260,000
      600 SF

      2012 Towson Ave

      OFFICE BUILDING • 600 SF
      2012 Towson Ave, Fort Smith, AR 72901-5903
      View Details
    • Value Estimation
      $215,000
      1,013 SF

      5505 30th St

      OFFICE BUILDING • 1,013 SF
      5505 30th St, Fort Smith, AR 72901-8731
      View Details
    • Value Estimation
      $235,000
      5,000 SF

      113 9th St

      OFFICE BUILDING • 5,000 SF
      113 9th St, Fort Smith, AR 72901
      View Details
    • Value Estimation
      $250,000
      384 SF

      24 6th St

      OFFICE BUILDING • 384 SF
      24 6th St, Fort Smith, AR 72901
      View Details
    • Value Estimation
      $235,000
      1,711 SF

      628 Greenwood Ave

      OFFICE BUILDING • 1,711 SF
      628 Greenwood Ave, Fort Smith, AR 72901-3512
      View Details
    • Value Estimation
      $260,000
      884 SF

      2920 Jenny Lind Rd

      OFFICE BUILDING • 884 SF
      2920 Jenny Lind Rd, Fort Smith, AR 72901-6735
      View Details

    Similar Nearby for Sale

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      Mid Century Modern Office Building

      2,553 SF office building suitable for single or multiple tenants.
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    • $600,000
      6,100 SF

      Stand-Alone Office Building For Sale

      Two-story, 6,100 SF office building with lease in place.
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    • $499,000
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      Versatile Commercial Property with Income

      Commercial property in Fort Smith with office, warehouse, and cell tower.
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      Remodeled Historical Office Building

      Remodeled office building with apartment in Fort Smith, Arkansas.
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    • $1,250,000
      17,300 SF

      Fort Smith Industrial Warehouse

      17,300 SF Warehouse, Office, 8 Acres
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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 Lease

    • Contact for pricing
      5,360 SF

      Downtown Office Space with Views

      Multiple office floors available with 360-degree views.
      524 Garrison Ave, Fort Smith, AR 72901
      View Details
    • $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
    • Contact for pricing
      4,069 SF

      Executive Office Suite in Fort Smith

      Prime location, 1100 sq ft available
      423 Rogers Ave, Fort Smith, AR 72901
      View Details
    • $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
    • $950 /Mo
      1,010 SF

      Charming Townhouse with Modern Amenities

      Two-story townhouse with modern kitchen, patio, and pet-friendly policy.
      1711 S Jackson St, Fort Smith, AR 72901
      View Details
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    502 Garrison Ave
    Fort Smith, AR 72901-2507
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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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