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    Property profile & analytics

    5111 Rogers Ave Fort Smith, AR 72903

    • Super regional malls
    • 650,209 SF
    • 53.06 lot acres
    For Lease
    View listing
    Last Sale
    Jan 02, 2020
    $17,000,000
    Value Estimations
    $14,445,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-1251126
    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

    • Drouillard Brian C DDS / Dental Office
    • Chinese Gourmet Express / Restaurant
    • Brian's Manufacturing / Industrial Manufacturer / Production Facility
    • T-Mobile Authorized Retailer / Telecommunications Service / Data Center
    • MAC Cosmetics / Cosmetic Store

    Property Details for 5111 Rogers Ave

    Lot size
    53.06 lot acres
    Property size
    650,209 SF
    Property type
    Super regional malls
    APN
    18883-0000-01004-00
    APU
    1888300000100400

    Description

    Central Mall, located at 5111 Rogers Ave in Fort Smith, Arkansas (zip code 72903), presents a significant retail opportunity within Sebastian County. This established shopping mall boasts a total of 863,000 square feet of retail space, offering a diverse range of tenancy options. Currently, there are 28 available spaces, ranging in size from a minimum of 180 square feet to a maximum of 35,780 square feet. The largest contiguous space available is 5,609 square feet. A total of 54,401 square feet is currently vacant, providing excellent potential for new businesses or expansion of existing ones. The mall features a food court, adding to its appeal and attracting a significant customer base. The property's prime location in Fort Smith, Arkansas, ensures high visibility and accessibility for tenants. This is an exceptional opportunity to secure retail space in a well-established and thriving shopping center. The property is categorized as a retail mall, offering multiple tenancy options, making it suitable for a variety of businesses. Interested parties should inquire about available space and lease terms. The property is easily accessible via its address on Rogers Avenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,895,000
      ML approach
      $9,795,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,542,000
      Market price range: $12.5M - $25.5M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $17,840,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.3752
    Latitude
    35.3669
    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
    $127,759
    $1,392,334
    $1,041,172
    $2,433,506
    -
    $6,961,670
    $5,205,860
    $12,167,530

    Comparable in this City

    • Value Estimation
      $1,720,000
      67,375 SF

      3925 Phoenix Ave

      REGIONAL SHOPPING CENTER, MALL • 67,375 SF
      3925 Phoenix Ave, Fort Smith, AR 72903-6029
      View Details
    • Value Estimation
      $515,000
      17,977 SF

      1217 Waldron Rd

      SHOPPING CENTER, STRIP CENTER • 17,977 SF
      1217 Waldron Rd, Fort Smith, AR 72903-2585
      View Details
    • Value Estimation by Request
      8,000 SF

      7803 Rogers Ave

      SHOPPING CENTER, STRIP CENTER • 8,000 SF
      7803 Rogers Ave, Fort Smith, AR 72903-5545
      View Details
    • Value Estimation
      $4,925,000
      74,434 SF

      5001 Old Phoenix Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 74,434 SF
      5001 Old Phoenix Ave, Fort Smith, AR 72903-6017
      View Details
    • Value Estimation
      $885,000
      15,000 SF

      6801 Phoenix Ave

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      6801 Phoenix Ave, Fort Smith, AR 72903-5057
      View Details
    • Value Estimation
      $1,430,000
      5,200 SF

      7612 Rogers Ave

      SHOPPING CENTER, STRIP CENTER • 5,200 SF
      7612 Rogers Ave, Fort Smith, AR 72903-5540
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,039 SF

      Retail Space in Fort Smith

      Retail space with strong co-tenancy and high visibility.
      6205 Rogers Ave, Fort Smith, AR 72903
      View Details
    • $950,000
      2,580 SF

      Rogers Ave Retail Investment

      Arkansas QSR/Restaurant - $950K
      5612 Rogers Ave, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      1.00 Acre

      Massard Business Park: Fort Smith Lots

      Prime Fort Smith commercial land, new construction.
      4601 Massard Rd, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      1,120 SF

      Premier Mixed-Use Commercial Space

      Office and retail suites available in growing Fort Smith market.
      5300 S Zero St, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      2.60 Acres

      Fort Smith Retail Land Investment

      Prime Rogers & Massard Road lots.
      0 Massard Rd And Rogers Ave, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      2,400 SF

      Former Bank Branch on Rogers

      Highly visible former bank branch with drive-thru on 1.63 acres.
      8385 Rogers Ave, Fort Smith, AR 72903
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      863,000 SF

      Central Mall Retail Space Available

      Fort Smith, AR Shopping Mall - 28 Spaces
      5111 Rogers Ave, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      1,148 SF

      Retail Space on Rogers Avenue

      Retail space with high visibility and traffic near Central Mall.
      4300 Rogers Ave, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      11,985 SF

      Fort Smith Retail Space Available

      Retail space for lease in Fort Smith Marketplace.
      7609 Rogers Ave, Fort Smith, AR 72903
      View Details
    • $10 SF/Yr
      1,350 SF

      Retail Spaces in La Villa

      Retail spaces available in La Villa Shopping Center.
      1217 S Waldron Rd, Fort Smith, AR 72903
      View Details
    • Contact for pricing
      4,984 SF

      Former Restaurant on High-Traffic Avenue

      Restaurant building with equipment on a high-traffic Rogers Avenue.
      6401 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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