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    Property profile & analytics

    5441 24th St Fort Smith, AR 72901-8613

    • Strip malls
    • 12,096 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2021
    $1,600,000
    Value Estimations
    $1,540,000
    Show details
    Cap Rate Potential
    8.4%
    Strip malls
    Location Intelligence
    Property ID
    US05-1454547
    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

    • Shortys Tamales / Cafe & Coffee Shop
    • NYC Smoke Shop / Factory / Production Facility
    • Harvest Moon Bakery / Bakery / Specialty Food Shop
    • Cricket Wireless Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • Jackson Hewitt Tax Service / Accounting Firm / Tax Preparation

    Property Details for 5441 24th St

    Year built
    2003
    Lot size
    1.04 lot acres
    Property size
    12,096 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    17851-0002-00000-00
    APU
    1785100020000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,510,000
      ML approach
      $1,445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,120,000
      6.5%
      $1,955,000
      7%
      $1,815,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,125,000
      MEDICAL BUILDING
      $1,060,000
      AUTO REPAIR, GARAGE
      $1,055,000
      OFFICE BUILDING
      $965,000
      RETAIL STORES
      $960,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Smith
    County
    Sebastian
    State
    Arkansas
    Longitude
    -94.4092
    Latitude
    35.3299
    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
    $12,472
    $42,590
    $194,970
    $237,560
    -
    $212,950
    $974,850
    $1,187,800

    Comparable in this City

    • Value Estimation by Request
      7,908 SF

      2000 Rogers Ave

      SHOPPING CENTER, STRIP CENTER • 7,908 SF
      2000 Rogers Ave, Fort Smith, AR 72901-3934
      View Details
    • Value Estimation by Request
      4,899 SF

      2222 Rogers Ave

      SHOPPING CENTER, STRIP CENTER • 4,899 SF
      2222 Rogers Ave, Fort Smith, AR 72901-3913
      View Details
    • Value Estimation by Request
      16,882 SF

      3610 Towson Ave

      SHOPPING CENTER, STRIP CENTER • 16,882 SF
      3610 Towson Ave, Fort Smith, AR 72901-7258
      View Details
    • Value Estimation
      $580,000
      38,263 SF

      Towson Ave

      SHOPPING CENTER, STRIP CENTER • 38,263 SF
      Towson Ave, Fort Smith, AR 72901
      View Details
    • Value Estimation by Request
      15,384 SF

      1700 Rogers Ave

      SHOPPING CENTER, STRIP CENTER • 15,384 SF
      1700 Rogers Ave, Fort Smith, AR 72901-3954
      View Details
    • Value Estimation by Request
      17,082 SF

      4600 Towson Ave

      SHOPPING CENTER, STRIP CENTER • 17,082 SF
      4600 Towson Ave, Fort Smith, AR 72901-7961
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $299,000
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      Historic Fort Smith Commercial Building

      Versatile 8,890 SF building in historic downtown Fort Smith.
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      1575 SF commercial building with office and warehouse space.
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    • New
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      15,476 SF

      Fort Smith Auto Repair Garage

      Large auto repair garage with 9 bays in Fort Smith.
      1100 S O St, Fort Smith, AR 72901
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    • $215,000
      1,657 SF

      Fort Smith Restaurant - $215K

      Established Restaurant, High Traffic Area
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      Fort Smith Car Wash Opportunity

      Self-service car wash with redevelopment potential in Fort Smith.
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    Similar Nearby for Lease

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      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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    • $3,000 /Mo
      4,980 SF

      Fort Smith Commercial Space Available

      4980 SF flex space with warehouse and office components.
      918 Wheeler Ave, Fort Smith, AR 72901
      View Details
    • New
      $56,952
      15,476 SF

      Fort Smith Auto Repair Garage

      Large auto repair garage with 9 bays for lease.
      1100 S O St, Fort Smith, AR 72901
      View Details
    • $28,800
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      Fort Smith Commercial Metal Building

      4800 sqft metal building with high visibility and parking.
      1600 Towson Ave, Fort Smith, AR 72901
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    • $2,100 /Mo
      1,928 SF

      Former Car Lot Available

      Retail and shop buildings on a former car lot.
      1811 Towson Ave, Fort Smith, AR 72901
      View Details
    • $2,500 /Mo
      1,600 SF

      Former Automotive Repair Shop Available

      16,000 SF former auto repair shop for rent.
      401 Wheeler Ave, Fort Smith, AR 72901
      View Details

    Property Visit Statistics

    • Visits by month
      1.4k
    • Visitors by month
      1.3k
    • Avg Time on site
      24 min
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    Fort Smith, AR 72901-8613
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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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