524 Garrison AveFort Smith, AR 72901

Property Details for 524 Garrison Ave

Lot size

0.24 AC

Property size (Sq ft)

37,366 SF

Property type

Office buildings

APN

17332-0007-00000-01

APU

1733200070000001

Description

This stunning seven-story, mid-century modern office building, originally the First Federal Savings and Loan, offers 11,000 square feet of immediately available executive office space at 524 Garrison Ave. Located in the heart of downtown Fort Smith, this property boasts breathtaking 360-degree views of the city and the Arkansas River. Multiple floors are available, each approximately 5,360 square feet, offering flexibility with spaces divisible from 2,600 to a maximum contiguous 11,000 square feet. Each floor includes private offices, open work areas, a reception area, and two restrooms. The building features two elevators and ample on-site parking. Tenant amenities include a well-appointed event/conference space on the top floor, complete with a catering kitchen. Built in the early 1960s, this iconic building represents the best of mid-century modern design and is ideally situated near the Arkansas-Oklahoma border. The landlord is open to tenant improvements, contingent upon lease terms, rent, and tenant creditworthiness. This is a rare opportunity to secure prime office space in a landmark building.

• CAP approach

  CAP return

  Valuation

  6%

  $3,257,263

  6.5%

  $3,006,704

  7%

  $2,791,940

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,672,790

  Geo Method

  $2,672,790

• Alternative Use

  Use

  Valuation

  Residential

  $3,728,313

  Hospitality

  $3,415,115

  Educational

  $2,841,336

  Medical

  $2,939,054

  Retail

  $4,419,856

Location Insight

City

Fort Smith

County

Sebastian

State

Arkansas

Latitude

35.3871

Longitude

-94.4257

CBSA code

22900

CBSA name

FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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