3400 Rogers AveFort Smith, AR 72903

Property Details for 3400 Rogers Ave

Year built

1958

Lot size

6.96 AC

Property size (Sq ft)

59,713 SF

Property type

Community centers

APN

13617-0004-00005-02

APU

1361700040000502

Description

Park Plaza, a 69,106 square foot retail center in Fort Smith, Arkansas, presents a compelling investment opportunity. This fee simple ownership (land and building) includes eleven units, boasting 95% occupancy with a strong tenant mix including Dollar General and Harbor Freight. Tenants occupy a total of 69,106 square feet, generating a substantial net operating income (NOI) of $673,956, representing a 9.25% cap rate. The property features 304 parking spaces and is situated on a 6.96-acre lot zoned C-4. Built in 1958 with renovations in 1965 and 1995, including a recent $200,000 renovation, the property benefits from a new roof with a 20-year warranty and recently resurfaced southern parking lot. Key features include a freestanding pad with a drive-through, corporate guaranteed leases, and multiple anchor tenants. The property enjoys excellent visibility and access along State Highway 22 (34,000 vehicles per day), benefiting from its location within a dense retail corridor near Central Mall and Fort Smith Marketplace, and proximity to the University of Arkansas - Fort Smith campus and Creekmore Park. The 5-mile trade area boasts a population exceeding 85,000 residents and nearly 67,000 daytime employees, with an average household income of $59,000. The asking price is $7,286,000, translating to $105.43 per square foot. This property offers a stable, e-commerce resistant investment with significant upside potential.

Location Insight

City

Fort Smith

County

Sebastian

State

Arkansas

Latitude

35.3716

Longitude

-94.3941

CBSA code

22900

CBSA name

FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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