401 Wheeler AveFort Smith, AR 72901

Property Details for 401 Wheeler Ave

Lot size

0.51 AC

Property size (Sq ft)

16,040 SF

Property type

Auto shops

APN

16477-0002-00567-00

APU

1647700020056700

Description

This exceptional 16,000-square-foot retail property, located at 401 Wheeler Avenue in Fort Smith, Arkansas, presents a unique investment opportunity. Previously used as an automotive repair shop, the building offers significant flexibility for a variety of uses. The entire space is currently vacant and available for lease at a monthly rate of $4,250. Alternatively, the property can be divided. One option is to lease 8,000 square feet of newly renovated space for $2,750 per month, ideal for a business requiring modern amenities. The remaining 8,000 square feet can be leased separately as storage space for $1,500 per month, providing additional income potential. This versatile layout caters to diverse business needs. The building enjoys a prime location directly across from Ok Foods in downtown Fort Smith, situated on Wheeler Avenue, also known as truck route 255, ensuring high visibility and convenient access. All utilities are the responsibility of the tenant. The property is situated in Sebastian County, Arkansas, with a zip code of 72901. This presents a rare chance to secure a substantial retail space in a thriving area of Fort Smith. The property's size, location, and flexible lease options make it an attractive proposition for a wide range of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $2,055,407

  6.5%

  $1,897,299

  7%

  $1,761,778

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,891,300

  Geo Method

  $2,891,300

• Alternative Use

  Use

  Valuation

  Residential

  $1,600,443

  Hospitality

  $1,465,997

  Educational

  $1,219,692

  Medical

  $1,261,639

  Retail

  $1,897,299

Location Insight

City

Fort Smith

County

Sebastian

State

Arkansas

Latitude

35.38

Longitude

-94.4255

CBSA code

22900

CBSA name

FORT SMITH, AR-OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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