523 Garrison Ave 72,799 SF Vacant Office Building Fort Smith, AR 72901 $1,250,000 ($17.17/SF)

A landmark 11-story redevelopment opportunity located in the heart of Downtown Fort Smith, Arkansas.
Formerly known as the historic Ward Garrison Building, the property contains approximately 72,799 square feet and includes multiple associated parking parcels providing approximately 144 parking spaces, a rare amenity for a downtown asset of this scale.
Offered at $1,250,000, the property is available at an attractive basis of approximately $17.17 per square foot, significantly below replacement cost and providing investors with substantial flexibility in redevelopment planning.
The building's historic character, prominent location along Garrison Avenue, and substantial square footage create multiple pathways for value creation, including:
Mixed-use redevelopment
Multifamily conversion
Boutique hospitality
Office or institutional occupancy
Phased adaptive reuse strategies
Downtown Fort Smith continues to benefit from public and private investment initiatives aimed at increasing residential density, encouraging adaptive reuse, and strengthening economic activity throughout the urban core. The property's location places it within walking distance of restaurants, entertainment venues, government offices, professional services, and cultural attractions.
For qualified developers and investors seeking a large-scale redevelopment opportunity with historic significance, parking control, and long-term upside potential, Garrison Towers represents one of the most unique acquisition opportunities currently available in the Fort Smith market.