Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1003 Park Ave Hot Springs, AR 71901

    Sponsored
    For Sale
    $279,000

    Building and Land - Hot Springs, AR

    Property size:
    3,180 SF
    Lot size:
    0.46 Acres
    Days on Market:
    15
    Last Refresh:
    Jan 28 at 8:06 pm

    Property Features for 1003 Park Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    400-19600-067-000
    Parking
    7
    Exterior features
    Partially Fenced, Pole Sign, Wheelchair Accessible, Video Surveillance, Additional Outbuildings
    Fencing
    Fenced, Partial
    Accessibility
    Accessible Approach with Ramp
    Size
    3,180 SF
    Lot size
    0.46 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1880
    Floors in Building
    1
    Flooring type
    Wood
    Building materials
    Other, See Remarks
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Sharon Tremor
    Sharon Tremor

    Trademark Real Estate Inc. HSV (501) 922-0707

    Listing agent Sharon Tremor (501) 922-0707

    Listing date Jan 14, 2026

    MLS# 26002221 Listing URL

    Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hot Springs Retail Opportunity

    This property, formerly the Red Light Coffee House, is situated on approximately 0.46 acres of land bordering Reid Street. The site features two asphalt entrances. An adjacent parcel of land with asphalt is available for an additional price, and is zoned CTR. The original building dates back to 1880, with a residential addition constructed in 1975 by the previous owners of an antique store. The property offers multi-use potential and a blank canvas for customization. It includes an on-demand electric water heater, a functional roof and HVAC system, and a handicap-accessible bathroom. The location is part of a treasured community and a loved location by many. The Northwoods Trail is located down the road past the new Red Light Coffee Shop location. The building has 3,180 square feet of retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Red Light Roastery ... Coffee Shop Larkmartin Soaps Gift Shop

    Suggested Use

    Realty agency Law Firm Restaurant Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply Auto Repair Shop Kitchen & Bath

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.046682
    Latitude
    34.531222

    Nearby Similar for Sale

    • $1,150,000
      4,300 SF

      Fenced Acreage with Home and Amenities

      Private, fenced 20+ acre property with home, pool, shop, and barn.
      417 Randall Rd, Hot Springs, AR 71913
      View Details
    • $1,200,000
      4,267 SF

      Established Hot Springs Bar for Sale

      Profitable bar and restaurant business opportunity in downtown Hot Springs.
      700 Central Ave, Hot Springs, AR 71901
      View Details
    • $1,750,000
      10,466 SF

      Historic Bed & Breakfast Opportunity

      Established bed and breakfast in a prime historic district.
      420 Quapaw Ave, Hot Springs, AR 71901
      View Details
    • $2,750,000
      48,632 SF

      Downtown Hot Springs Redevelopment Opportunity

      Historic building with retail and redevelopment potential in Hot Springs.
      260 Central Ave, Hot Springs, AR 71901
      View Details
    • $1,900,000
      22,083 SF

      Downtown Hot Springs Mixed-Use Building

      22,000+ sqft mixed-use building in the heart of Hot Springs.
      1010 Central Ave, Hot Springs, AR 71901
      View Details
    • $474,900
      1,950 SF

      Hot Springs Farm and Ranch

      Renovated 4-bedroom home on 3 acres near Lake Hamilton.
      1115 Albright Rd, Hot Springs, AR 71913
      View Details
    • $598,000
      5,000 SF

      Hot Springs Contemporary Triplex

      Never rented triplex with spacious main house and two apartments.
      106 Imperial Ct, Hot Springs, AR 71913
      View Details
    • $774,900
      4,284 SF

      Historic Hot Springs Bed & Breakfast

      Turnkey bed and breakfast near downtown Hot Springs National Park.
      318 Quapaw Ave, Hot Springs, AR 71901
      View Details
    • New
      $1,490,000
      7,524 SF

      Turnkey Hot Springs Short-Term Rental

      Fully furnished, licensed short-term rental property in Hot Springs, AR.
      226 Prospect Ave, Hot Springs, AR 71901
      View Details
    • $559,000
      2,048 SF

      Lake Hamilton Renovated Duplex

      Renovated lakefront duplex with lake views, pier, and extra lot.
      329 Lookout Pt, Hot Springs, AR 71913
      View Details
    • $549,000
      3,488 SF

      Updated Duplexes Backing National Forest

      Two updated duplexes with forest views and strong rental income.
      167-169 & Xxx Crst St, Hot Springs, AR 71901
      View Details
    • $925,000
      5,813 SF

      Victorian Bed & Breakfast Opportunity

      Historic Victorian bed and breakfast or private residence on 1+ acre.
      808 Park Ave, Hot Springs, AR 71901
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail building and land in a treasured Hot Springs community.
    Where is this retail space located?
    The property is located at 1003 Park Ave Hot Springs, AR.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: - Almost half an acre of land with two asphalt entrances.; - Multi-use property with CTR zoning and blank pallet interior.; - Good roof and HVAC system in place.
    (501) 538-3885
    Request Owner's contact information
    1003 Park Ave Hot Springs, AR 71901
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1003 Park Ave
    Hot Springs, AR 71901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1003 Park Ave Hot Springs, AR 71901
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sharon Tremor
    Sharon Tremor
    (501) 538-3885
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.