Two-Level Restaurant and
For Sale
$1,200,000
101 CENTRAL Avenue, Hot Springs, AR 71901
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size4,125 SF
Lot Size0.40 Acres
Price / SF$290.91
Days on Market65
Property Features for 101 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD Central Bus. District
Zoning description
CBD Central Bus. District
Subdivision
HSR BLK 127
Directions
Take Central Ave. north to property on right (at the split of Park Ave. and Whittington)
Standard status
Active
Size
4,125 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
Pt. Lot 10 & all of Lots 11 & 12, HSR Blk. 127, Garland Co., AR
Tax Annual Amount
7045
Legal Description
Pt. Lot 10 & all of Lots 11 & 12, HSR Blk. 127, Garland Co., AR
Amenities
private parking lot
Building Details
Year built
1960
Floors in Building
2
Roof type
Metal
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Jul 12
Changed: Sep 2
Last Checked: Sep 14 at 6:06AM
MLS# 156223
Copyright © 2026 Hot Springs Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 101 Central Avenue in Hot Springs, Arkansas, this restaurant property includes approximately 4,125 square feet across upper and lower levels. The building dates to 1960 and has a metal roof, while the current operation is identified as Fat Jacks restaurant and bar. The sale includes real estate only; business operations are excluded.
The property occupies approximately 0.40 acres with 150 feet of frontage along Central Avenue and includes a large private parking lot. Its downtown setting places it across from the former Majestic Hotel redevelopment site and near restaurants, shopping, entertainment, and area attractions. Zoning is CBD Central Bus. District.
The property occupies approximately 0.40 acres with 150 feet of frontage along Central Avenue and includes a large private parking lot. Its downtown setting places it across from the former Majestic Hotel redevelopment site and near restaurants, shopping, entertainment, and area attractions. Zoning is CBD Central Bus. District.
Key Highlights
- 4,125‑square‑foot restaurant property at 101 Central Avenue
- Approximately 0.40 acres with 150 feet of Central Avenue frontage
- Large private parking lot included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$872,440
$872.4K
Cap Rate 7%
$623,171
$623.2K
Cap Rate 9%
$484,689
$484.7K
Market Conditions
NOI Build-Up for 4,125 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.9K $15.00/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$58.2K $14.10/SF
− OpEx
−$14.5K −$3.53/SF
NOI
$43.6K $10.58/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$872,440
Cap Rate 7%
$623,171
Cap Rate 9%
$484,689
Alternative Uses
Best Use
Specialty Retail
$623.2K
$545.3K – $727.0K
NOI $43,622 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.4K
$660.1K – $880.1K
NOI $52,807 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - CBD-zoned commercial property with private parking and flexible upper- and lower-level space.
Where is this conventional restaurant located?
The property is located at 101 CENTRAL Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,125‑square‑foot restaurant property at 101 Central Avenue; Approximately 0.40 acres with 150 feet of Central Avenue frontage; Large private parking lot included
