Two-Level Bar & Pub
For Sale
$1,200,000
101 Central Avenue, Hot Springs, AR 71901
Commercial / Industrial, Hot Springs, AR
Property Size4,125 SF
Lot Size0.41 Acres
Price / SF$290.91
Days on Market76
Property Features for 101 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Central Business
Parking
20
Directions
Take Central Ave. north to property on right (at the split of Park Ave. and Whittington).
Subdivision
HOT SPRINGS SCHOOL DISTRICT
Standard status
Active
Size
4,125 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
Pt Lt 10 & all of Lts 11 & 12
Tax Annual Amount
7045
Legal Description
Pt Lt 10 & all of Lts 11 & 12
Amenities
private parking lot
Building Details
Year built
1960
Floors in Building
2
Roof type
Metal
Listing Agency:
ESQ. Realty Group - Hot Springs
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Jul 1
Changed: Sep 2
Last Checked: Sep 14 at 6:06AM
MLS# 26027283
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.
Investment Insights
Based on property information with market context.
This 4,125-square-foot commercial building at 101 Central Avenue contains upper and lower levels and was built in 1960. A metal roof and private parking lot are included with the real estate. The property is currently occupied by Fat Jacks restaurant and bar, while the sale excludes business operations.
Located in downtown Hot Springs, the building has 150 feet of frontage along Central Avenue. It sits across from the former Majestic Hotel redevelopment site and is surrounded by restaurants, shopping, entertainment, and local attractions. The property is offered as real estate only, providing a two-level commercial building with an established downtown setting and dedicated parking.
Located in downtown Hot Springs, the building has 150 feet of frontage along Central Avenue. It sits across from the former Majestic Hotel redevelopment site and is surrounded by restaurants, shopping, entertainment, and local attractions. The property is offered as real estate only, providing a two-level commercial building with an established downtown setting and dedicated parking.
Key Highlights
- 4,125‑square‑foot commercial building at 101 Central Avenue
- 150 feet of Central Avenue frontage in downtown Hot Springs
- Upper and lower levels provide two‑level commercial space
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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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Well-served
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
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - The property includes Central Avenue frontage, private parking, and upper- and lower-level commercial space.
Where is this bar & pub 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 commercial building at 101 Central Avenue; 150 feet of Central Avenue frontage in downtown Hot Springs; Upper and lower levels provide two‑level commercial space
