Multi-Use Downtown Commercial
1010 Central Avenue Hot Springs, AR 71901
For Sale
$2,150,000
COMMERCIAL - Hot Springs, AR
Property Size22,083 SF
Lot Size0.24 Acres
Price / SF$97.36
Days on Market370
Property Features for 1010 Central Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 11
- Interior features
- 220 Volt Power, Public Restrooms, Display Window, Window Treatments, Handicapped Design, Fire System, Kitchen Area, Living Area, In-Unit Bathroom, Living Space Included, Showers, Stairs, Glazed Windows
- Exterior features
- Guttering, Pole Sign, Door Sign, Overhead Doors, Wheelchair Accessible, Video Surveillance
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 22,083 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- BLK 105 LOT PT 10 & 11
- Tax Annual Amount
- 3264
Building Details
- Year built
- 1945
- Floors in Building
- 2
- Flooring type
- Concrete, Vinyl, Tile
- Roof type
- Membrane
Listing Agency:
Rix Realty Advantage Team Realtors
(501) 205-1900
Listed By:
Christopher Rix
(501) 627-4075
Added: Jul 23, 2025
Changed: Jul 26
Last Checked: Jul 27 at 6:06AM
MLS# 25029183
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 concrete-and-steel multi-level commercial building offers flexible uses and a practical mix of income and operating space. The property features 11' ceilings, a newer roof with 60mil TPO, newer HVAC, and electrical and plumbing upgrades throughout. Restaurant functionality is supported by a commercial kitchen with a grease trap, plumbed bars, and a second-story kitchen area with a 10' commercial vent hood and plumbing updates. Interior circulation includes an indoor ramp from street level to the second floor, as well as stairs. The roofline provides views, and the building includes features such as emergency exit signage and lighting, a newer garage door opener, and paint and other improvements. There is a residence on the top floor with plans referenced for 9 rental loft apartments. The garage can park 11 vehicles.
Situated on the city parade route in the heart of the entry block to Downtown, the building benefits from high foot traffic and vehicle activity. It is located on Central Avenue in Hot Springs, AR, with ample parking surrounding the property.
Upstairs and downstairs are metered separately. The property is described as not being in a flood zone, and it is identified as being suitable for multiple uses under CBD/C1 zoning.
Situated on the city parade route in the heart of the entry block to Downtown, the building benefits from high foot traffic and vehicle activity. It is located on Central Avenue in Hot Springs, AR, with ample parking surrounding the property.
Upstairs and downstairs are metered separately. The property is described as not being in a flood zone, and it is identified as being suitable for multiple uses under CBD/C1 zoning.
Key Highlights
- 22,000 sq ft space in a concrete‑and‑steel building with CBD/C1 zoning, suitable for retail, museum, restaurant, office, and more.
- Newer 60‑mil TPO roof with decking insulation, plus fiber optic Wi‑Fi and newer HVAC.
- Commercial kitchen includes grease trap, with 2nd‑story kitchen area featuring a 10' commercial vent hood and plumbing updates.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $265.0k | $12.00 |
| − Vacancy | −$15.9k | −$0.72 |
| EGI | $249.1k | $11.28 |
| − OpEx | −$74.7k | −$3.38 |
| NOI | $174.4k | $7.90 |
22,083 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$3.34M
$2.92M – $3.89M
NOI $233,528 @ 7.0% cap · market cap 10.86%
Second Best
Office B
$3.03M
$2.65M – $3.53M
NOI $212,023 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$4.04M
$3.53M – $4.71M
NOI $282,698 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Temple Vault Inc
Trucking Company
FAQs
What type of property is this?
Retail space - Concrete-and-steel multi-level building includes retail, offices, and restaurant infrastructure with separate metering and ample parking.
Where is this retail space located?
The property is located at 1010 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 22,000 sq ft space in a concrete‑and‑steel building with CBD/C1 zoning, suitable for retail, museum, restaurant, office, and more.; Newer 60‑mil TPO roof with decking insulation, plus fiber optic Wi‑Fi and newer HVAC.; Commercial kitchen includes grease trap, with 2nd‑story kitchen area featuring a 10' commercial vent hood and plumbing updates.
