Office Building with Monument
For Sale
$325,000
1501 Airport Rd, Hot Springs, AR 71913
COMMERCIAL - Hot Springs, AR
Property Size1,581 SF
Lot Size0.23 Acres
Price / SF$205.57
Days on Market188
Property Features for 1501 Airport Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
4
Interior features
Public Restrooms
Subdivision
Cains Hwy 70 West
Lot features
In Subdivision, Out of City
Directions
Head southeast on Orange St toward Convention Blvd.Turn right onto Convention Blvd.Turn left onto Central Ave/US-70 Continue on US-70 Business (Grand Avenue) westbound to right onto Albert Pike to left onto Airport Rd. to 1501 on left.
Standard status
Active
APN
200-07800-007-000
Size
1,581 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
15-03S-20SW PT LOTS 14&15
Tax Annual Amount
1378
Legal Description
15-03S-20SW PT LOTS 14&15
Building Details
Year built
1953
Floors in Building
1
Flooring type
Wood, Carpet - Partial
Roof type
Composition
Architectural style
Other
Listing Agency:
McGraw Realtors - HSV
(501) 922-0707
Listed By:
Lecie Capshaw
(479) 747-5992
Added: Feb 13
Changed: Aug 17
Last Checked: Aug 20 at 5:06AM
MLS# 26005630
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 1,581-square-foot office building occupies a 0.23-acre property on Airport Road in Hot Springs. The interior includes three private offices, a conference room, reception space, and rear administrative and storage areas. Wood flooring extends through much of the building, with partial carpeting, and the structure has a composition roof. Built in 1953, the property was previously used as a law office.
The site fronts five-lane Airport Road, where estimated traffic counts range from 30,000-40,000 vehicles per day. Four on-site parking spaces serve visitors and staff. A roadside monument sign with an electronic message banner provides on-site messaging capability. The layout and existing improvements support office users, including professional services, medical, insurance, and real estate firms.
The site fronts five-lane Airport Road, where estimated traffic counts range from 30,000-40,000 vehicles per day. Four on-site parking spaces serve visitors and staff. A roadside monument sign with an electronic message banner provides on-site messaging capability. The layout and existing improvements support office users, including professional services, medical, insurance, and real estate firms.
Key Highlights
- 1,581 SF office building on a 0.23‑acre property
- Three private offices, conference room, reception area, and rear administrative/storage space
- Frontage on five‑lane Airport Road with estimated traffic of 30,000‑40,000 vehicles per day
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
$15,179
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
4.67%
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%
$303,580
$303.6K
Cap Rate 7%
$216,843
$216.8K
Cap Rate 9%
$168,656
$168.7K
Market Conditions
NOI Build-Up for 1,581 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
$22.8K $14.40/SF
− Vacancy
−$2.5K −$1.60/SF
EGI
$20.2K $12.80/SF
− OpEx
−$5.1K −$3.20/SF
NOI
$15.2K $9.60/SF
Area
Garland County, AR
Vacancy
11.10%
Lease Rate
$14.40 /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%
$303,580
Cap Rate 7%
$216,843
Cap Rate 9%
$168,656
Alternative Uses
Best Use
Office B
$216.8K
$189.7K – $253.0K
NOI $15,179 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$289.1K
$253.0K – $337.3K
NOI $20,239 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Functional office layout with private workrooms, a conference area, reception space, and administrative storage.
Where is this office building located?
The property is located at 1501 Airport Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,581 SF office building on a 0.23‑acre property; Three private offices, conference room, reception area, and rear administrative/storage space; Frontage on five‑lane Airport Road with estimated traffic of 30,000‑40,000 vehicles per day
