Flex Space with
For Sale
$440,000
1966 Airport Rd, Hot Springs, AR 71913
Commercial / Industrial, Hot Springs, AR
Property Size5,100 SF
Lot Size1.43 Acres
Price / SF$86.27
Days on Market214
Property Features for 1966 Airport Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Directions
airport rd on the right.
Subdivision
LAKE HAMILTON SCHOOL DISTRICT
Standard status
Active
APN
100-14209-000
Size
5,100 SF
Lot size
1.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT NE SW
Tax Annual Amount
2510
Legal Description
PT NE SW
Building Details
Year built
1999
Floors in Building
1
Listing Agency:
Signature Homes Real Estate
(501) 359-3059
Listed By:
Bobbie Schroeder · License #EB00079868
(501) 760-8002
Added: Feb 20
Changed: Aug 21
Last Checked: Sep 22 at 2:06PM
MLS# 26006700
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.
Built in 1999, this flex property includes a 5,100-square-foot warehouse on 1.43 acres of level, usable land. The site provides ample parking and a flexible commercial layout, with the existing improvements described as suitable for retail, restaurant, distribution, light industrial, and other business uses.
The property is located at 1966 Airport Rd in Hot Springs, Arkansas. Road frontage and high traffic exposure are identified as site characteristics, while the level acreage supports practical circulation and use of the surrounding land.
The property is located at 1966 Airport Rd in Hot Springs, Arkansas. Road frontage and high traffic exposure are identified as site characteristics, while the level acreage supports practical circulation and use of the surrounding land.
Key Highlights
- 5,100‑square‑foot warehouse on 1.43 acres
- 1999 construction
- Level, usable land surrounding the building
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
$31,201
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
7.09%
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%
$624,020
$624.0K
Cap Rate 7%
$445,729
$445.7K
Cap Rate 9%
$346,678
$346.7K
Market Conditions
NOI Build-Up for 5,100 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
$50.8K $9.96/SF
− Vacancy
−$2.8K −$0.55/SF
EGI
$48.0K $9.41/SF
− OpEx
−$16.8K −$3.29/SF
NOI
$31.2K $6.12/SF
Area
Garland County, AR
Vacancy
5.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$624,020
Cap Rate 7%
$445,729
Cap Rate 9%
$346,678
Alternative Uses
Best Use
Flex RnD
$445.7K
$390.0K – $520.0K
NOI $31,201 @ 7.0% cap · market cap 7.09%
Second Best
Warehouse
$283.0K
$247.6K – $330.2K
NOI $19,809 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$932.7K
$816.1K – $1.09M
NOI $65,288 @ 7.0% cap · market cap 14.84%
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
236
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial space with level land, on-site parking, and road frontage in Hot Springs.
Where is this flex space located?
The property is located at 1966 Airport Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 5,100‑square‑foot warehouse on 1.43 acres; 1999 construction; Level, usable land surrounding the building
