Office Building Near
For Sale
$125,000
229 Woodbine, Hot Springs, AR 71901
Commercial / Industrial, Hot Springs, AR
Property Size1,160 SF
Lot Size0.07 Acres
Price / SF$107.76
Days on Market43
Property Features for 229 Woodbine
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
1
Parking features
On Street
Lot features
Level, In Subdivision
Directions
Grand Avenue to Woodbine
Subdivision
HOT SPRINGS SCHOOL DISTRICT
Standard status
Active
Size
1,160 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt. Lot 5, Block 95,HSR Blk.95
Tax Annual Amount
705
Legal Description
Pt. Lot 5, Block 95,HSR Blk.95
Building Details
Year built
1940
Floors in Building
1
Flooring type
Wood, Carpet - Partial
Roof type
Metal
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Debbie Mills
(501) 622-9878
Added: Jul 24
Changed: Sep 2
Last Checked: Sep 4 at 2:06AM
MLS# 26030330
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 1940, this 1,160-square-foot office building occupies a 0.07-acre parcel. Interior finishes include wood and partial carpet, while the structure is topped by a metal roof. On-street parking serves the property.
Located at 229 Woodbine in Hot Springs, the building sits very close to the courthouse. The property information identifies potential office applications including attorney offices, insurance agencies, and accounting or tax practices, along with other professional office uses.
Located at 229 Woodbine in Hot Springs, the building sits very close to the courthouse. The property information identifies potential office applications including attorney offices, insurance agencies, and accounting or tax practices, along with other professional office uses.
Key Highlights
- 1,160‑square‑foot office building on 0.07 acres
- Built in 1940
- Very close to the courthouse
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
$11,137
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
8.91%
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%
$222,740
$222.7K
Cap Rate 7%
$159,100
$159.1K
Cap Rate 9%
$123,744
$123.7K
Market Conditions
NOI Build-Up for 1,160 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
$16.7K $14.40/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$14.8K $12.80/SF
− OpEx
−$3.7K −$3.20/SF
NOI
$11.1K $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%
$222,740
Cap Rate 7%
$159,100
Cap Rate 9%
$123,744
Alternative Uses
Best Use
Office B
$159.1K
$139.2K – $185.6K
NOI $11,137 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$212.1K
$185.6K – $247.5K
NOI $14,850 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,682
Businesses Nearby
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
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 - The building includes wood and partial-carpet flooring, a metal roof, and on-street parking.
Where is this office building located?
The property is located at 229 Woodbine Hot Springs, AR.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1,160‑square‑foot office building on 0.07 acres; Built in 1940; Very close to the courthouse
