Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Hot Springs Title is generated by Realmo AI

    249 Ouachita Avenue, Hot Springs, AR 71901

    View on Map
    Claim this Listing
    For Lease
    $4,975/Mo $12 SF/Yr (calc)

    Lease, Country - Hot Springs, AR

    Property size:
    4,704 SF
    Lot size:
    0.42 Acres
    Added:
    Oct 29, 2025
    Days on Market:
    202
    Last Refresh:
    May 18 at 11:06 am

    Property Features for 249 Ouachita Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    6
    Parking features
    On Street
    Interior features
    Display Window
    Standard status
    Active
    APN
    400-26150-002-000C
    Size
    4,704 SF
    Lot size
    0.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9091

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2017
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Todd Woerpel
    Todd Woerpel

    Listing agent Todd Woerpel

    Listing office CBRPM Hot Springs 4328 Central Avenue, Suite J, Hot Springs, AR

    Listing date Oct 29, 2025

    MLS# 25043369 Listing URL

    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.

    HighLights

    • Large 4,704 sq ft space suitable for various business needs.
    • Prime location in a growing area with retail shops, restaurants, wine bars, and nightlife.
    • Close proximity to historic downtown Hot Springs National Park.
    • Short walk to a major convention center.
    • Modern construction, built in 2017.
    • Features central heating and cooling.

    Overview

    This is a 4,704 square foot retail space situated on a 0.42-acre lot. The property is located in a growing area with retail shops, restaurants, wine bars, and nightlife. It is one block from historic downtown Hot Springs National Park and a short walk to one of the state's busiest convention centers. The property is located in Hot Springs, Arkansas, in Garland County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mountain Valley Armory Gun Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.056113
    Latitude
    34.506861

    Nearby Similar for Lease

    • $2,500/Mo
      1,881 SF

      Renovated Commercial Space For Lease

      Renovated commercial space in Hot Springs, ready for lease.
      600 Park Avenue, Suites A&B, Hot Springs, AR 71901
      View Details
    • $2,700/Mo
      2,390 SF

      Hot Springs Professional Center Lease

      Professional center with utilities included in Hot Springs, AR.
      1820 Central Avenue, Suite E, Hot Springs, AR 71901
      View Details
    • $1,200/Mo
      1,350 SF

      Retail/Office Space in Hot Springs

      High-traffic location suitable for retail or office use.
      913 Malvern Avenue, Hot Springs, AR 71901
      View Details
    • $2,717/Mo
      1,427 SF

      Retail/Restaurant Space in Hot Springs

      Vacant retail shell space with tenant improvement allowance available.
      155 Carpenter Dam Road, Hot Springs, AR 71901
      View Details
    • $12 SF/Yr
      2,560 SF

      Professional Office Space Available

      2,560 SF office space near downtown and courthouse.
      523 Orange St, Hot Springs, AR
      View Details
    • $18,000/Mo
      14,019 SF

      Former Car Dealership For Rent

      14,019 SF commercial space ideal for retail or showroom.
      4318 Central Ave, Hot Springs, AR
      View Details
    • Contact for pricing
      9,664 SF

      Retail Space on Central Avenue

      9,664 SF retail suite with prime visibility on Central Ave.
      3339 Central Ave, Hot Springs, AR
      View Details
    • $16 SF/Yr
      10,898 SF

      Medical Office Space for Rent

      Medical office space available in Doctor’s Medical Park.
      130 Medical Park Pl, Hot Springs, AR
      View Details
    • $25 SF/Yr
      2,388 SF

      Retail Space Near Major Anchors

      Retail space with high traffic and easy access.
      1412 Higdon Ferry Rd, Hot Springs, AR
      View Details
    • $2,200/Mo
      3,640 SF

      Versatile Flex Space Available

      Three buildings for lease with yard space in Hot Springs.
      137 Stonewall St, Hot Springs, AR
      View Details
    • $17 SF/Yr
      11,672 SF

      Medical Office Near CHI St. Vincent’s

      Medical office near hospital with private parking and storage.
      225 McAuley Ct, Hot Springs, AR
      View Details
    • Contact for pricing
      1,134 SF

      Medical Office Space Available

      Office space for rent near Highway 270 and CHI Hospital.
      1662 Higdon Ferry Rd, Hot Springs, AR
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in growing area near downtown and convention center.
    Where is this retail space located?
    The property is located at 249 Ouachita Avenue Hot Springs, AR.
    What is the lease rate?
    The lease rate is $4,975 /Mo.
    What are key features of this property?
    This property features: Large 4,704 sq ft space suitable for various business needs.; Prime location in a growing area with retail shops, restaurants, wine bars, and nightlife.; Close proximity to historic downtown Hot Springs National Park.
    (501) 622-8396
    We can help!
    Listing Contact
    Todd Woerpel
    Todd Woerpel
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    249 Ouachita Avenue, Hot Springs, AR 71901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!