260 Central Ave Hot Springs, AR 71901

This commercial building, located in the heart of downtown Hot Springs National Park, Arkansas, offers a unique investment opportunity. The property has Federal & State Historic Tax Credit approval. The ground level features high foot traffic with retail tenants, producing long-term rental income, and a lobby for the upper floors. Floors 2-5 offer a redevelopment opportunity with 80 +/- units. The street-level retail is updated and fire sprinkled. The upper floors feature Carrera Marble, common hallways with original Mosaic tile floors, and views of the National Park. Every unit has high ceilings and sensible floor plan opportunities, with several original bathrooms intact. An elevator shaft and original elevator car are present, along with 2 skylights, one of which is stained leaded glass. Preservation work includes retail spaces remodeled to current code, debris removal, some basement work, and TPO Membrane roofing. The building, with a size of 48632 square feet, is the last of its magnitude in downtown. The building is located at 256, 258, 260, 262 & 264 Central Avenue. The area is a tourist town with over 2 million visitors per year, immediate paved walking or mountain hiking & biking trails, neighboring restaurants, hotels & shopping, public springs for drinking water, incredible air quality, relaxed informal area, casino/Thoroughbreds, and a lake area. An Aloft Hotel is under construction a few doors away. The property is located in a RN-1 Res Nbhd 1 District.