Historic Victorian Bed &
For Sale
$774,900
318 Quapaw Avenue, Hot Springs, AR 71901
Commercial / Industrial, Victorian, Hot Springs, AR
Property Size4,284 SF
Lot Size0.22 Acres
Price / SF$180.88
Days on Market146
Property Features for 318 Quapaw Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Neighborhood Commercial, Other(See Remarks)
Interior features
Equipment (see remarks), Inventory (see remarks), Smoke Detector, Window Treatments, Furnished, Furniture Included, In-Unit Bathroom, Living Space Included, Programmable Thermostat, Showers, Stairs
Exterior features
Partially Fenced, Storage Building, Pole Sign, Video Surveillance
Fencing
Partial
Lot features
Level, Corner Lot, Resort Property, Extra Landscaping, City Lot, Trail/ Near Trail
Directions
Hot Springs Central Avenue Downtown, Right on Prospect, Left on Quapaw, Business on Right at the corner of Quapaw Ave and Bolton Street
Subdivision
Quapaw Historic District
Standard status
Active
Size
4,284 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Blk 108 Lot Pt 2,3, 4 & 15
Tax Annual Amount
628
Legal Description
Blk 108 Lot Pt 2,3, 4 & 15
Amenities
wrap-around porch
landscaped grounds
gazebo
fitness space
Building Details
Year built
1905
Floors in Building
3
Flooring type
Wood, Tile
Roof type
Metal
Architectural style
Victorian
Additional Structures
Storage, See Remarks
Listing Agency:
Keller Williams Realty The Bergeron Group
(501) 463-6328
Listed By:
Nancy Bergeron
(817) 879-2853
Added: May 4
Changed: Sep 17
Last Checked: Sep 26 at 4:06PM
MLS# 26018054
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 1905, this Victorian bed and breakfast spans 4,284 square feet on a 0.22-acre parcel in Hot Springs. The property includes 5 bedrooms, 5.5 bathrooms, formal living and dining rooms, a fitness area, and separate owner’s quarters. Furnishings and appliances convey with the property, supporting a furnished hospitality operation or private residential use.
Outdoor improvements include a wraparound porch, landscaped grounds, a gazebo, partial fencing, and a detached 2-car garage. A metal roof with a lifetime warranty and tankless water heaters provide updated systems, while wood and tile flooring contribute to the interior character. The home is located at 318 Quapaw Avenue, four blocks from Downtown Hot Springs, Bathhouse Row, Hot Springs National Park, and area spas. Potential use as a short-term rental is subject to local regulations.
Outdoor improvements include a wraparound porch, landscaped grounds, a gazebo, partial fencing, and a detached 2-car garage. A metal roof with a lifetime warranty and tankless water heaters provide updated systems, while wood and tile flooring contribute to the interior character. The home is located at 318 Quapaw Avenue, four blocks from Downtown Hot Springs, Bathhouse Row, Hot Springs National Park, and area spas. Potential use as a short-term rental is subject to local regulations.
Key Highlights
- 1905 Victorian bed and breakfast with 4,284 square feet
- 5 bedrooms and 5.5 bathrooms
- Separate owner’s quarters with formal living and dining rooms
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
$26,437
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
3.41%
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%
$528,740
$528.7K
Cap Rate 7%
$377,671
$377.7K
Cap Rate 9%
$293,744
$293.7K
Market Conditions
NOI Build-Up for 4,284 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
$51.4K $12.00/SF
− Vacancy
−$3.3K −$0.78/SF
EGI
$48.1K $11.22/SF
− OpEx
−$21.6K −$5.05/SF
NOI
$26.4K $6.17/SF
Area
Garland County, AR
Vacancy
6.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$528,740
Cap Rate 7%
$377,671
Cap Rate 9%
$293,744
Alternative Uses
Best Use
Apartment 5plus
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 3.41%
Second Best
Hotel Hospitality
$251.2K
$219.8K – $293.0K
NOI $17,582 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$783.5K
$685.5K – $914.0K
NOI $54,842 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Furnished Victorian property with owner’s quarters, guest amenities, and a detached garage.
Where is this bed & breakfast located?
The property is located at 318 Quapaw Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: 1905 Victorian bed and breakfast with 4,284 square feet; 5 bedrooms and 5.5 bathrooms; Separate owner’s quarters with formal living and dining rooms
