Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3401 Central Avenue Hot Springs, AR 71913

    View on Map
    Claim this Listing
    New
    For Sale
    $649,900

    Building and Land - Hot Springs, AR

    Property size:
    5,709 SF
    Lot size:
    0.41 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 17 at 7:06 pm

    Property Features for 3401 Central Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    20
    Standard status
    Active
    Size
    5,709 SF
    Lot size
    0.41 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4171

    Building Details

    Year built
    1972
    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Falicia Samuels

    Listing agent Falicia Samuels

    Listing office Crye*Leike Pro Elite Realty 203 S. 26th St., Suite A, Arkadelphia, AR

    Listing date Apr 12, 2026

    MLS# 26014453 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.

    Overview

    Multi-Unit Commercial Property For Sale

    Located at 3401 Central Ave in Hot Springs, this multi-unit commercial property offers a prime investment opportunity. The property, situated on a 0.41-acre corner lot, features 5709 square feet of space and has undergone numerous updates. It comprises three rentable spaces, one of which is already leased, providing immediate cash flow. The remaining spaces are ready for customization. A standout corner unit offers a unique two-story office layout with large windows, abundant natural light, and a modernized interior, suitable for a professional office, retail space, or creative workspace. Additional units feature flexible layouts with updated flooring, fresh paint, and improved finishes. The property benefits from high visibility and ample parking. It is located minutes from Oaklawn Racing Casino Resort and Downtown Hot Springs, placing it in an area with strong traffic and growth. This property presents a value-add opportunity for investors or business owners looking to customize and maximize returns in a prime location.
    Location Intelligence

    Current Use by Public Records

    Parker, J. Scott, ... Dental Office Joseph Scott Parker Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.059325
    Latitude
    34.472083

    Nearby Similar for Sale

    • $750,000
      6,396 SF

      Historic Hot Springs Motel Opportunity

      16-unit motel with residence and office on historic Park Avenue.
      857 Park Avenue, Hot Springs, AR 71901
      View Details
    • $875,000
      3,974 SF

      Updated Buildings in High-Traffic Location

      Two modern commercial buildings suitable for various business uses.
      207 & 209 GOLF LINKS Road, Hot Springs, AR 71901
      View Details
    • $550,000
      2,500 SF

      Hot Springs Commercial Building/Land

      Commercial building suitable for auto service in high-traffic location.
      209 GOLF LINKS Road, Hot Springs, AR 71901
      View Details
    • $579,000
      5,280 SF

      Versatile Commercial Building in Hot Springs

      5280 SF heated/cooled building suitable for various business operations.
      450 BROADWAY Street, Hot Springs, AR 71913
      View Details
    • $499,000
      5,100 SF

      Versatile Warehouse on Usable Land

      5,100 sq ft warehouse on 1.43 acres in Hot Springs.
      1966 Airport Rd, Hot Springs, AR 71913
      View Details
    • $350,000
      1,474 SF

      Commercial Building in Hot Springs, AR

      Move-in-ready commercial building in a high-traffic location.
      207 GOLF LINKS Road, Hot Springs, AR 71901
      View Details
    • $1,875,000
      15,000 SF

      Remodeled Commercial Building in Hot Springs

      15,000 SF remodeled building suitable for various business models.
      1100 & 1034 MALVERN Avenue, Hot Springs, AR 71913
      View Details
    • $699,900
      2,070 SF

      Historic Downtown Commercial Building

      Iconic 1920 building in Historic Downtown Hot Springs.
      802 CENTRAL Avenue, Hot Springs, AR 71901
      View Details
    • $960,000
      9,252 SF

      Updated Venue in Downtown Hot Springs

      Updated venue in historic district, suitable for various uses.
      1008 CENTRAL Avenue, Hot Springs, AR 71901
      View Details
    • $695,000
      5,846 SF

      Hot Springs Commercial Building and Land

      1.7 acres with office and warehouse space on Airport Road.
      2208 Airport Road, Hot Springs, AR 71913
      View Details
    • $1,733,800
      10,727 SF

      Hot Springs Commercial Property For Sale

      Income-producing commercial property with highway frontage and flexible purchase options.
      4884 Malvern Road, Hot Springs, AR 71901
      View Details
    • $119,000
      3,800 SF

      Versatile Building in Hot Springs

      Brick building with road frontage, ideal for commercial or religious use.
      1107 SPRING Street, Hot Springs, AR 71901
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Income-producing investment opportunity near Oaklawn Racing Casino Resort.
    Where is this mixed-use property located?
    The property is located at 3401 Central Avenue Hot Springs, AR.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: Prime commercial property on high‑visibility corner lot near Oaklawn Racing Casino Resort and Downtown Hot Springs.; Multi‑unit property with three rentable spaces, offering income‑producing investment potential.; One unit is already leased, providing immediate cash flow.
    (870) 210-0958
    We can help!
    Listing Contact
    Falicia Samuels
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!