Historic Bar Property with
For Sale
Under Contract
$599,000
802 CENTRAL Avenue, Hot Springs, AR 71901
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size2,070 SF
Price / SF$289.37
Days on Market48
Property Features for 802 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD Central Bus. District
Zoning description
CBD Central Bus. District
Directions
From the intersection of Grand and Central, take Central Ave north to the intersection of Central and Bridge St. 802 Central Ave will be on your left.
Subdivision
HOT SPRINGS
Standard status
Active Under Contract
Size
2,070 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
Block 000 Lot 001, 802 Central HPR subdivision, in Garland County AR. Parcel ID 114422
Tax Annual Amount
3467
Legal Description
Block 000 Lot 001, 802 Central HPR subdivision, in Garland County AR. Parcel ID 114422
Amenities
heated and cooled storage
separate stocking room
Building Details
Year built
1920
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Jeffery Vaughn · License #SA00082445
(501) 293-1913
Added: Aug 10
Changed: Aug 31
Last Checked: Sep 26 at 1:06PM
MLS# 156752
Copyright © 2026 Hot Springs Board of Realtors. 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 1920, this bar property at 802 Central Avenue offers 2,070 square feet with approximately 1,800 square feet of finished public space. The layout also includes heated and cooled storage, a separate stocking room, and a built-in bar that will remain with the real estate. The sale excludes the operating business, furnishings, supplies, and other fixtures.
The property is positioned in Historic Downtown Hot Springs across from Bridge Street and directly on Bath House Row. An adjacent city parking lot provides nearby parking access. The CBD Central Bus. District zoning and existing bar-oriented improvements support continued hospitality use, subject to applicable approvals.
The property is positioned in Historic Downtown Hot Springs across from Bridge Street and directly on Bath House Row. An adjacent city parking lot provides nearby parking access. The CBD Central Bus. District zoning and existing bar-oriented improvements support continued hospitality use, subject to applicable approvals.
Key Highlights
- Approximately 1,800 square feet of finished public space
- 2,070‑square‑foot property built in 1920
- Heated and cooled storage plus a separate stocking room
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
$21,890
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
3.65%
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%
$437,800
$437.8K
Cap Rate 7%
$312,714
$312.7K
Cap Rate 9%
$243,222
$243.2K
Market Conditions
NOI Build-Up for 2,070 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
$31.1K $15.00/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$29.2K $14.10/SF
− OpEx
−$7.3K −$3.53/SF
NOI
$21.9K $10.58/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$15.00 /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%
$437,800
Cap Rate 7%
$312,714
Cap Rate 9%
$243,222
Alternative Uses
Best Use
Specialty Retail
$312.7K
$273.6K – $364.8K
NOI $21,890 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$233.5K
$204.3K – $272.4K
NOI $16,345 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$378.6K
$331.2K – $441.7K
NOI $26,499 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
45k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 22%
Hotels & Casinos 17%
Groceries 10%
Burger King
Dining
9,887 visits/mo
0.4 miles
Embassy Suites By Hilton Hot Springs Hotel & Spa
Hotels & Casinos
7,888 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,119 visits/mo
0.4 miles
Exxon
Shops & Services
5,087 visits/mo
0.4 miles
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Bar & Pub - CBD-zoned building includes public space, heated and cooled storage, and a separate stocking room.
Where is this bar & pub located?
The property is located at 802 CENTRAL Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Approximately 1,800 square feet of finished public space; 2,070‑square‑foot property built in 1920; Heated and cooled storage plus a separate stocking room
