Historic Bar
For Sale
$599,000
1-802 Central Ave, Hot Springs, AR 72941
Includes a built-in bar, conditioned storage, and a separate stocking room.
Property Size2,070 SF
Price / SF$289.37
Days on Market106
Property Features for 1-802 Central Ave
General Information
Standard status
Active
Size
2,070 SF
Taxes and HOA fees
Annual Taxes
$3,466
Amenities
heated and cooled storage
separate stocking room
Building Details
Year Built
1920
Buildings
1
Listing Agency:
ESQ. Realty Group
(501) 293-1913
Listed By:
Jeffery Vaughn · License #SA00082445
(501) 293-1913
Source:
Exprealty
Added: May 19
Changed: Aug 31
Last Checked: Aug 31 at 12:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ESQ. Realty Group
Investment Insights
Based on property information with market context.
This 1920 commercial building at 1-802 Central Ave includes approximately 1,800 square feet of finished public space within a 2,070-square-foot property. The layout also provides heated and cooled storage, a separate stocking room, and a built-in bar that will remain with the real estate.
The property is positioned in Historic Downtown across from Bridge Street and directly on Bath House Row. An adjacent city parking lot provides convenient access for the property and its customers. The sale includes the real estate only; the operating business, furnishings, supplies, and other fixtures are excluded.
The property is positioned in Historic Downtown across from Bridge Street and directly on Bath House Row. An adjacent city parking lot provides convenient access for the property and its customers. The sale includes the real estate only; the operating business, furnishings, supplies, and other fixtures are excluded.
Key Highlights
- 1920 commercial building in Historic Downtown
- Approximately 1,800 square feet of finished public space
- 2,070‑square‑foot property
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
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72941, AR
5,079
Population
2,043
Households
2.5
Avg Household Size
41
Median Age
16%
College-Educated
93%
High-School Grad
43.4 sq mi
ZIP Area
117
Density / Sq Mi
$77,292
Median Household Income
$37,540
Median Earnings
$889
Median Rent
$159,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bar & Pub - Includes a built-in bar, conditioned storage, and a separate stocking room.
Where is this bar & pub located?
The property is located at 1-802 Central Ave 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: 1920 commercial building in Historic Downtown; Approximately 1,800 square feet of finished public space; 2,070‑square‑foot property
