Updated Historic Theater
1008 Central Avenue Hot Springs, AR 71901
For Sale
$1,100,000
COMMERCIAL - Hot Springs, AR
Property Size9,252 SF
Price / SF$118.89
Days on Market461
Property Features for 1008 Central Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- On Street
- Interior features
- 220 Volt Power, Public Restrooms, Janitor Services, Equipment (see remarks), Inventory (see remarks), Smoke Detector, Burglar Alarm, Handicapped Design, Fire System, Video Surveillance
- Exterior features
- Roof Sign, Wheelchair Accessible
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- Size
- 9,252 SF
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- BLK 105 LOT PT 11
- Tax Annual Amount
- 3731
Building Details
- Year built
- 1927
- Floors in Building
- 2
- Flooring type
- Concrete, Carpet - Partial, Tile
- Roof type
- Aluminum
- Additional Structures
- See Remarks
Listing Agency:
Rix Realty Advantage Team Realtors
(501) 205-1900
Listed By:
Christopher Rix
(501) 627-4075
Added: Apr 23, 2025
Changed: Jul 26
Last Checked: Jul 27 at 2:06AM
MLS# 25015739
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.
An updated theater venue located in the historic downtown theatre, gallery & bathhouse district. The property includes newer HVAC with dust-free active technology, electrical updates with grounded stage, plumbing improvements including low-flow toilets and water heater, and seating upgrades. Stage improvements are supported by new LED Chauvet lighting and new JBL Pro Audio with all-digital iLive, along with fully stocked bars. The venue also has permits in place and multiple operational systems, including a camera system and POS system, refrigeration, and fire sprinkler system plus burglar alarm.
The balcony is not currently in use but is stubbed out with plumbing and electrical for upstairs concession, and there is an additional bathroom on the balcony. The balcony seating is described as offering unobstructed stage views. The property is zoned C1 and is not in the flood plain, with street access both at the front and back of all buildings.
The listing also notes the property can be purchased/assembled with connected 1010 Central Avenue (adding 22,000 sq. ft. +/-) and 1014 Central, a parking lot.
The balcony is not currently in use but is stubbed out with plumbing and electrical for upstairs concession, and there is an additional bathroom on the balcony. The balcony seating is described as offering unobstructed stage views. The property is zoned C1 and is not in the flood plain, with street access both at the front and back of all buildings.
The listing also notes the property can be purchased/assembled with connected 1010 Central Avenue (adding 22,000 sq. ft. +/-) and 1014 Central, a parking lot.
Key Highlights
- Updated historic downtown theatre, gallery & bathhouse district venue built in 1927
- Zoned C1 for flexible redevelopment use; not in the flood plain
- Updates include newer HVAC (dust free active technology), electrical updates with grounded stage, plumbing updates and low‑flow toilets
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.8k | $15.00 |
| − Vacancy | −$8.3k | −$0.90 |
| EGI | $130.5k | $14.10 |
| − OpEx | −$32.6k | −$3.53 |
| NOI | $97.8k | $10.58 |
9,252 SF · lease $15.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,840 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,440 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Historic Central Theater
Theater & Performing Art Venue
Hot Springs Central ...
Theater & Performing Art Venue
Tasteful Noods
Restaurant
FAQs
What type of property is this?
Theater & concert hall - Updated entertainment venue with stage, upgraded audio/lighting, and modern fire and security systems.
Where is this theater & concert hall located?
The property is located at 1008 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Updated historic downtown theatre, gallery & bathhouse district venue built in 1927; Zoned C1 for flexible redevelopment use; not in the flood plain; Updates include newer HVAC (dust free active technology), electrical updates with grounded stage, plumbing updates and low‑flow toilets
