Updated Theater and Entertainment
For Sale
$1,100,000
1008 Central Avenue, Hot Springs, AR 71901
Updated historic venue on C1 zoning with theater seating, modern lighting, audio, and life-safety systems plus front and back street access.
Property Size9,252 SF
Price / SF$118.89
Days on Market93
Property Features for 1008 Central Avenue
General Information
Standard status
Active
Size
9,252 SF
Property subtype
Commercial / Industrial
Listing Agency:
Rix Realty Advantage Team Realtors
(501) 205-1900
Listed By:
Christopher Rix · License #PB00059757
(501) 627-4075
Source:
Arprorealty
Added: Jul 29
Changed: Oct 26
Last Checked: Oct 28 at 7:47AM
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 Rix Realty Advantage Team Realtors
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Investment Insights
Based on property information with market context.
Updated theater and entertainment venue in the historic downtown theatre, gallery and bathhouse district, with updates across HVAC, electrical, plumbing, lighting, and stage systems. The property includes newer HVAC with dust free active technology, electrical updates with grounded stage, plumbing updates including low-flow toilets, a water heater, and stage improvements. Lighting has been upgraded with new LED Chauvet lighting, and the sound system includes new JBL Pro Audio with all digital iLive.
The venue is equipped for operations with fully stocked bars, permits, a camera system, and a POS system, plus refrigeration and fire sprinkler and burglar alarm systems. Seating upgrades are included, and the balcony—while not in use—has plumbing and electrical stubbed out for an upstairs concession, along with an additional bathroom on the balcony.
Zoned C1 allowing for flexible use, the property is not in the flood plain and has street access both front and back of the buildings. The venue totals 9,252 SF.
The venue is equipped for operations with fully stocked bars, permits, a camera system, and a POS system, plus refrigeration and fire sprinkler and burglar alarm systems. Seating upgrades are included, and the balcony—while not in use—has plumbing and electrical stubbed out for an upstairs concession, along with an additional bathroom on the balcony.
Zoned C1 allowing for flexible use, the property is not in the flood plain and has street access both front and back of the buildings. The venue totals 9,252 SF.
Key Highlights
- Zoned C1 allowing most flexible use for redevelopment
- 9,252 SF updated theater venue in the historic downtown theatre district
- Newer HVAC with dust free active technology
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,840
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,956,800
$2.0M
Cap Rate 7%
$1,397,714
$1.4M
Cap Rate 9%
$1,087,111
$1.1M
Market Conditions
NOI Build-Up for 9,252 SF
Gross rent
$138.8K $15.00/SF
− Vacancy
−$8.3K −$0.90/SF
EGI
$130.5K $14.10/SF
− OpEx
−$32.6K −$3.53/SF
NOI
$97.8K $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 Rate 5%
$1,956,800
Cap Rate 7%
$1,397,714
Cap Rate 9%
$1,087,111
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
75k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 27%
Hotels & Casinos 11%
Groceries 6%
McDonald's
Dining
18,055 visits/mo
0.5 miles
Burger King
Dining
9,887 visits/mo
0.2 miles
Embassy Suites By Hilton Hot Springs Hotel & Spa
Hotels & Casinos
7,888 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
7,854 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.2 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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Theater & concert hall - Updated historic venue on C1 zoning with theater seating, modern lighting, audio, and life-safety systems plus front and back street access.
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: Zoned C1 allowing most flexible use for redevelopment; 9,252 SF updated theater venue in the historic downtown theatre district; Newer HVAC with dust free active technology
