Updated Nightclub
For Sale
$1,100,000
1008 CENTRAL Avenue, Hot Springs, AR 71901
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size9,252 SF
Price / SF$118.89
Days on Market137
Property Features for 1008 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RN-1 Res Nbhd 1 District
Zoning description
RN-1 Res Nbhd 1 District
Interior features
Sprinkler, Public Restrooms, Janitor Services, Equipment (See Remarks), Inventory (See Remarks), Smoke Detector, Burglar Alarm, Handicapped Design
Exterior features
Roof Sign
Accessibility
Accessible Approach with Ramp
Subdivision
HSR BLK 105
Directions
1008 Central.
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
Legal Description
BLK 105 LOT PT 11
Amenities
camera system
burglar alarm
Building Details
Year built
1927
Floors in Building
2
Flooring type
Carpet - Partial
Roof type
Metal
Additional Structures
See Remarks
Listing Agency:
Rix Realty - Advantage Team Realtors
(501) 205-1900
Listed By:
Chris Rix · License #00059757
(501) 627-4075
Added: Apr 21
Changed: Sep 4
Last Checked: Sep 4 at 6:06AM
MLS# 150620
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.
This 9,252-square-foot venue was built in 1927 and has been updated with HVAC, electrical, plumbing, lighting, audio, stage, seating, and life-safety improvements. The property includes fully stocked bars, refrigeration, public restrooms, a camera system, POS equipment, a fire sprinkler system, and a burglar alarm. A balcony is currently unused but has stubbed plumbing and electrical for an upstairs concession area, along with an additional bathroom and unobstructed stage views.
The building has street access from both the front and rear and is not located in a flood plain. It sits in Hot Springs’ historic downtown theatre, gallery, and bathhouse district, two blocks south of the downtown traffic bottleneck and historic district boundary. The property may also be assembled with connected 1010 Central Avenue, adding approximately 22,000sqf +/- and 1014 Central, a parking lot.
The building has street access from both the front and rear and is not located in a flood plain. It sits in Hot Springs’ historic downtown theatre, gallery, and bathhouse district, two blocks south of the downtown traffic bottleneck and historic district boundary. The property may also be assembled with connected 1010 Central Avenue, adding approximately 22,000sqf +/- and 1014 Central, a parking lot.
Key Highlights
- 9,252‑square‑foot venue built in 1927
- Updated HVAC, electrical, plumbing, stage, seating, lighting, and audio systems
- Fully stocked bars with refrigeration, POS system, and camera system
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
$97,840
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
8.89%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
75k
Monthly Visits Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- J & B Party Center Inc — 1600 Central Ave, Hot Springs, AR 71901
- 3B's Bar and Grill — 630 Ouachita Ave, Hot Springs, AR 71901
- Lagoria bar and grill — 312 W Grand Ave, Hot Springs, AR 71901
- 421 SPORTS BAR — 421 Broadway St, Hot Springs, AR 71901
- Pocket's Full Sports Bar — 110 Jefferson St, Hot Springs, AR 71901
Frequently Asked Questions
What type of property is this?
Night club - Historic venue with a stage, production systems, bars, balcony infrastructure, and front-and-back street access.
Where is this night club 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: 9,252‑square‑foot venue built in 1927; Updated HVAC, electrical, plumbing, stage, seating, lighting, and audio systems; Fully stocked bars with refrigeration, POS system, and camera system
