Downtown Restaurant and Bar
For Sale
$1,350,000
101 CENTRAL Avenue, Hot Springs, AR 71901
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size4,125 SF
Lot Size0.40 Acres
Price / SF$327.27
Days on Market57
Property Features for 101 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD Central Bus. District
Zoning description
CBD Central Bus. District
Subdivision
HSR BLK 127
Directions
Take Central Ave. north to property on right (at the split of Park Ave. and Whittington)
Standard status
Active
Size
4,125 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
Pt. Lot 10 & all of Lots 11 & 12, HSR Blk. 127, Garland Co., AR
Tax Annual Amount
7045
Legal Description
Pt. Lot 10 & all of Lots 11 & 12, HSR Blk. 127, Garland Co., AR
Building Details
Year built
1960
Floors in Building
2
Roof type
Metal
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Jul 2
Changed: Aug 19
Last Checked: Aug 27 at 7:06AM
MLS# 156223
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 landmark downtown restaurant and bar property is currently operating as Fat Jacks and includes spacious upper and lower levels for versatile commercial use. The sale is real estate only; business operations are not included.
The building sits on approximately 0.40 acres with 150 feet of frontage on Central Avenue in the CBD Central Business District. It also features a large private parking lot, an important convenience for customers and tenants in a downtown setting.
With its prominent frontage and flexible interior layout across two levels, the property can support a range of future commercial concepts within the central business district.
The building sits on approximately 0.40 acres with 150 feet of frontage on Central Avenue in the CBD Central Business District. It also features a large private parking lot, an important convenience for customers and tenants in a downtown setting.
With its prominent frontage and flexible interior layout across two levels, the property can support a range of future commercial concepts within the central business district.
Key Highlights
- Landmark commercial building built in 1960 with metal roof.
- Currently operating as Fat Jacks restaurant and bar; real estate only—business operations not included.
- Located on Central Avenue in downtown Hot Springs, across from the former Majestic Hotel redevelopment site.
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
$43,622
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
3.23%
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%
$872,440
$872.4K
Cap Rate 7%
$623,171
$623.2K
Cap Rate 9%
$484,689
$484.7K
Market Conditions
NOI Build-Up for 4,125 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
$61.9K $15.00/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$58.2K $14.10/SF
− OpEx
−$14.5K −$3.53/SF
NOI
$43.6K $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%
$872,440
Cap Rate 7%
$623,171
Cap Rate 9%
$484,689
Alternative Uses
Best Use
Specialty Retail
$623.2K
$545.3K – $727.0K
NOI $43,622 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.4K
$660.1K – $880.1K
NOI $52,807 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Landmark restaurant and bar building with upper and lower levels, 150 feet of frontage, and a private parking lot.
Where is this bar & pub located?
The property is located at 101 CENTRAL Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Landmark commercial building built in 1960 with metal roof.; Currently operating as Fat Jacks restaurant and bar; real estate only—business operations not included.; Located on Central Avenue in downtown Hot Springs, across from the former Majestic Hotel redevelopment site.
