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    Downtown Hot Springs Mixed-Use Building

    1010 CENTRAL Avenue Hot Springs, AR 71901

    Claim this Listing
    For Sale
    $2,150,000

    COMMERCIAL - Hot Springs, AR

    Property size:
    22,083 SF
    Price / SF:
    $97.36/SF
    Added:
    Apr 21, 2026
    Days on Market:
    84
    Last Refresh:
    Jul 13 at 8:06 pm

    Property Features for 1010 CENTRAL Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Public Restrooms, Display Window, Handicapped Design, Ceiling Height (Remarks)
    Exterior features
    Partially Fenced, Pole Sign, Door Sign
    Fencing
    Partial
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    22,083 SF

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    HSR BLK 105 LOT PT 10 & 11
    Tax Annual Amount
    3530

    Building Details

    Year built
    1945
    Floors in Building
    2

    Listing agent Chris Rix License #00059757

    Listing office Rix Realty - Advantage Team Realtors 1010 Central Ave, Hot Springs, AR

    Listing date Apr 21, 2026

    MLS# 151843

    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.

    Located in the heart of Hot Springs, this mixed-use building offers 22,000 square feet of space. Constructed with concrete and steel, the building is situated outside of the flood zone. Its CBD/C1 zoning allows for various uses, including retail, museum, restaurant, or office space. The building features 11-foot ceilings. The top floor can serve as a residence, vacation rental, or be converted into nine rental loft apartments based on existing plans. Recent upgrades include a newer roof with decking insulation, fiber optic wifi, newer HVAC, a commercial kitchen with a grease trap, electrical and plumbing upgrades, emergency exit signage and lighting, and a new garage door opener. Plumbed bars and fresh paint are also present. The garage can accommodate 11 vehicles. The second-story kitchen area includes a 10-foot commercial vent hood and updated plumbing. An indoor ramp and stairs provide access to the second floor from street level. Situated on the city parade route, the building's roof offers views of downtown and the mountains, making it suitable for a rooftop deck and solar panels. The upstairs and downstairs areas are metered separately. Ample parking is available in the surrounding area. Located two blocks south of the historic district boundary, the property benefits from high foot and vehicle traffic, with several new adjacent businesses. Commercial/residential use is considered the highest and best use, but many options are available. The neighboring building, with over 9,000 square feet, is also available for purchase.

    Key Highlights

    • 22,000 sqf building with CBD/C1 zoning, suitable for various uses.
    • Concrete & Steel construction, not in a flood zone.
    • Potential for 9 rental loft apartments or vacation rental on the top floor.

    Local Financial Insights For 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 $265.0k $12.00
    − Vacancy −$15.9k −$0.72
    EGI $249.1k $11.28
    − OpEx −$74.7k −$3.38
    NOI $174.4k $7.90
    22,083 SF · lease $12.00/SF/yr · vacancy 6.00% · expense 30.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $3.34M
    $2.92M – $3.89M (±1% cap)
    NOI $233,528 @ 7.0% cap · market cap 10.86%
    Second Best
    Office B
    $3.03M
    $2.65M – $3.53M (±1% cap)
    NOI $212,023 @ 7.0% cap · market cap 9.86%
    Theoretical Best
    Office A
    $4.04M
    $3.53M – $4.71M (±1% cap)
    NOI $282,698 @ 7.0% cap · market cap 13.15%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Temple Vault Inc Trucking Company

    Suggested Use

    Storage Facility Locksmith (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Butcher (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Pet Store & Service (Bike/Boat/Book/etc) Store Mobile Phone Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Mixed-use property - 22,000+ sqft mixed-use building in the heart of Hot Springs.
    Where is this mixed-use property located?
    The property is located at 1010 CENTRAL Avenue Hot Springs, AR.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: 22,000 sqf building with CBD/C1 zoning, suitable for various uses.; Concrete & Steel construction, not in a flood zone.; Potential for 9 rental loft apartments or vacation rental on the top floor.
    Contact an agent
    (501) 627-4075
    We can help!
    Contact an agent
    Chris Rix
    Chris Rix
    Real Estate License ID: 00059757
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