Medical Clinic in Hot
For Sale
$1,495,000
1900 Malvern Ave, Hot Springs National Park, AR 71901
Income-producing medical office in Hot Springs' medical corridor.
Property Size6,650 SF
Price / SF$224.81
Days on Market272
Property Features for 1900 Malvern Ave
General Information
Standard status
Active
Size
6,650 SF
Property subtype
Office
Building Details
Building Size
6,650 SF
Year Built
1985
Listing Agency:
(501) 244-7508
Listed By:
Bill Puddephatt
Source:
Kelleycommercialpartners
Added: Nov 21, 2025
Changed: Aug 9
Last Checked: Aug 20 at 5:26AM
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 Bill Puddephatt
Investment Insights
Based on property information with market context.
A ±6,650 SF medical clinic is available for sale as a stand-alone opportunity or as part of a four-property portfolio of income-producing medical offices. The property is located on the first floor of the Ouachita Professional Medical Building (HPR) in the heart of Hot Springs’ medical corridor and is connected to National Park Medical Center. It features a long-term NNN lease with annual escalations to an established credit tenant. The fully renovated ground-floor clinic has high-end finishes and is currently configured for a Heart Clinic. The property is situated at a signalized intersection at Malvern Avenue & Hollywood Drive, offering easy access to MLK Expressway and major arterials. The surrounding area includes medical offices, a hospital, Hot Springs Country Club, Oaklawn Casino Resort, banks, restaurants, and services. The property is zoned PDD.
Key Highlights
- Long‑term NNN lease in place with annual escalations to an established credit tenant, providing stable income.
- Fully renovated, high‑end ground‑floor clinic designed for a Heart Clinic**, offering a modern and specialized space.
- Located in the heart of Hot Springs' medical corridor on the first floor of the Ouachita Professional Medical Building (HPR).
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
$64,219
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
4.30%
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%
$1,284,380
$1.3M
Cap Rate 7%
$917,414
$917.4K
Cap Rate 9%
$713,544
$713.5K
Market Conditions
NOI Build-Up for 6,650 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
$115.7K $17.40/SF
− Vacancy
−$8.7K −$1.31/SF
EGI
$107.0K $16.10/SF
− OpEx
−$42.8K −$6.44/SF
NOI
$64.2K $9.66/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
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%
$1,284,380
Cap Rate 7%
$917,414
Cap Rate 9%
$713,544
Alternative Uses
Best Use
Healthcare Medical
$917.4K
$802.7K – $1.07M
NOI $64,219 @ 7.0% cap · market cap 4.30%
Second Best
Office B
$912.1K
$798.1K – $1.06M
NOI $63,848 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,131 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Pet Clinic — 401 Golf Links Rd, Hot Springs, AR 71901
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- Peters Brian DVM — 1533 Malvern Ave, Hot Springs, AR 71901
- Kessler Stephanie DVM — 1533 Malvern Ave, Hot Springs, AR 71901
- Johnson Stacy DVM — 1533 Malvern Ave, Hot Springs, AR 71901
Frequently Asked Questions
What type of property is this?
Medical Office Space - Income-producing medical office in Hot Springs' medical corridor.
Where is this medical office space located?
The property is located at 1900 Malvern Ave Hot Springs National Park, AR.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Long‑term NNN lease in place with annual escalations to an established credit tenant, providing stable income.; Fully renovated, high‑end ground‑floor clinic designed for a Heart Clinic**, offering a modern and specialized space.; Located in the heart of Hot Springs' medical corridor on the first floor of the Ouachita Professional Medical Building (HPR).
