Flex Space with Wide Access
New
For Sale
$250,000
121 W GRAND Avenue, Hot Springs, AR 71901
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size1,722 SF
Price / SF$145.18
Days on Market1
Property Features for 121 W GRAND Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-L Light Ind District
Zoning description
I-L Light Ind District
Interior features
Public Restrooms, Burglar Alarm
Exterior features
Fully Fenced
Fencing
Full
Subdivision
Hsr
Directions
From Central Ave take Grand Ave headed West. In 0.2 miles property will be on your right on the corner of W Grand and Cherry St.
Standard status
Active
Size
1,722 SF
Taxes and HOA fees
Tax Description
Block 41 Lot PT 4 of HSR BLK 41, Garland County, AR PO S4-T03S-R19W
Tax Annual Amount
1652
Legal Description
Block 41 Lot PT 4 of HSR BLK 41, Garland County, AR PO S4-T03S-R19W
Building Details
Year built
1997
Floors in Building
1
Flooring type
Carpet - Partial, Vinyl
Roof type
Shingle
Buildings
1
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Billy Ward · License #SA00077976
(501) 622-0221
Added: Oct 31
Last Checked: Oct 31 at 10:06PM
MLS# 157821
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.
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Investment Insights
Based on property information with market context.
Built in 1997, this 1,722-square-foot flex space has an open floor plan, an office at the front, two bathrooms, a separate sink area, a closet, and a storage room. Wide double doors along the side provide an opening for moving larger shipments. The building has partial carpet and vinyl flooring, a shingle roof, and a burglar alarm.
The property occupies a fully fenced corner lot at West Grand Avenue and Cherry Street in Hot Springs. It is zoned I-L Light Ind District.
The property occupies a fully fenced corner lot at West Grand Avenue and Cherry Street in Hot Springs. It is zoned I-L Light Ind District.
Key Highlights
- 1,722‑square‑foot flex space built in 1997
- Wide double side doors accommodate larger shipments
- Open floor plan with front office, two bathrooms, sink area, closet, and storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,535
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,700
$210.7K
Cap Rate 7%
$150,500
$150.5K
Cap Rate 9%
$117,056
$117.1K
Market Conditions
NOI Build-Up for 1,722 SF
Gross rent
$17.2K $9.96/SF
− Vacancy
−$943 −$0.55/SF
EGI
$16.2K $9.41/SF
− OpEx
−$5.7K −$3.29/SF
NOI
$10.5K $6.12/SF
Area
Garland County, AR
Vacancy
5.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$210,700
Cap Rate 7%
$150,500
Cap Rate 9%
$117,056
Alternative Uses
Best Use
Flex RnD
$150.5K
$131.7K – $175.6K
NOI $10,535 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$78.7K
$68.9K – $91.8K
NOI $5,508 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$314.9K
$275.6K – $367.4K
NOI $22,044 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,688
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - An open interior and front office area are paired with I-L Light Ind District zoning.
Where is this flex space located?
The property is located at 121 W GRAND Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,722‑square‑foot flex space built in 1997; Wide double side doors accommodate larger shipments; Open floor plan with front office, two bathrooms, sink area, closet, and storage room
