Flex Space with Shipments
New
For Sale
$250,000
121 W Grand Avenue, Hot Springs, AR 71901
Commercial / Industrial, Hot Springs, AR
Property Size1,722 SF
Lot Size0.15 Acres
Price / SF$145.18
Days on Market7
Property Features for 121 W Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Interior features
Burglar Alarm, Ceiling Fans, Public Restrooms
Exterior features
Fully Fenced, Guttering
Fencing
Full
Lot features
Corner Lot, Major Road Frontage, Sidewalks
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.
Subdivision
HOT SPRINGS SCHOOL DISTRICT
Standard status
Active
Size
1,722 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Blk 14 LotPT4 of HSR Blk 41
Tax Annual Amount
1652
Legal Description
Blk 14 LotPT4 of HSR Blk 41
Building Details
Year built
1997
Floors in Building
1
Flooring type
Vinyl, Carpet - Partial
Roof type
Shingle
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Billy Ward · License #SA00077976
(501) 525-1600
Added: Oct 30
Changed: Nov 2
Last Checked: Nov 5 at 4:06AM
MLS# 26043878
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
This 1,722-square-foot flex space has an open floor plan, a front office, two bathrooms, a separate sink area, a closet, and a storage room. Wide double doors along the side provide an opening for moving large shipments. The building was constructed in 1997 and has vinyl flooring with partial carpet, ceiling fans, a burglar alarm, and a shingle roof.
The 0.15-acre parcel is fully fenced and occupies the corner of West Grand Avenue and Cherry Street in Hot Springs.
The 0.15-acre parcel is fully fenced and occupies the corner of West Grand Avenue and Cherry Street in Hot Springs.
Key Highlights
- 1,722 square feet on a 0.15‑acre lot
- Open floor plan with front office, closet, and storage room
- Two bathrooms and a separate sink area
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
Warehouse
$95.6K
$83.6K – $111.5K
NOI $6,689 @ 7.0% cap · market cap 2.68%
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
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
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
Similar Off Market Nearby
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- Rock 'N' Roll Hibachi — 420 Malvern Ave, Hot Springs, AR 71901
Frequently Asked Questions
What type of property is this?
Flex space - Open interior includes a front office, two restrooms, and a separate sink area.
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 feet on a 0.15‑acre lot; Open floor plan with front office, closet, and storage room; Two bathrooms and a separate sink area
