Office Building Near
For Sale
$125,000
229 Woodbine, Hot Springs, AR 71901
Established commercial space suited to professional practices, advisory firms, and other client-oriented office uses.
Property Size1,160 SF
Price / SF$107.76
Days on Market37
Property Features for 229 Woodbine
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Commercial / Industrial
Listing Agency:
Trademark Real Estate, Inc.
(501) 622-9878
Listed By:
Debbie Mills
(501) 622-9878
Source:
Heilesassociatesrealtors
Added: Jul 28
Changed: Aug 29
Last Checked: Sep 2 at 2:41AM
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 Trademark Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 1,160-square-foot office building dates to 1940 and offers an established setting for professional business operations. The property can accommodate a range of office applications, including attorney, insurance, accounting, and tax practices, as well as other professional services.
Located at 229 Woodbine in Hot Springs, the building is positioned very close to the courthouse, providing convenient access for clients and businesses that regularly conduct courthouse-related work. Its existing commercial format supports both a new office setup and relocation of an established practice.
Located at 229 Woodbine in Hot Springs, the building is positioned very close to the courthouse, providing convenient access for clients and businesses that regularly conduct courthouse-related work. Its existing commercial format supports both a new office setup and relocation of an established practice.
Key Highlights
- 1,160‑square‑foot office building
- Built in 1940
- Very close to the courthouse
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
$11,137
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
8.91%
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%
$222,740
$222.7K
Cap Rate 7%
$159,100
$159.1K
Cap Rate 9%
$123,744
$123.7K
Market Conditions
NOI Build-Up for 1,160 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
$16.7K $14.40/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$14.8K $12.80/SF
− OpEx
−$3.7K −$3.20/SF
NOI
$11.1K $9.60/SF
Area
Garland County, AR
Vacancy
11.10%
Lease Rate
$14.40 /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%
$222,740
Cap Rate 7%
$159,100
Cap Rate 9%
$123,744
Alternative Uses
Best Use
Office B
$159.1K
$139.2K – $185.6K
NOI $11,137 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$212.1K
$185.6K – $247.5K
NOI $14,850 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,623
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Established commercial space suited to professional practices, advisory firms, and other client-oriented office uses.
Where is this office building located?
The property is located at 229 Woodbine Hot Springs, AR.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1,160‑square‑foot office building; Built in 1940; Very close to the courthouse
