Retail Building with Parking
For Sale
$319,000
1429 Central Ave, Hot Springs, AR 71901
Retail building on a large commercial lot with ample parking, a nearly clear-span room, and central heat/air.
Property Size3,549 SF
Price / SF$89.88
Days on Market105
Property Features for 1429 Central Ave
General Information
Standard status
Active
Size
3,549 SF
Taxes and HOA fees
Annual Taxes
$2,417
Listing Agency:
Keller Williams Realty Hot Springs
(501) 681-2422
Listed By:
Jane Jolly
(501) 681-2422
Source:
Exprealty
Added: May 8
Changed: Aug 8
Last Checked: Aug 19 at 2:38PM
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 Keller Williams Realty Hot Springs
Investment Insights
Based on property information with market context.
This for-sale retail building is situated on a large commercial lot and includes a spacious interior with several versatile rooms. A nearly clear-span room sits just inside the welcoming foyer, supported by central heat/air throughout the building. The property also offers three bathrooms, including one full bath, along with laundry hookups (electric). Two original stone fireplaces are included, each with gas hookups, adding distinctive character to the space.
The asset is located on Central Avenue at 1429 Central Ave in Hot Springs, Arkansas. The property’s sizable lot provides ample parking, which can support customer access and day-to-day operations depending on the tenant’s use.
For buyers and tenants seeking a flexible retail-oriented building, the combination of multiple rooms and a large, nearly clear-span area can accommodate a range of service and showroom concepts. Central heating and air, multiple restrooms, and in-unit laundry hookups further support practical day-to-day use. The property’s on-site parking and gas fireplace infrastructure may be especially useful for businesses looking to create a comfortable, customer-friendly environment.
The asset is located on Central Avenue at 1429 Central Ave in Hot Springs, Arkansas. The property’s sizable lot provides ample parking, which can support customer access and day-to-day operations depending on the tenant’s use.
For buyers and tenants seeking a flexible retail-oriented building, the combination of multiple rooms and a large, nearly clear-span area can accommodate a range of service and showroom concepts. Central heating and air, multiple restrooms, and in-unit laundry hookups further support practical day-to-day use. The property’s on-site parking and gas fireplace infrastructure may be especially useful for businesses looking to create a comfortable, customer-friendly environment.
Key Highlights
- Nearly half‑acre commercial lot on Central Avenue with a spacious retail building and ample parking
- Large, nearly clear‑span room just inside the foyer plus several versatile additional rooms
- 3 bathrooms, including 1 full bathroom
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
$28,023
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
8.78%
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%
$560,460
$560.5K
Cap Rate 7%
$400,329
$400.3K
Cap Rate 9%
$311,367
$311.4K
Market Conditions
NOI Build-Up for 3,549 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
$42.6K $12.00/SF
− Vacancy
−$2.6K −$0.72/SF
EGI
$40.0K $11.28/SF
− OpEx
−$12.0K −$3.38/SF
NOI
$28.0K $7.90/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$560,460
Cap Rate 7%
$400,329
Cap Rate 9%
$311,367
Alternative Uses
Best Use
Retail
$400.3K
$350.3K – $467.1K
NOI $28,023 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$649.0K
$567.9K – $757.2K
NOI $45,433 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 44%
Beauty & Spa 5%
Burger King
Dining
9,887 visits/mo
0.4 miles
Waffle House
Dining
6,367 visits/mo
0.5 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.3 miles
Exxon
Shops & Services
5,087 visits/mo
0.3 miles
U.S. Bank
Shops & Services
3,980 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Elegant Gunk — Hot Springs, AR 71913
- Joe Sturgill & Company — 817 Prospect Ave, Hot Springs, AR 71901
- Hot Springs Florist Gifts & More Inc. — 2034 Central Ave, Hot Springs National Park, AR 71901
- Norman Florist & Greenhouses, Inc. — 620 Greenwood Ave, Hot Springs, AR 71913
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building on a large commercial lot with ample parking, a nearly clear-span room, and central heat/air.
Where is this storefront property located?
The property is located at 1429 Central Ave Hot Springs, AR.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Nearly half‑acre commercial lot on Central Avenue with a spacious retail building and ample parking; Large, nearly clear‑span room just inside the foyer plus several versatile additional rooms; 3 bathrooms, including 1 full bathroom
