Office Building with Monument
For Sale
$325,000
1501 Airport Rd, Hot Springs, AR 71913
Well-maintained office property with private rooms, client reception space, and an electronic roadside message banner.
Property Size1,581 SF
Price / SF$205.57
Days on Market188
Property Features for 1501 Airport Rd
General Information
Standard status
Active
Size
1,581 SF
Total Parking Spaces
4
Additional Details
Furnished
No
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,378
Listing Agency:
McGraw Realtors
(479) 747-5992
Listed By:
Lecie Capshaw
(479) 747-5992
Source:
Exprealty
Added: Feb 13
Changed: Aug 19
Last Checked: Aug 19 at 12:01PM
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 McGraw Realtors
Investment Insights
Based on property information with market context.
This 1,581-square-foot office building at 1501 Airport Rd in Hot Springs, AR, provides a practical layout for professional office operations. The interior includes three private offices, a conference room, reception area, rear administrative and storage space, one bathroom, and original wood flooring across much of the building. One office is carpeted. The property is offered with four on-site parking spaces, while office equipment and furnishings are excluded but negotiable.
Positioned along busy five-lane Airport Road, the property benefits from reported traffic counts of 30, 000–40, 000 vehicles per day. A roadside monument sign with an electronic message banner provides on-site advertising capability and reinforces the building’s roadside presence. The existing configuration previously served as a law office and offers an established framework for professional office use.
Positioned along busy five-lane Airport Road, the property benefits from reported traffic counts of 30, 000–40, 000 vehicles per day. A roadside monument sign with an electronic message banner provides on-site advertising capability and reinforces the building’s roadside presence. The existing configuration previously served as a law office and offers an established framework for professional office use.
Key Highlights
- 1,581 SF office building at 1501 Airport Rd, Hot Springs, AR
- Three private offices, conference room, reception area, and rear administrative/storage space
- Located on busy five‑lane Airport Road with estimated traffic counts of 30, 000–40, 000 vehicles per day
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
$15,179
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
4.67%
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%
$303,580
$303.6K
Cap Rate 7%
$216,843
$216.8K
Cap Rate 9%
$168,656
$168.7K
Market Conditions
NOI Build-Up for 1,581 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
$22.8K $14.40/SF
− Vacancy
−$2.5K −$1.60/SF
EGI
$20.2K $12.80/SF
− OpEx
−$5.1K −$3.20/SF
NOI
$15.2K $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%
$303,580
Cap Rate 7%
$216,843
Cap Rate 9%
$168,656
Alternative Uses
Best Use
Office B
$216.8K
$189.7K – $253.0K
NOI $15,179 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$289.1K
$253.0K – $337.3K
NOI $20,239 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
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 - Well-maintained office property with private rooms, client reception space, and an electronic roadside message banner.
Where is this office building located?
The property is located at 1501 Airport Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,581 SF office building at 1501 Airport Rd, Hot Springs, AR; Three private offices, conference room, reception area, and rear administrative/storage space; Located on busy five‑lane Airport Road with estimated traffic counts of 30, 000–40, 000 vehicles per day
