Office Building with Monument
For Sale
Under Contract
$325,000
1501 Airport Rd, Hot Springs, AR 71913
Commercial / Industrial, Traditional, Hot Springs, AR
Property Size1,581 SF
Lot Size0.23 Acres
Price / SF$205.57
Days on Market233
Property Features for 1501 Airport Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
4
Interior features
Public Restrooms
Subdivision
Cains Hwy 70 West
Lot features
In Subdivision, Out of City
Directions
Head southeast on Orange St toward Convention Blvd.Turn right onto Convention Blvd.Turn left onto Central Ave/US-70 Continue on US-70 Business (Grand Avenue) westbound to right onto Albert Pike to left onto Airport Rd. to 1501 on left.
Standard status
Active Under Contract
APN
200-07800-007-000
Size
1,581 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
15-03S-20SW PT LOTS 14&15
Tax Annual Amount
1378
Legal Description
15-03S-20SW PT LOTS 14&15
Building Details
Year built
1953
Floors in Building
1
Flooring type
Wood, Carpet - Partial
Roof type
Composition
Architectural style
Other
Listing Agency:
McGraw Realtors - HSV
(501) 922-0707
Listed By:
Lecie Capshaw
(479) 747-5992
Added: Feb 13
Changed: Sep 12
Last Checked: Oct 4 at 11:06PM
MLS# 26005630
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.
Investment Insights
Based on property information with market context.
This 1,581-square-foot office building at 1501 Airport Rd includes three private offices, a conference room, reception space, rear administrative and storage areas, and one bathroom. Wood flooring extends through much of the interior, complemented by carpeting in one office. Constructed in 1953, the property has a composition roof and public restrooms.
The building fronts five-lane Airport Road in Hot Springs, with estimated daily traffic of 30,000–40,000 vehicles. Four on-site parking spaces serve visitors and staff. A roadside monument sign with an electronic message banner is included, providing a dedicated platform for changing property or business messaging.
The building fronts five-lane Airport Road in Hot Springs, with estimated daily traffic of 30,000–40,000 vehicles. Four on-site parking spaces serve visitors and staff. A roadside monument sign with an electronic message banner is included, providing a dedicated platform for changing property or business messaging.
Key Highlights
- 1,581‑square‑foot office building on 0.23 acres
- Three private offices, conference room, reception area, and rear administrative/storage space
- Monument sign with electronic message banner
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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Functional office layout with wood flooring, private rooms, and on-site client parking.
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‑square‑foot office building on 0.23 acres; Three private offices, conference room, reception area, and rear administrative/storage space; Monument sign with electronic message banner
