Retail Suite at Freeman
2002-2038 Central Avenue, Hot Springs, AR 71901
For Sale
Contact for pricing
Commercial / Industrial, Hot Springs, AR
Property Size33,325 SF
Lot Size1.45 Acres
Price / SF$0.00
Days on Market506
Property Features for 2002-2038 Central Avenue
General Information
Property type
Property subtype
Parking
Directions
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Listing Agency:
White Stone Real Estate
(501) 359-3009
Listed By:
Dane Thomson
(501) 494-1002
Added: Jun 23, 2025
Changed: Oct 5
Last Checked: Nov 10 at 9:06PM
MLS# 25025172
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Freeman Center is a retail property at 2002–2038 Central Avenue in Hot Springs. Suite 2010 offers 5,608 square feet within the 33,325-square-foot center, which was built in 1950. The property occupies 1.45 acres.
On-site pull-in parking is available for tenants and visitors. Oaklawn is described as minutes away.
On-site pull-in parking is available for tenants and visitors. Oaklawn is described as minutes away.
Key Highlights
- Suite 2010 offers 5,608 square feet
- 33,325‑square‑foot retail center built in 1950
- 1.45‑acre property at 2002–2038 Central Avenue, Hot Springs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$263,134
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,262,680
$5.3M
Cap Rate 7%
$3,759,057
$3.8M
Cap Rate 9%
$2,923,711
$2.9M
Market Conditions
NOI Build-Up for 33,325 SF
Gross rent
$399.9K $12.00/SF
− Vacancy
−$24.0K −$0.72/SF
EGI
$375.9K $11.28/SF
− OpEx
−$112.8K −$3.38/SF
NOI
$263.1K $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 Rate 5%
$5,262,680
Cap Rate 7%
$3,759,057
Cap Rate 9%
$2,923,711
Alternative Uses
Best Use
Retail
$3.76M
$3.29M – $4.39M
NOI $263,134 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.09M
$5.33M – $7.11M
NOI $426,613 @ 7.0% cap
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
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Hotels & Casinos 27%
Shops & Services 4%
Waffle House
Dining
6,367 visits/mo
0.1 miles
Best Western Winners Circle
Hotels & Casinos
2,697 visits/mo
0.5 miles
Sam's Southern Eatery
Dining
1,726 visits/mo
0.1 miles
Liberty Tax
Shops & Services
413 visits/mo
0.2 miles
Days Inn Hot Springs
Hotels & Casinos
387 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
$173,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in Hot Springs, AR
Properties on Market for Retail space in Hot Springs
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The available space is within a retail center with on-site parking for tenants and visitors.
Where is this retail space located?
The property is located at 2002-2038 Central Avenue Hot Springs, AR.
What are key features of this property?
This property features: Suite 2010 offers 5,608 square feet; 33,325‑square‑foot retail center built in 1950; 1.45‑acre property at 2002–2038 Central Avenue, Hot Springs
