Retail Center with Available
For Sale
Contact for pricing
2002-2038 Central Avenue, Hot Springs, AR 71901
Established retail center with a 5,608-square-foot suite and on-site parking for tenants and visitors.
Property Size33,325 SF
Price / SF$0.00
Days on Market49
Property Features for 2002-2038 Central Avenue
General Information
Standard status
Active
Size
33,325 SF
Property subtype
Commercial / Industrial
Listing Agency:
White Stone Real Estate
(501) 359-3009
Listed By:
Dane Thomson
(501) 494-1002
Source:
Arprorealty
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 9:06AM
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 White Stone Real Estate
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Investment Insights
Based on property information with market context.
Freeman Center is a 33,325-square-foot shopping center at 2002-2038 Central Avenue in Hot Springs, Arkansas. The property includes one available suite, Suite 2010, offering 5,608 square feet within the retail center. On-site parking serves both tenants and visitors.
The center is located minutes from Oaklawn, providing a nearby destination within the surrounding area. The property’s multi-suite retail format and available space support a range of commercial occupancy possibilities consistent with shopping center use.
The center is located minutes from Oaklawn, providing a nearby destination within the surrounding area. The property’s multi-suite retail format and available space support a range of commercial occupancy possibilities consistent with shopping center use.
Key Highlights
- 33,325‑square‑foot shopping center
- 5,608‑square‑foot Suite 2010 available
- On‑site parking for tenants and visitors
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 · market cap 4,385,566.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.09M
$5.33M – $7.11M
NOI $426,613 @ 7.0% cap · market cap 7,110,216.67%
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
Under-served
Demand for This Use
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
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center with a 5,608-square-foot suite and on-site parking for tenants and visitors.
Where is this shopping center located?
The property is located at 2002-2038 Central Avenue Hot Springs, AR.
What are key features of this property?
This property features: 33,325‑square‑foot shopping center; 5,608‑square‑foot Suite 2010 available; On‑site parking for tenants and visitors
