Office Building with Hardwood
New
For Sale
$325,000
214 HOBSON Avenue, Hot Springs, AR 71901
Central office property with private rooms, a kitchenette, bathrooms, and a rear deck.
Property Size2,426 SF
Days on Market7
Property Features for 214 HOBSON Avenue
General Information
Standard status
Active
Size
2,426 SF
Property subtype
Building and Land
Taxes and HOA fees
Annual Taxes
$2,149
Amenities
foyer
hardwood floors
private office spaces
half bath
full bathroom
kitchenette
back deck
Building Details
Building Size
2,426 SF
Year Built
1930
Listing Agency:
The Goff Group Real Estate
Listed By:
Macy Muncrief
(501) 538-5331
Source:
Whitestonearkansas
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 2 at 9:08PM
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 The Goff Group Real Estate
Investment Insights
Based on property information with market context.
This office building, constructed in 1930, is currently configured for professional office use. The interior includes an open foyer, hardwood flooring, several private offices, one half bathroom, one full bathroom, and a kitchenette. A rear deck extends the usable space beyond the main interior.
The property is located at 214 HOBSON Avenue in Hot Springs, near Oaklawn Racing Casino Resort and minutes from downtown. A large on-site parking lot supports client, customer, and employee access. The existing layout also accommodates a range of office and service-oriented commercial configurations, subject to applicable requirements.
The property is located at 214 HOBSON Avenue in Hot Springs, near Oaklawn Racing Casino Resort and minutes from downtown. A large on-site parking lot supports client, customer, and employee access. The existing layout also accommodates a range of office and service-oriented commercial configurations, subject to applicable requirements.
Key Highlights
- Office building at 214 HOBSON Avenue, Hot Springs, AR 71901
- Constructed in 1930
- Open foyer with hardwood flooring and multiple private offices
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
$23,293
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
7.17%
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%
$465,860
$465.9K
Cap Rate 7%
$332,757
$332.8K
Cap Rate 9%
$258,811
$258.8K
Market Conditions
NOI Build-Up for 2,426 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
$34.9K $14.40/SF
− Vacancy
−$3.9K −$1.60/SF
EGI
$31.1K $12.80/SF
− OpEx
−$7.8K −$3.20/SF
NOI
$23.3K $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%
$465,860
Cap Rate 7%
$332,757
Cap Rate 9%
$258,811
Alternative Uses
Best Use
Office B
$332.8K
$291.2K – $388.2K
NOI $23,293 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.7K
$388.2K – $517.6K
NOI $31,057 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Central office property with private rooms, a kitchenette, bathrooms, and a rear deck.
Where is this office building located?
The property is located at 214 HOBSON Avenue 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: Office building at 214 HOBSON Avenue, Hot Springs, AR 71901; Constructed in 1930; Open foyer with hardwood flooring and multiple private offices
