Flex Office and Warehouse
For Sale
$695,000
2208 Airport Rd, Hot Springs, AR 71913
Property includes office space with reception and a warehouse shop with four overhead doors.
Property Size5,846 SF
Lot Size1.70 Acres
Price / SF$118.88
Days on Market235
Property Features for 2208 Airport Rd
General Information
Standard status
Active
Size
5,846 SF
Lot size
1.70 Acres
Site & Location
Traffic Count
22,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,300
Listing Agency:
Lake Hamilton Realty, Inc.
(501) 525-1466
Listed By:
Jerry Cochran · License #SA00089850
(501) 282-1500
Source:
Exprealty
Added: Jan 16
Changed: Sep 6
Last Checked: Sep 7 at 2:35PM
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 Lake Hamilton Realty, Inc.
Investment Insights
Based on property information with market context.
The property offers a combination office and warehouse layout on 1.7 acres. It includes 1,656 square feet with four offices and a reception area. The warehouse shop totals 4,200 square feet and is served by four overhead doors, along with a bathroom.
The site has 255 feet of frontage on Airport Rd, with stated traffic of over 22,000 vehicles per day.
Overall, the configuration supports both back-of-house warehouse operations and front-office use within the same building footprint.
The site has 255 feet of frontage on Airport Rd, with stated traffic of over 22,000 vehicles per day.
Overall, the configuration supports both back-of-house warehouse operations and front-office use within the same building footprint.
Key Highlights
- 1.7‑acre property with 1,656 SF office space including 4 offices and a reception area
- 4,200 SF warehouse shop with 4 overhead doors and a bathroom
- 255’ frontage on Airport Rd with traffic count reported over 22,000 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
$35,765
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
5.15%
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%
$715,300
$715.3K
Cap Rate 7%
$510,929
$510.9K
Cap Rate 9%
$397,389
$397.4K
Market Conditions
NOI Build-Up for 5,846 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
$58.2K $9.96/SF
− Vacancy
−$3.2K −$0.55/SF
EGI
$55.0K $9.41/SF
− OpEx
−$19.3K −$3.29/SF
NOI
$35.8K $6.12/SF
Area
Garland County, AR
Vacancy
5.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$715,300
Cap Rate 7%
$510,929
Cap Rate 9%
$397,389
Alternative Uses
Best Use
Flex RnD
$510.9K
$447.1K – $596.1K
NOI $35,765 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$324.4K
$283.8K – $378.5K
NOI $22,707 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.07M
$935.5K – $1.25M
NOI $74,838 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Property includes office space with reception and a warehouse shop with four overhead doors.
Where is this flex space located?
The property is located at 2208 Airport Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1.7‑acre property with 1,656 SF office space including 4 offices and a reception area; 4,200 SF warehouse shop with 4 overhead doors and a bathroom; 255’ frontage on Airport Rd with traffic count reported over 22,000 vehicles per day
