Furnished Short-Term Rental
For Sale
$225,000
221 Hazel Street, Hot Springs, AR 71901
The permitted rental is furnished and carries General Commercial zoning, with potential for office use.
Property Size1,593 SF
Price / SF$141.24
Days on Market69
Property Features for 221 Hazel Street
General Information
Standard status
Active
Size
1,593 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
General Commercial
Additional Details
Furnished
Yes
Currently Operating
Yes
Amenities
Furnished
Kitchen Area
Living Area
Furniture Included
Wheelchair Accessible
Building Details
Building Size
1,593 SF
Year Built
1940
Buildings
2
Stories
2
Listing Agency:
White Stone Real Estate
(501) 359-3009
Listed By:
Tracey Wheelington · License #EB00046501
(501) 318-3464
Source:
Esqbrokers
Added: Aug 18
Changed: Oct 23
Last Checked: Oct 23 at 5:53PM
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.
This 1,593-SF property, built in 1940, includes a furnished main building configured with four bedrooms and two full bathrooms. It holds a permit for short-term rental use and could also be converted to office space. A separate building behind the main structure could be rehabilitated for use as a one-bedroom, one-bath short-term rental.
The property is at 221 Hazel Street in Hot Springs, approximately two minutes from the Garland County courthouse, three minutes from downtown Hot Springs, and less than five minutes from Oaklawn Racing and Casino. General Commercial zoning supports its stated rental and potential office configurations.
The property is at 221 Hazel Street in Hot Springs, approximately two minutes from the Garland County courthouse, three minutes from downtown Hot Springs, and less than five minutes from Oaklawn Racing and Casino. General Commercial zoning supports its stated rental and potential office configurations.
Key Highlights
- Permitted short‑term rental with furnished main building
- Main building has 4 bedrooms and 2 full baths
- 1,593 SF; built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,830
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,600
$196.6K
Cap Rate 7%
$140,429
$140.4K
Cap Rate 9%
$109,222
$109.2K
Market Conditions
NOI Build-Up for 1,593 SF
Gross rent
$19.1K $12.00/SF
− Vacancy
−$1.2K −$0.78/SF
EGI
$17.9K $11.22/SF
− OpEx
−$8.0K −$5.05/SF
NOI
$9.8K $6.17/SF
Area
Garland County, AR
Vacancy
6.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,600
Cap Rate 7%
$140,429
Cap Rate 9%
$109,222
Alternative Uses
Best Use
Apartment 5plus
$140.4K
$122.9K – $163.8K
NOI $9,830 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$291.3K
$254.9K – $339.9K
NOI $20,393 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - The permitted rental is furnished and carries General Commercial zoning, with potential for office use.
Where is this short term rental property located?
The property is located at 221 Hazel Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Permitted short‑term rental with furnished main building; Main building has 4 bedrooms and 2 full baths; 1,593 SF; built in 1940
