Furnished Short-Term Rental
New
For Sale
$225,000
221 Hazel Street, Hot Springs, AR 71901
COMMERCIAL - Hot Springs, AR
Property Size1,593 SF
Lot Size0.15 Acres
Price / SF$141.24
Days on Market3
Property Features for 221 Hazel Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Parking
2
Interior features
Furnished, Kitchen Area, Living Area, Furniture Included
Exterior features
Wheelchair Accessible
Accessibility
Accessible Approach with Ramp
Subdivision
Whittington
Lot features
Level, In Subdivision, City Lot
Directions
From Central Ave, turn west on Grand Ave.to right on Hazel Street (property is on left)
Standard status
Active
Size
1,593 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Part of Lot 1 of Whittington
Tax Annual Amount
1243
Legal Description
Part of Lot 1 of Whittington
Building Details
Year built
1940
Floors in Building
2
Flooring type
Vinyl, Tile
Roof type
Composition
Listing Agency:
White Stone Real Estate
(501) 359-3009
Listed By:
Tracey Wheelington
(501) 318-3464
Added: Aug 18
Last Checked: Aug 20 at 8:06AM
MLS# 26033767
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.
Investment Insights
Based on property information with market context.
This 1,593-square-foot short-term rental property sits on 0.15 acres and was built in 1940. The furnished primary building includes four bedrooms, two full bathrooms, a kitchen area, and living space, with vinyl and tile flooring throughout. Furniture is included, and the property has an accessible approach with a ramp.
A detached rear structure provides additional space for rehabilitation into a one-bedroom, one-bath short-term rental. The property carries General Commercial zoning and has also been identified as suitable for conversion of the main building to office use. Its location is approximately 2 minutes from the Garland County courthouse, 3 minutes from downtown Hot Springs, and less than 5 minutes from Oaklawn Racing and Casino.
A detached rear structure provides additional space for rehabilitation into a one-bedroom, one-bath short-term rental. The property carries General Commercial zoning and has also been identified as suitable for conversion of the main building to office use. Its location is approximately 2 minutes from the Garland County courthouse, 3 minutes from downtown Hot Springs, and less than 5 minutes from Oaklawn Racing and Casino.
Key Highlights
- Permitted short‑term rental with a furnished 1,593‑square‑foot primary building
- Primary building includes 4 bedrooms and 2 full bathrooms
- Detached rear building offers potential for a 1‑bedroom, 1‑bath short‑term rental
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
$9,830
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
4.37%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Permitted short-term rental with furnished interiors and a separate rear building.
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 a furnished 1,593‑square‑foot primary building; Primary building includes 4 bedrooms and 2 full bathrooms; Detached rear building offers potential for a 1‑bedroom, 1‑bath short‑term rental
