Furnished Short-Term Rental
New
For Sale
$225,000
221 Hazel Street, Hot Springs, AR 71901
Permitted short-term rental with General Commercial zoning and a furnished primary building suited to lodging or office use.
Property Size1,593 SF
Days on Market5
Property Features for 221 Hazel Street
General Information
Standard status
Active
Size
1,593 SF
Property subtype
Building and Land
Zoning
General Commercial
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$1,243
Building Details
Building Size
1,593 SF
Year Built
1940
Buildings
2
Listing Agency:
White Stone Real Estate
(501) 318-3464
Listed By:
Tracey Wheelington
(501) 318-3464
Source:
Whitestonearkansas
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 22 at 11:45AM
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
Investment Insights
Based on property information with market context.
Built in 1940, this General Commercial-zoned property is configured as a permitted short-term rental. The furnished primary building contains 4 bedrooms and 2 full bathrooms, with a layout that can also support office use. A separate rear building provides additional space and is identified for potential rehabilitation as a 1-bedroom, 1-bath short-term rental.
The property is 2 minutes from the Garland Co courthouse, 3 minutes from downtown Hot Springs, and less than 5 minutes from Oaklawn Racing and Casino. Its existing permit, furnishings, and two-building configuration support both current lodging use and the additional use possibilities described for the site.
The asset combines an operating short-term-rental setup with General Commercial zoning and a secondary structure that may be repositioned subject to applicable approvals and rehabilitation requirements.
The property is 2 minutes from the Garland Co courthouse, 3 minutes from downtown Hot Springs, and less than 5 minutes from Oaklawn Racing and Casino. Its existing permit, furnishings, and two-building configuration support both current lodging use and the additional use possibilities described for the site.
The asset combines an operating short-term-rental setup with General Commercial zoning and a secondary structure that may be repositioned subject to applicable approvals and rehabilitation requirements.
Key Highlights
- Permitted short‑term rental with existing furnishings
- Primary building includes 4 bedrooms and 2 full bathrooms
- Separate rear building offers potential for a 1‑bedroom, 1‑bath STR
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Permitted short-term rental with General Commercial zoning and a furnished primary building suited to lodging or 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 existing furnishings; Primary building includes 4 bedrooms and 2 full bathrooms; Separate rear building offers potential for a 1‑bedroom, 1‑bath STR
