Versatile Commercial Building with
For Sale
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222 Castleberry St, Hot Springs, AR 71901
18,700 sq ft commercial building with multiple loading options.
Property Size18,700 SF
Price / SF$40.91
Days on Market155
Property Features for 222 Castleberry St
General Information
Standard status
Active
Size
18,700 SF
Property subtype
Retail, Office, Industrial, Mixed Use
Building Details
Year Built
1960
Stories
1
Listing Agency:
Trademark Real Estate, Inc
(501) 282-0543
Listed By:
George A. Dooley · License #AR
Source:
Crexi
Added: Mar 19
Changed: Aug 14
Last Checked: Aug 19 at 7:44AM
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 Trademark Real Estate, Inc
Investment Insights
Based on property information with market context.
This 18,700 sq ft commercial building is designed for efficiency and flexibility. It features multiple loading options, including one large roll-up door that measures 14 feet tall by 12 feet wide with a loading dock, an additional dock door measuring 8 feet by 10 feet, and two side-by-side dock doors each measuring 10 feet by 10 feet. Covered loading docks facilitate year-round operations. The property is equipped with 220 Three Phase electric power. A fenced-in circle drive is ideal for accommodating large trucks and ensuring smooth traffic flow. The interior features tall ceilings and a forklift-ready layout. A 16 ft x 34 ft walk-in cooler is present, along with dedicated office spaces and showroom areas. The property is suitable for manufacturing, distribution, cold storage, or mixed-use commercial applications.
Key Highlights
- 18,700 sq ft commercial building suitable for manufacturing, distribution, cold storage, or mixed‑use.
- Multiple loading options: one large roll‑up door (14’ x 12’) with loading dock, an additional dock door, plus two side‑by‑side dock doors.
- Covered loading docks** for year‑round operations.
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
$59,816
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
7.82%
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%
$1,196,320
$1.2M
Cap Rate 7%
$854,514
$854.5K
Cap Rate 9%
$664,622
$664.6K
Market Conditions
NOI Build-Up for 18,700 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
$89.8K $4.80/SF
− Vacancy
−$4.3K −$0.23/SF
EGI
$85.5K $4.57/SF
− OpEx
−$25.6K −$1.37/SF
NOI
$59.8K $3.20/SF
Area
Garland County, AR
Vacancy
4.80%
Lease Rate
$4.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,196,320
Cap Rate 7%
$854,514
Cap Rate 9%
$664,622
Alternative Uses
Best Use
Flex RnD
$1.63M
$1.43M – $1.91M
NOI $114,405 @ 7.0% cap · market cap 14.95%
Second Best
Industrial
$854.5K
$747.7K – $996.9K
NOI $59,816 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,390 @ 7.0% cap · market cap 31.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - 18,700 sq ft commercial building with multiple loading options.
Where is this flex space located?
The property is located at 222 Castleberry St Hot Springs, AR.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 18,700 sq ft commercial building suitable for manufacturing, distribution, cold storage, or mixed‑use.; Multiple loading options: **one large roll‑up door (14’ x 12’) with loading dock**, an additional dock door, plus two side‑by‑side dock doors.; Covered loading docks** for year‑round operations.
