Flex Building with High
New
For Sale
$898,000
235 Massey Road, Hot Springs, AR 71913
COMMERCIAL - Hot Springs, AR
Property Size11,010 SF
Lot Size1.29 Acres
Price / SF$81.56
Days on Market1
Property Features for 235 Massey Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
30
Interior features
Inventory (see remarks), Burglar Alarm, Kitchen Area
Exterior features
Landscaping, Overhead Doors
Lot features
Level, Corner Lot, Out of City
Directions
Central Ave. South to Hwy 290, Left East on Hwy 290 approx .75 mile property on the right.
Subdivision
LAKESIDE SCHOOL DISTRICT
Standard status
Active
APN
100-16408-000
Size
11,010 SF
Lot size
1.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tax ID 92041
Tax Annual Amount
7115
Legal Description
Tax ID 92041
Amenities
observation lounge
Building Details
Year built
2022
Floors in Building
2
Flooring type
Concrete, Vinyl
Roof type
Metal
Additional Structures
See Remarks
Listing Agency:
CBRPM Hot Springs · Coldwell Banker Real Estate
(501) 525-7355
Listed By:
Todd Woerpel
(501) 622-8396
Added: Aug 6
Last Checked: Aug 6 at 9:06PM
MLS# 26032118
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 11,010-square-foot flex building was completed in 2022 and combines open-span space with multiple offices, four restrooms, and a second-floor observation lounge. The facility has high ceilings, a 10' x 10' drive-in overhead door, and full heating and cooling. Concrete and vinyl flooring, a kitchen area, burglar alarm, metal roofing, and landscaping are also included.
The property occupies 1.29 acres at 235 Massey Road in Hot Springs, Arkansas. More than 30 parking spaces are available, with additional room to expand. The configuration supports office, showroom, warehouse, shop, light manufacturing, fitness, or large meeting-space applications as identified in the property information.
The property occupies 1.29 acres at 235 Massey Road in Hot Springs, Arkansas. More than 30 parking spaces are available, with additional room to expand. The configuration supports office, showroom, warehouse, shop, light manufacturing, fitness, or large meeting-space applications as identified in the property information.
Key Highlights
- 11,010‑square‑foot flex building completed in 2022
- Open‑span layout with multiple offices and a second‑floor observation lounge
- 10' x 10' drive‑in overhead door
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
$67,358
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
7.50%
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%
$1,347,160
$1.3M
Cap Rate 7%
$962,257
$962.3K
Cap Rate 9%
$748,422
$748.4K
Market Conditions
NOI Build-Up for 11,010 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
$109.7K $9.96/SF
− Vacancy
−$6.0K −$0.55/SF
EGI
$103.6K $9.41/SF
− OpEx
−$36.3K −$3.29/SF
NOI
$67.4K $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%
$1,347,160
Cap Rate 7%
$962,257
Cap Rate 9%
$748,422
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,709 @ 7.0% cap · market cap 11.77%
Second Best
Flex RnD
$962.3K
$842.0K – $1.12M
NOI $67,358 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,946 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
33
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 Office 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?
Flex space - Recently built facility offering open-span space, offices, overhead access, and a second-floor observation lounge.
Where is this flex space located?
The property is located at 235 Massey Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: 11,010‑square‑foot flex building completed in 2022; Open‑span layout with multiple offices and a second‑floor observation lounge; 10' x 10' drive‑in overhead door
