Historic Downtown Storefront
For Sale
$675,000
318 CENTRAL Avenue, Hot Springs, AR 71901
Storefront building directly across from Hot Springs National Park with Opportunity Zone location and versatile commercial space.
Property Size3,348 SF
Price / SF$201.61
Days on Market184
Property Features for 318 CENTRAL Avenue
General Information
Standard status
Active
Size
3,348 SF
Property subtype
Commercial Building
Additional Details
Opportunity Zone
Yes
Taxes and HOA fees
Annual Taxes
$1,460
Building Details
Building Size
3,348 SF
Year Built
1920
Listing Agency:
Urban Living and Development INC
(501) 352-7670
Listed By:
Amber Henson · License #PB00075323
(501) 352-7670
Source:
Whitestonearkansas
Added: Feb 9
Changed: Aug 11
Last Checked: Aug 11 at 12:31PM
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 Urban Living and Development INC
Investment Insights
Based on property information with market context.
Historic downtown storefront building built in 1920, offering approximately 3,348 SF of versatile commercial space. The property is positioned for a strong street-facing experience with central avenue frontage and views described as extending toward Bathhouse Row and The Arlington.
The building is directly across from Hot Springs National Park, placing it among premier shops, dining, and entertainment with heavy foot traffic in the immediate area. Same family ownership since 1901.
Located in the Opportunity Zone, the property may qualify for State, Federal, and Historic Tax Credits, subject to applicable requirements.
The building is directly across from Hot Springs National Park, placing it among premier shops, dining, and entertainment with heavy foot traffic in the immediate area. Same family ownership since 1901.
Located in the Opportunity Zone, the property may qualify for State, Federal, and Historic Tax Credits, subject to applicable requirements.
Key Highlights
- Directly across from Hot Springs National Park
- Approximately 3,348 SF of versatile commercial space
- Central Avenue frontage
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
$26,436
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
3.92%
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%
$528,720
$528.7K
Cap Rate 7%
$377,657
$377.7K
Cap Rate 9%
$293,733
$293.7K
Market Conditions
NOI Build-Up for 3,348 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
$40.2K $12.00/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$37.8K $11.28/SF
− OpEx
−$11.3K −$3.38/SF
NOI
$26.4K $7.90/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$12.00 /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%
$528,720
Cap Rate 7%
$377,657
Cap Rate 9%
$293,733
Alternative Uses
Best Use
Retail
$377.7K
$330.5K – $440.6K
NOI $26,436 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.3K
$535.8K – $714.3K
NOI $42,860 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
62k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 32%
Beauty & Spa 3%
Electronics 2%
McDonald's
Dining
18,055 visits/mo
0.4 miles
Burger King
Dining
9,887 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
7,854 visits/mo
0.3 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,119 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Joe Sturgill & Company — 817 Prospect Ave, Hot Springs, AR 71901
Frequently Asked Questions
What type of property is this?
Storefront property - Storefront building directly across from Hot Springs National Park with Opportunity Zone location and versatile commercial space.
Where is this storefront property located?
The property is located at 318 CENTRAL Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Directly across from Hot Springs National Park; Approximately 3,348 SF of versatile commercial space; Central Avenue frontage
