Three-Space Mixed-Use
New
For Sale
$850,000
3401 Central Avenue, Hot Springs, AR 71913
One rentable space is leased, while the other two are ready for occupancy.
Property Size5,709 SF
Price / SF$148.89
Days on Market3
Property Features for 3401 Central Avenue
General Information
Standard status
Active
Size
5,709 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Tenant in Place
Yes
Building Details
Building Size
5,709 SF
Year Built
1972
Tenancy
Multi
Listing Agency:
Crye*leike Pro Elite Realty
Listed By:
Falicia Samuels · License #SA00077591
(870) 210-0958
Source:
Diamondcountryrealty
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 23 at 5:14PM
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 Crye*leike Pro Elite Realty
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Investment Insights
Based on property information with market context.
The 5,709-square-foot mixed-use property, built in 1972, contains three rentable spaces. One is leased, and two are available for occupancy. A corner space has a two-level office arrangement with large windows and updated interior finishes. Other improvements include refreshed flooring and paint.
At 3401 Central Avenue in Hot Springs, the property is near Oaklawn Racing Casino Resort and Downtown Hot Springs. On-site parking is also available.
At 3401 Central Avenue in Hot Springs, the property is near Oaklawn Racing Casino Resort and Downtown Hot Springs. On-site parking is also available.
Key Highlights
- 5,709 square feet across three rentable spaces
- One space is leased; two are available for occupancy
- Two‑story office layout in the corner unit, with large windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,813
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,096,260
$1.1M
Cap Rate 7%
$783,043
$783.0K
Cap Rate 9%
$609,033
$609.0K
Market Conditions
NOI Build-Up for 5,709 SF
Gross rent
$82.2K $14.40/SF
− Vacancy
−$9.1K −$1.60/SF
EGI
$73.1K $12.80/SF
− OpEx
−$18.3K −$3.20/SF
NOI
$54.8K $9.60/SF
Area
Garland County, AR
Vacancy
11.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,096,260
Cap Rate 7%
$783,043
Cap Rate 9%
$609,033
Alternative Uses
Best Use
Office B
$783.0K
$685.2K – $913.6K
NOI $54,813 @ 7.0% cap · market cap 6.45%
Second Best
Mixed Use
$393.9K
$344.7K – $459.6K
NOI $27,574 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.04M
$913.6K – $1.22M
NOI $73,084 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - One rentable space is leased, while the other two are ready for occupancy.
Where is this mixed-use property located?
The property is located at 3401 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 5,709 square feet across three rentable spaces; One space is leased; two are available for occupancy; Two‑story office layout in the corner unit, with large windows
