Three-Space Mixed-Use
New
For Sale
$850,000
3401 Central Avenue, Hot Springs, AR 71913
Commercial / Industrial, Hot Springs, AR
Property Size5,709 SF
Lot Size0.41 Acres
Price / SF$148.89
Days on Market2
Property Features for 3401 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Directions
From US-270 W take exit 5B towards Central Ave, Turn right onto Central Ave, property will be on the right.
Subdivision
HOT SPRINGS SCHOOL DISTRICT
Standard status
Active
Size
5,709 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
PT SE NE
Tax Annual Amount
4171
Legal Description
PT SE NE
Building Details
Year built
1972
Floors in Building
2
Listing Agency:
Crye*Leike Pro Elite Realty
(870) 293-1111
Listed By:
Falicia Samuels · License #SA00077591
(870) 210-0958
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 9:06PM
MLS# 26040638
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 5,709-square-foot mixed-use property, built in 1972, sits on a 0.41-acre corner lot and contains three rentable spaces. One space is leased; the other two are available. The featured corner unit has a two-story office configuration, large windows, and a modernized interior. Other spaces have updated flooring, paint, and finishes.
The property is at 3401 Central Avenue in Hot Springs, minutes from Oaklawn Racing Casino Resort and Downtown Hot Springs. Ample parking is available on site.
The property is at 3401 Central Avenue in Hot Springs, minutes from Oaklawn Racing Casino Resort and Downtown Hot Springs. Ample parking is available on site.
Key Highlights
- Three rentable spaces; one is currently leased
- 5,709 square feet on a 0.41‑acre corner lot
- Two‑story office unit with large windows and a modernized interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,574
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,480
$551.5K
Cap Rate 7%
$393,914
$393.9K
Cap Rate 9%
$306,378
$306.4K
Market Conditions
NOI Build-Up for 5,709 SF
Gross rent
$48.0K $8.40/SF
− Vacancy
−$3.8K −$0.67/SF
EGI
$44.1K $7.73/SF
− OpEx
−$16.5K −$2.90/SF
NOI
$27.6K $4.83/SF
Area
Garland County, AR
Vacancy
8.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,480
Cap Rate 7%
$393,914
Cap Rate 9%
$306,378
Alternative Uses
Best Use
Mixed Use
$393.9K
$344.7K – $459.6K
NOI $27,574 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
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.
Property Analytics
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Current Use
Lease Details
3
Office units
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - A corner-lot building combines a two-story office layout with additional rentable space.
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: Three rentable spaces; one is currently leased; 5,709 square feet on a 0.41‑acre corner lot; Two‑story office unit with large windows and a modernized interior
