Residential Income Property with Large
For Sale
$335,000
540 Ouachita Avenue, Hot Springs, AR 71901
Historic income property features high ceilings and large windows, eligible for short-term rental use.
Days on Market40
Property Features for 540 Ouachita Avenue
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Building Size
3,171 SF
Year Built
1920
Listing Agency:
Trademark Real Estate, Inc.
(501) 844-5949
Listed By:
Kim Walker
(501) 844-5949
Source:
Proeliterealty
Added: Jun 22
Changed: Jul 26
Last Checked: Jul 30 at 1:03PM
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 residential income property offers a solid, dependable structure with historical character. Inside, high ceilings help create a more open feel, while large windows bring in natural light. The building is described as having the flexibility to be recreated into a new concept, and it is noted as eligible to be permitted for short-term rental use, subject to the applicable permitting process.
Located in Hot Springs, the property is positioned in the heart of the area’s historical commercial district at 540 Ouachita Avenue (Hot Springs, AR 71901). The opportunity centers on combining the building’s distinctive historic appeal with a potential short-term rental option, giving a buyer room to plan the future use of the space.
Located in Hot Springs, the property is positioned in the heart of the area’s historical commercial district at 540 Ouachita Avenue (Hot Springs, AR 71901). The opportunity centers on combining the building’s distinctive historic appeal with a potential short-term rental option, giving a buyer room to plan the future use of the space.
Key Highlights
- Historic Hot Springs commercial property built in 1920
- High ceilings and large windows for abundant natural light
- Eligible to be permitted for short‑term rental use
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.1k | $12.00 |
| − Vacancy | −$2.5k | −$0.78 |
| EGI | $35.6k | $11.22 |
| − OpEx | −$16.0k | −$5.05 |
| NOI | $19.6k | $6.17 |
3,171 SF · lease $12.00/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$279.5K
$244.6K – $326.1K
NOI $19,568 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.9K
$507.4K – $676.6K
NOI $40,594 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Historic income property features high ceilings and large windows, eligible for short-term rental use.
Where is this short term rental property located?
The property is located at 540 Ouachita Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Historic Hot Springs commercial property built in 1920; High ceilings and large windows for abundant natural light; Eligible to be permitted for short‑term rental use
