Remodeled Shopping Center with Pylon
For Sale
$2,200,000
5401 CENTRAL, Hot Springs, AR 71913
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size17,248 SF
Lot Size1.38 Acres
Price / SF$127.55
Days on Market194
Property Features for 5401 CENTRAL
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NZN No Zoning
Zoning description
NZN No Zoning
Exterior features
Dumpster, Pole Sign
Subdivision
Lake Hamilton Ter
Directions
Central Ave south, across bridges to property on left. Southridge Plaza
Standard status
Active
Size
17,248 SF
Lot size
1.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Lots Pt 3-9 Lake Hamilton Subdivision 000/003, 36-03S-20W
Tax Annual Amount
10160
Legal Description
Lots Pt 3-9 Lake Hamilton Subdivision 000/003, 36-03S-20W
Building Details
Year built
2001
Floors in Building
1
Roof type
Metal
Listing Agency:
Hot Springs 1st Choice Realty
(501) 525-1600
Listed By:
Ivy Wood
(501) 617-3750
Added: Apr 11
Changed: Oct 8
Last Checked: Oct 21 at 7:06AM
MLS# 153072
Copyright © 2026 Hot Springs Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2001-built shopping center in Hot Springs contains 17248 square feet across 1.38 acres. The property includes 11 suites, with 10 currently leased, along with metal building construction, storefront ACM panels, stone exterior elements, and a pylon sign. Recent remodeling and new roofs contribute to the property’s updated physical profile.
Located at 5401 Central in Hot Springs, the center is zoned NZN No Zoning. Exterior features include a dumpster and pole sign. The property’s multi-suite configuration accommodates a range of established business occupants, with current tenancy represented across 10 suites.
Located at 5401 Central in Hot Springs, the center is zoned NZN No Zoning. Exterior features include a dumpster and pole sign. The property’s multi-suite configuration accommodates a range of established business occupants, with current tenancy represented across 10 suites.
Key Highlights
- 10 of 11 suites are leased
- 17248 square feet on 1.38 acres
- Recent remodeling and new roofs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,190
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,723,800
$2.7M
Cap Rate 7%
$1,945,571
$1.9M
Cap Rate 9%
$1,513,222
$1.5M
Market Conditions
NOI Build-Up for 17,248 SF
Gross rent
$207.0K $12.00/SF
− Vacancy
−$12.4K −$0.72/SF
EGI
$194.6K $11.28/SF
− OpEx
−$58.4K −$3.38/SF
NOI
$136.2K $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 Rate 5%
$2,723,800
Cap Rate 7%
$1,945,571
Cap Rate 9%
$1,513,222
Alternative Uses
Best Use
Retail
$1.95M
$1.70M – $2.27M
NOI $136,190 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,802 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
90.9%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
10k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Hotels & Casinos 16%
Dining 9%
Dollar General
Shops & Services
7,631 visits/mo
0.4 miles
Baymont By Wyndham Hot Springs On The Lake
Hotels & Casinos
1,661 visits/mo
0.3 miles
Simple Simon's Pizza
Dining
899 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-suite retail center with 10 of 11 suites leased and updated roofs.
Where is this shopping center located?
The property is located at 5401 CENTRAL Hot Springs, AR.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10 of 11 suites are leased; 17248 square feet on 1.38 acres; Recent remodeling and new roofs
