Mixed-Use Property with
For Sale
$299,000
6507 Central Ave, Hot Springs, AR 71913
Level lots, security fencing, and an existing double-wide support combined residential and commercial use.
Property Size1,976 SF
Price / SF$151.32
Days on Market66
Property Features for 6507 Central Ave
General Information
Standard status
Active
Size
1,976 SF
Site & Location
Road Access
Yes
Fenced Yard
Yes
Land
Topography
level
Land Use
mixed-use, commercial, residential
Taxes and HOA fees
Annual Taxes
$1,310
Amenities
en-suite bath with double vanity, separate shower & walk in garden tub
open concept floor plan
walk in pantry
island breakfast bar
oven, microwave and new refrigerator
security fencing
Listing Agency:
South Park Realty
(501) 525-2243
Listed By:
Anna Rhoden · License #SA00080573
(501) 802-4453
Source:
Exprealty
Added: Jul 16
Changed: Sep 19
Last Checked: Sep 19 at 2:14PM
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 South Park Realty
Investment Insights
Based on property information with market context.
This mixed-use property at 6507 Central Ave includes an existing double-wide residence with an open-concept family room, dining area, and kitchen. The home features an en-suite bath with double vanity, separate shower, walk-in garden tub, walk-in pantry, island breakfast bar, oven, microwave, and new refrigerator. Completed dirt work, level lots, and security fencing are already in place.
The property has frontage on Central Ave and includes access to a nearby shop/red barn. Its existing improvements support residential, commercial, and storage-related use, with the layout identified for possibilities including RV and boat storage, contractor operations, retail, or future commercial development.
The property has frontage on Central Ave and includes access to a nearby shop/red barn. Its existing improvements support residential, commercial, and storage-related use, with the layout identified for possibilities including RV and boat storage, contractor operations, retail, or future commercial development.
Key Highlights
- Frontage on Central Ave with highly visible positioning
- Completed dirt work and level lots
- Security fencing already installed
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
$18,972
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
6.35%
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%
$379,440
$379.4K
Cap Rate 7%
$271,029
$271.0K
Cap Rate 9%
$210,800
$210.8K
Market Conditions
NOI Build-Up for 1,976 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
$28.5K $14.40/SF
− Vacancy
−$3.2K −$1.60/SF
EGI
$25.3K $12.80/SF
− OpEx
−$6.3K −$3.20/SF
NOI
$19.0K $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 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%
$379,440
Cap Rate 7%
$271,029
Cap Rate 9%
$210,800
Alternative Uses
Best Use
Office B
$271.0K
$237.2K – $316.2K
NOI $18,972 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$222.9K
$195.0K – $260.0K
NOI $15,602 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$361.4K
$316.2K – $421.6K
NOI $25,296 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
22
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Level lots, security fencing, and an existing double-wide support combined residential and commercial use.
Where is this mixed-use property located?
The property is located at 6507 Central Ave Hot Springs, AR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Frontage on Central Ave with highly visible positioning; Completed dirt work and level lots; Security fencing already installed
