Live-Work Property with
For Sale
$299,000
6507 CENTRAL Avenue, Hot Springs, AR 71913
COMMERCIAL - Hot Springs, AR
Property Size1,976 SF
Price / SF$151.32
Days on Market39
Property Features for 6507 CENTRAL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-G General Comm District
Zoning description
C-G General Comm District, R-S Res Sub District
Subdivision
Harmony Hills
Directions
From HSBOR, turn out of the parking lot right on Orange then Right onto Central, go to 6706 Central Ave on left
Standard status
Active
Size
1,976 SF
Taxes and HOA fees
Tax Description
Lots 108 & 110 Harmony Hills Subdivision, Section 14, Township 4 S, Range 20 West Hot Springs County
Tax Annual Amount
1310
Legal Description
Lots 108 & 110 Harmony Hills Subdivision, Section 14, Township 4 S, Range 20 West Hot Springs County
Building Details
Year built
2007
Listing Agency:
South Park Realty
(501) 525-2243
Listed By:
Anna Rhoden · License #SA00080573
(501) 802-4453
Added: Jul 16
Changed: Aug 4
Last Checked: Aug 23 at 5:06AM
MLS# 156429
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.
Investment Insights
Based on property information with market context.
This live-work property combines a double-wide residence with prepared outdoor space. Site work is already in place, including dirt work, level lots, and security fencing. The double-wide includes an en-suite bath with double vanity, a separate shower, and a walk-in garden tub. An open concept layout connects the family room, dining area, and kitchen, with a walk-in pantry and island breakfast bar. The kitchen is equipped with an oven, microwave, and a new refrigerator.
The property offers highly visible frontage on Central Avenue in Hot Springs, with nearby shop/red barn support noted in the remarks.
The overall layout is presented as suitable for RV and boat storage, contractor operations, retail, or future commercial development, while also providing a residence on-site.
The property offers highly visible frontage on Central Avenue in Hot Springs, with nearby shop/red barn support noted in the remarks.
The overall layout is presented as suitable for RV and boat storage, contractor operations, retail, or future commercial development, while also providing a residence on-site.
Key Highlights
- Mixed‑use property with high‑visibility frontage on Central Ave and strong traffic counts
- Hard work completed with dirt work, level lots, and security fencing already in place
- Spacious double‑wide home with en‑suite bath featuring double vanity, separate shower, and walk‑in garden tub
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
Apartment 5plus
$174.2K
$152.4K – $203.2K
NOI $12,194 @ 7.0% cap · market cap 4.08%
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
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Live-work property with security fencing, level lots, and a double-wide home set for storage or commercial uses.
Where is this single family property located?
The property is located at 6507 CENTRAL Avenue 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: Mixed‑use property with high‑visibility frontage on Central Ave and strong traffic counts; Hard work completed with dirt work, level lots, and security fencing already in place; Spacious double‑wide home with en‑suite bath featuring double vanity, separate shower, and walk‑in garden tub
