Medical Office with Fenced
For Sale
$375,000
711 ALBERT PIKE Road, Hot Springs, AR 71913
COMMERCIAL/INDUSTRIAL, Hot Springs, AR
Property Size1,680 SF
Lot Size0.24 Acres
Price / SF$223.21
Days on Market128
Property Features for 711 ALBERT PIKE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RN-2 Res Nbhd 2 District
Zoning description
RN-2 Res Nbhd 2 District
Exterior features
Fully Fenced
Fencing
Full
Subdivision
Bayles Addition
Directions
West Grand will turn into Albert Pike, business on the Left.
Standard status
Active
Size
1,680 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
Block 1, Lot 4 & 5, Bayles Addition, Garland County, Arkansas
Tax Annual Amount
1636
Legal Description
Block 1, Lot 4 & 5, Bayles Addition, Garland County, Arkansas
Building Details
Year built
1945
Floors in Building
1
Flooring type
Carpet - Partial, Wood
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Added: Apr 22
Changed: Aug 19
Last Checked: Aug 27 at 3:06PM
MLS# 155153
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 former chiropractic clinic offers a functional medical and service layout, including a large reception or lobby area, five private treatment or exam rooms, a bathroom, and a kitchen or break area. The property also includes a separate shower. A full basement extends under the entire building, providing additional storage and workspace options, along with a fully fenced yard.
Located at 711 Albert Pike Road in Hot Springs, the building benefits from frontage on a high-traffic corridor with approximately 23,000 vehicles per day based on the provided information. Separate entry and exit arrangements support convenient access for both clients and staff, and the property includes 12 on-site parking spaces.
Zoned RN-2 Res Nbhd 2 District, the interior configuration and private room count make the space suitable for medical office, wellness, professional services, or related service-based uses consistent with the property’s existing layout.
Located at 711 Albert Pike Road in Hot Springs, the building benefits from frontage on a high-traffic corridor with approximately 23,000 vehicles per day based on the provided information. Separate entry and exit arrangements support convenient access for both clients and staff, and the property includes 12 on-site parking spaces.
Zoned RN-2 Res Nbhd 2 District, the interior configuration and private room count make the space suitable for medical office, wellness, professional services, or related service-based uses consistent with the property’s existing layout.
Key Highlights
- ~23,000 vehicles per day on Albert Pike Road in Hot Springs
- Former chiropractic clinic with large reception/lobby, 5 private treatment/exam rooms, bathroom, and kitchen/break area
- Separate entry and exit for convenient client and staff access
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
$16,224
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
4.33%
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%
$324,480
$324.5K
Cap Rate 7%
$231,771
$231.8K
Cap Rate 9%
$180,267
$180.3K
Market Conditions
NOI Build-Up for 1,680 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
$29.2K $17.40/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$27.0K $16.10/SF
− OpEx
−$10.8K −$6.44/SF
NOI
$16.2K $9.66/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
40.00%
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%
$324,480
Cap Rate 7%
$231,771
Cap Rate 9%
$180,267
Alternative Uses
Best Use
Healthcare Medical
$231.8K
$202.8K – $270.4K
NOI $16,224 @ 7.0% cap · market cap 4.33%
Second Best
Office B
$230.4K
$201.6K – $268.8K
NOI $16,130 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$307.2K
$268.8K – $358.5K
NOI $21,507 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Former chiropractic clinic with reception, five exam rooms, private facilities, basement space, and 12 on-site parking spots.
Where is this medical office space located?
The property is located at 711 ALBERT PIKE Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: ~23,000 vehicles per day on Albert Pike Road in Hot Springs; Former chiropractic clinic with large reception/lobby, 5 private treatment/exam rooms, bathroom, and kitchen/break area; Separate entry and exit for convenient client and staff access
