Medical Office Building with
For Sale
$375,000
711 Albert Pike Rd, Hot Springs, AR 71913
Former chiropractic clinic features five private treatment rooms, separate entry/exit, and a fully finished basement with fenced yard.
Property Size1,680 SF
Price / SF$223.21
Days on Market133
Property Features for 711 Albert Pike Rd
General Information
Standard status
Active
Size
1,680 SF
Total Parking Spaces
12
Site & Location
Traffic Count
23,000 vehicles/day
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,636
Listing Agency:
ESQ. Realty Group - Hot Springs
(501) 609-6493
Listed By:
Beau Durbin · License #PB00055248
(501) 609-6493
Source:
Exprealty
Added: Apr 22
Changed: Aug 28
Last Checked: Aug 31 at 6:45PM
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 ESQ. Realty Group - Hot Springs
Investment Insights
Based on property information with market context.
This former chiropractic clinic is well suited for medical office and service uses, with a functional interior layout that includes a large reception/lobby area, five private treatment and exam rooms, and a bathroom. The space also provides a kitchen/break area, a separate shower, and a dedicated entry and exit for convenient client and staff access. A full basement extends under the entire building and can support storage, workspace, or future expansion. Outside, the property includes a fully fenced yard and 12 on-site parking spaces.
The building is located on Albert Pike Road in Hot Springs in a high-traffic commercial corridor with approximately 23,000 vehicles per day, supporting strong visibility and straightforward access.
With its existing room count, on-site parking, and basement footprint, the property offers a practical foundation for an owner-occupant or an investor looking for a flexible commercial building in an active retail/service area.
The building is located on Albert Pike Road in Hot Springs in a high-traffic commercial corridor with approximately 23,000 vehicles per day, supporting strong visibility and straightforward access.
With its existing room count, on-site parking, and basement footprint, the property offers a practical foundation for an owner-occupant or an investor looking for a flexible commercial building in an active retail/service area.
Key Highlights
- Former chiropractic clinic on Albert Pike Road in Hot Springs with approx. 23,000 vehicles per day.
- Functional layout 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
Lease Details
23,000 VPD
Traffic count
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
470
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former chiropractic clinic features five private treatment rooms, separate entry/exit, and a fully finished basement with fenced yard.
Where is this medical office space located?
The property is located at 711 Albert Pike Rd 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: Former chiropractic clinic on Albert Pike Road in Hot Springs with approx. 23,000 vehicles per day.; Functional layout with large reception/lobby, 5 private treatment/exam rooms, bathroom, and kitchen/break area.; Separate entry and exit for convenient client and staff access.
