Bar Building with
New
For Sale
$599,000
802 Central Avenue, Hot Springs, AR 71901
COMMERCIAL - Hot Springs, AR
Property Size2,070 SF
Lot Size0.06 Acres
Price / SF$289.37
Days on Market2
Property Features for 802 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
802 Central HPR
Directions
From the intersection of Grand and Central, take Central Ave north to the intersection of Central and Bridge St. 802 Central Ave will be on your left.
Standard status
Active
APN
400-00130-001-000
Size
2,070 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Block 000 Lot 001, 802 Central
Tax Annual Amount
3783
Legal Description
Block 000 Lot 001, 802 Central
Building Details
Year built
1920
Floors in Building
1
Listing Agency:
ESQ. Realty Group - Hot Springs
(501) 255-0509
Listed By:
Jeffery Vaughn · License #SA00082445
(501) 293-1913
Added: Aug 10
Last Checked: Aug 11 at 5:06PM
MLS# 26032569
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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 1920 commercial building offers 2,070 square feet with approximately 1,800 square feet of finished public space. The layout also includes heated and cooled storage, a separate stocking room, and a built-in bar that will remain with the real estate. The property is suited to bar, lounge, or other social-business use based on its existing configuration.
Located at 802 Central Avenue in Hot Springs, the building sits in Historic Downtown directly across from Bridge Street and on Bath House Row. An adjacent city parking lot provides nearby parking access. The sale includes the real estate only; the operating business, furnishings, supplies, and other fixtures are excluded.
Located at 802 Central Avenue in Hot Springs, the building sits in Historic Downtown directly across from Bridge Street and on Bath House Row. An adjacent city parking lot provides nearby parking access. The sale includes the real estate only; the operating business, furnishings, supplies, and other fixtures are excluded.
Key Highlights
- 2,070‑square‑foot commercial building constructed in 1920
- Approximately 1,800 square feet of finished public space
- Heated and cooled storage plus a separate stocking room
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
$21,890
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
3.65%
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%
$437,800
$437.8K
Cap Rate 7%
$312,714
$312.7K
Cap Rate 9%
$243,222
$243.2K
Market Conditions
NOI Build-Up for 2,070 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
$31.1K $15.00/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$29.2K $14.10/SF
− OpEx
−$7.3K −$3.53/SF
NOI
$21.9K $10.58/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$15.00 /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%
$437,800
Cap Rate 7%
$312,714
Cap Rate 9%
$243,222
Alternative Uses
Best Use
Specialty Retail
$312.7K
$273.6K – $364.8K
NOI $21,890 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$233.5K
$204.3K – $272.4K
NOI $16,345 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$378.6K
$331.2K – $441.7K
NOI $26,499 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
62k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 32%
Beauty & Spa 3%
Electronics 2%
McDonald's
Dining
18,055 visits/mo
0.4 miles
Burger King
Dining
9,887 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
7,854 visits/mo
0.3 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,119 visits/mo
0.3 miles
Demographics for 71901, AR
29,363
Population
14,952
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
88%
High-School Grad
101.9 sq mi
ZIP Area
288
Density / Sq Mi
$52,410
Median Household Income
$35,604
Median Earnings
$797
Median Rent
$173,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Historic downtown setting includes conditioned storage and a separate stocking room.
Where is this bar & pub located?
The property is located at 802 Central Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,070‑square‑foot commercial building constructed in 1920; Approximately 1,800 square feet of finished public space; Heated and cooled storage plus a separate stocking room
