Historic Downtown Storefront
For Sale
$599,000
802 CENTRAL Avenue Unit 1, Hot Springs, AR 71901
Finished public space includes storage and a separate stocking room.
Property Size2,070 SF
Price / SF$332.78
Days on Market11
Property Features for 802 CENTRAL Avenue Unit 1
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Commercial Building
Taxes and HOA fees
Annual Taxes
$3,466
Building Details
Building Size
2,070 SF
Year Built
1920
Buildings
1
Listing Agency:
ESQ. Realty Group
(501) 293-1913
Listed By:
Jeffery Vaughn · License #SA00082445
(501) 293-1913
Source:
Whitestonearkansas
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 19 at 2:22PM
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
Investment Insights
Based on property information with market context.
Built in 1920, this storefront property at 802 Central Avenue Unit 1 offers approximately 1800 square feet of finished public space. The building 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 in Historic Downtown Hot Springs, directly across from Bridge Street and on Bath House Row. An adjacent city parking lot provides convenient access for visitors and operations. The sale includes the real estate only; the existing business, furnishings, supplies, and other fixtures are excluded.
The property is in Historic Downtown Hot Springs, directly across from Bridge Street and on Bath House Row. An adjacent city parking lot provides convenient access for visitors and operations. The sale includes the real estate only; the existing business, furnishings, supplies, and other fixtures are excluded.
Key Highlights
- Approximately 1800 square feet of finished public space
- 1920 building in Historic Downtown Hot Springs
- Located on Bath House Row at 802 Central Avenue Unit 1
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
$19,035
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
3.18%
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%
$380,700
$380.7K
Cap Rate 7%
$271,929
$271.9K
Cap Rate 9%
$211,500
$211.5K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$25.4K $14.10/SF
− OpEx
−$6.3K −$3.53/SF
NOI
$19.0K $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%
$380,700
Cap Rate 7%
$271,929
Cap Rate 9%
$211,500
Alternative Uses
Best Use
Specialty Retail
$271.9K
$237.9K – $317.3K
NOI $19,035 @ 7.0% cap · market cap 3.18%
Second Best
Retail
$203.0K
$177.7K – $236.9K
NOI $14,213 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$329.2K
$288.0K – $384.1K
NOI $23,043 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 22%
Hotels & Casinos 17%
Groceries 10%
Burger King
Dining
9,887 visits/mo
0.4 miles
Embassy Suites By Hilton Hot Springs Hotel & Spa
Hotels & Casinos
7,888 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,905 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,119 visits/mo
0.4 miles
Exxon
Shops & Services
5,087 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Joe Sturgill & Company — 817 Prospect Ave, Hot Springs, AR 71901
Frequently Asked Questions
What type of property is this?
Storefront property - Finished public space includes storage and a separate stocking room.
Where is this storefront property located?
The property is located at 802 CENTRAL Avenue Unit 1 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: Approximately 1800 square feet of finished public space; 1920 building in Historic Downtown Hot Springs; Located on Bath House Row at 802 Central Avenue Unit 1
