Corner Retail
For Sale
$275,000
815 & 817 Grand Avenue, Hot Springs, AR 71901
Commercial / Industrial, Hot Springs, AR
Property Size2,785 SF
Lot Size0.39 Acres
Price / SF$98.74
Days on Market332
Property Features for 815 & 817 Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
5
Lot features
Corner Lot
Directions
Taking Grand Avenue EAST towards Little Rock. Property is on the left hand side before Spring Street. Location is on the corner of Grand Ave and Spring Street.
Subdivision
HOT SPRINGS SCHOOL DISTRICT
Standard status
Active
Size
2,785 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Block 30
Tax Annual Amount
538
Legal Description
Block 30
Building Details
Year built
1981
Floors in Building
1
Flooring type
Concrete
Listing Agency:
White Stone Real Estate
(501) 359-3009
Listed By:
Audrey White
(501) 545-9075
Added: Nov 7, 2025
Changed: Oct 5
Last Checked: Oct 5 at 9:06AM
MLS# 25045892
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 retail property comprises two buildings with a combined 2,785 square feet on a 0.39-acre parcel. Built in 1981, the buildings have concrete flooring and are zoned C-1. Retail and office use are identified for the property.
The site occupies the corner of Grand Avenue and Spring Street at 815 & 817 Grand Avenue in Hot Springs. It has 201 feet of frontage along Grand Avenue and is positioned at the first traffic signal for vehicles entering Hot Springs from Highway 70.
The site occupies the corner of Grand Avenue and Spring Street at 815 & 817 Grand Avenue in Hot Springs. It has 201 feet of frontage along Grand Avenue and is positioned at the first traffic signal for vehicles entering Hot Springs from Highway 70.
Key Highlights
- Two buildings totaling 2,785 square feet
- 201 feet of frontage on Grand Avenue
- 0.39‑acre parcel
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
$21,990
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
8.00%
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%
$439,800
$439.8K
Cap Rate 7%
$314,143
$314.1K
Cap Rate 9%
$244,333
$244.3K
Market Conditions
NOI Build-Up for 2,785 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
$33.4K $12.00/SF
− Vacancy
−$2.0K −$0.72/SF
EGI
$31.4K $11.28/SF
− OpEx
−$9.4K −$3.38/SF
NOI
$22.0K $7.90/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$439,800
Cap Rate 7%
$314,143
Cap Rate 9%
$244,333
Alternative Uses
Best Use
Retail
$314.1K
$274.9K – $366.5K
NOI $21,990 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.3K
$445.7K – $594.2K
NOI $35,652 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
41k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Hotels & Casinos 25%
Apparel 12%
Groceries 4%
Dodge's Southern Style
Shops & Services
20,088 visits/mo
0.3 miles
Embassy Suites By Hilton Hot Springs Hotel & Spa
Hotels & Casinos
7,888 visits/mo
0.5 miles
Goodwill
Apparel
4,781 visits/mo
0.4 miles
Citgo
Shops & Services
3,932 visits/mo
0.1 miles
Liquor Mart
Groceries
1,806 visits/mo
0.2 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two separate buildings provide space for retail or office use under C-1 zoning.
Where is this retail space located?
The property is located at 815 & 817 Grand Avenue Hot Springs, AR.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two buildings totaling 2,785 square feet; 201 feet of frontage on Grand Avenue; 0.39‑acre parcel
