Remodeled Office and Showroom
847 3rd St, Hot Springs, AR 71913
For Sale
Contact for pricing
Newly remodeled interior includes a large reception area, three offices, two restrooms, and a breakroom.
Property Size1,220 SF
Days on Market110
Property Features for 847 3rd St
General Information
Standard status
Size
Property subtype
Additional Details
Lease Term
Building Details
Building Size
Year Built
Listing Agency:
Coldwell Banker RPM Group
Listed By:
Todd Woerpel
(501) 622-8396
Source:
Commercialcafe
Added: Jul 26
Changed: Oct 26
Last Checked: Nov 12 at 4:48AM
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 Coldwell Banker RPM Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Newly remodeled inside and out, this versatile building is designed to work as either an office or a retail showroom. The interior features a large open reception/lobby area, three offices, two restrooms, a breakroom, and extra storage closets.
The tenant is responsible for all utilities, and the lessor would like to offer a 36-month lease term. For sale: contact for details regarding availability and leasing terms.
Address: 847 3rd St, Hot Springs, AR 71913.
The tenant is responsible for all utilities, and the lessor would like to offer a 36-month lease term. For sale: contact for details regarding availability and leasing terms.
Address: 847 3rd St, Hot Springs, AR 71913.
Key Highlights
- Year built 1990
- Newly remodeled interior and exterior
- Large open reception/lobby area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,633
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,660
$192.7K
Cap Rate 7%
$137,614
$137.6K
Cap Rate 9%
$107,033
$107.0K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$14.6K $12.00/SF
− Vacancy
−$878 −$0.72/SF
EGI
$13.8K $11.28/SF
− OpEx
−$4.1K −$3.38/SF
NOI
$9.6K $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 Rate 5%
$192,660
Cap Rate 7%
$137,614
Cap Rate 9%
$107,033
Alternative Uses
Best Use
Office B
$167.3K
$146.4K – $195.2K
NOI $11,713 @ 7.0% cap
Second Best
Retail
$137.6K
$120.4K – $160.6K
NOI $9,633 @ 7.0% cap
Theoretical Best
Office A
$223.1K
$195.2K – $260.3K
NOI $15,618 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
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
$179,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office Units in Hot Springs, AR
Properties on Market for Office Units in Hot Springs
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Newly remodeled interior includes a large reception area, three offices, two restrooms, and a breakroom.
Where is this office unit located?
The property is located at 847 3rd St Hot Springs, AR.
What are key features of this property?
This property features: Year built 1990; Newly remodeled interior and exterior; Large open reception/lobby area
