Updated Mixed-Use Commercial
901 Spring Street, Hot Springs, AR 71901
For Sale
$274,000
Recently updated space near downtown with fenced parking and additional parking across the street.
Property Size1,219 SF
Price / SF$224.77
Days on Market102
Property Features for 901 Spring Street
General Information
Standard status
Size
Property subtype
Listing Agency:
Southern Homes Realty - Hot Springs
(501) 760-0015
Listed By:
Kristi Williams
(501) 520-1006
Source:
Arprorealty
Added: Aug 1
Changed: Nov 7
Last Checked: Nov 10 at 8:05AM
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 Southern Homes Realty - Hot Springs
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Investment Insights
Based on property information with market context.
This mixed-use commercial property at 901 Spring Street provides 1,219 square feet of recently updated space on three city lots. Improvements have been made both inside and outside, while the enclosed site adds practical parking and flexibility for future customization. The layout can support retail, office, or service-oriented operations, subject to applicable requirements.
The property is near downtown Hot Springs, placing it close to local shopping, dining, entertainment, and area attractions. Parking is available within the fenced grounds, with additional parking located across the street. Built in 1945, the property combines an established commercial setting with updated improvements and room to adapt the space for a range of business concepts.
The property is near downtown Hot Springs, placing it close to local shopping, dining, entertainment, and area attractions. Parking is available within the fenced grounds, with additional parking located across the street. Built in 1945, the property combines an established commercial setting with updated improvements and room to adapt the space for a range of business concepts.
Key Highlights
- 1,219 SF of commercial space
- Three city lots provide additional site flexibility
- Interior and exterior updates completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,704
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,080
$234.1K
Cap Rate 7%
$167,200
$167.2K
Cap Rate 9%
$130,044
$130.0K
Market Conditions
NOI Build-Up for 1,219 SF
Gross rent
$17.6K $14.40/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$15.6K $12.80/SF
− OpEx
−$3.9K −$3.20/SF
NOI
$11.7K $9.60/SF
Area
Garland County, AR
Vacancy
11.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,080
Cap Rate 7%
$167,200
Cap Rate 9%
$130,044
Alternative Uses
Best Use
Office B
$167.2K
$146.3K – $195.1K
NOI $11,704 @ 7.0% cap · market cap 4.27%
Second Best
Retail
$137.5K
$120.3K – $160.4K
NOI $9,625 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$222.9K
$195.1K – $260.1K
NOI $15,605 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Recently updated space near downtown with fenced parking and additional parking across the street.
Where is this mixed-use property located?
The property is located at 901 Spring Street Hot Springs, AR.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: 1,219 SF of commercial space; Three city lots provide additional site flexibility; Interior and exterior updates completed
