Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3539 Central Ave Hot Springs, AR 71913

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Central Ave Strip Mall, 9 Suites

    Lot size:
    14,700 SF

    Property Features for 3539 Central Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,700 SF
    Class
    C
    Total Rate
    23275

    Building Details

    Year Built
    2013
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 3539 Central Ave, Hot Springs, AR 71913 Contact us
    Unit K

    $19 /Mo

    Size
    2,382 SF
    Contact us
    Unit H

    $19 /Mo

    Size
    1,425 SF
    Contact us

    We can help!

    Listing Contact
    Karolyn Fankhouser
    Karolyn Fankhouser

    Listing Agency: Colliers - Little Rock, Arkansas Listing Agent: Karolyn Fankhouser

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This single-story, 14,700 square foot retail building is located at 3539 Central Avenue in Hot Springs, Arkansas. Built in 2013, this Class C property sits on a 1.4-acre lot and features nine suites with a total of 3,807 square feet currently vacant. Two available spaces offer 1,425 and 2,382 square feet respectively, each with a gross lease rate of $19.00 per square foot. The property enjoys high visibility on Central Avenue, boasting approximately 26,000 daily vehicle counts. Current tenants include established businesses such as Pizza Hut, Mary's Nails & Spa, and The Specific Chiropractic Center. Its proximity to Oaklawn Racing Casino and Resort provides exceptional access to a large customer base. The property's APN is 400-54850-022-000, and it's situated in Garland County, Arkansas, zip code 71913. This presents a strong opportunity for businesses seeking high-traffic retail space in a thriving Hot Springs location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Simple Nutrition Restaurant Abby Road (Bike/Boat/Book/etc) Store The Specific Chiropractic Centers ... Alternative Medicine Practice Mary's Nails & Spa Nail Salon Pizza Hut Take-out & Catering

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0587639
    Latitude
    34.4695881

    Nearby Similar for Lease

    • New
      $1,200 /Mo
      1,350 SF

      Retail/Office Space Available For Lease

      Retail or office space for lease in Hot Springs, AR.
      913 Malvern Ave, Hot Springs, AR 71901
      View Details
    • $1,750 /Mo
      1,750 SF

      Retail Space in Hot Springs

      Open retail space with high visibility and ample parking.
      3812 Central Ave, Hot Springs, AR 71913
      View Details
    • $2,500 /Mo
      1,881 SF

      Renovated Commercial Space For Lease

      Renovated commercial space in Hot Springs, ready for lease.
      600 Park Ave, Hot Springs, AR 71901
      View Details
    • $750 /Mo
      299 SF

      Affordable Retail Space in Hot Springs

      High-traffic, high-visibility retail space in central Hot Springs.
      516 Park Ave, Hot Springs, AR 71901
      View Details
    • $4,975 /Mo
      4,704 SF

      Retail Space in Hot Springs

      Retail space in growing area near downtown and convention center.
      249 Ouachita Ave, Hot Springs, AR 71901
      View Details
    • $875 /Mo
      875 SF

      Retail Spaces Near Downtown

      Retail spaces available near downtown and Backwoods Trail system.
      879 Park Ave, Hot Springs, AR 71901
      View Details
    • $2,500 /Mo
      2,500 SF

      Retail Spaces Available for Lease

      Retail spaces available near downtown and Backwoods Trail system.
      879 Park Ave, Hot Springs, AR 71901
      View Details
    • $2,717 /Mo
      1,427 SF

      Retail/Restaurant Space in Hot Springs

      Vacant retail shell space with tenant improvement allowance available.
      155 Carpenter Dam Rd, Hot Springs, AR 71901
      View Details
    • $14 SF/Yr
      9,664 SF

      Retail Space on Central Avenue

      9,664 SF retail suite with prime visibility on Central Ave.
      3339 Central Ave, Hot Springs, AR 71913
      View Details
    • $18 SF/Yr
      7,083 SF

      Medical Clinic Sublease Opportunity

      Sublease opportunity for a medical clinic with high traffic.
      154 Cornerstone Ln, Hot Springs National Park, AR
      View Details
    • Contact for pricing
      3,640 SF

      Versatile Flex Space Available

      Three buildings for lease with yard space in Hot Springs.
      137 Stonewall St, Hot Springs, AR 71913
      View Details
    • Contact for pricing
      2,550 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru centrally located in Hot Springs.
      1382-1384 Higdon Ferry Rd, Hot Springs National Park, AR 71913
      View Details

    FAQs

    What type of property is this?
    Retail property - Central Ave Strip Mall, 9 Suites
    Where is this retail property located?
    The property is located at 3539 Central Ave Hot Springs, AR.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 1,425 SF suite available.; 2,382 SF suite available.; $19/SF gross lease rate.
    (501) 627-2141 Call to check price and availability
    Request Owner's contact information
    3539 Central Ave Hot Springs, AR 71913
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3539 Central Ave
    Hot Springs, AR 71913
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3539 Central Ave Hot Springs, AR 71913
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Karolyn Fankhouser
    Karolyn Fankhouser
    Real Estate License ID: EB00044496
    (501) 627-2141 (501) 623-2200
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!