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    Property profile & analytics

    115 Wrights St Hot Springs, AR 71913

    • Medical offices
    • 52,458 SF
    • 2.68 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Feb 14, 2022
    $10,610,136
    Value Estimations
    $9,470,000
    Cap Rate Potential
    5%
    Medical offices
    Location Intelligence
    Property ID
    US05-0219307
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sara Wilkerson / Nurse Practitioner
    • Krivenko Yuri Nichol MD / Nephrologist
    • Ouachita Procedure Center / Medical Clinic
    • Dr. Nicholas B. Monaco, MD / Doctor
    • Tanvi Nandani Tarun / Nephrologist / Internist

    Property Details for 115 Wrights St

    Year built
    2010
    Lot size
    2.68 lot acres
    Property size
    52,458 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    400-71550-002-000
    APU
    40071550002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,055,000
      ML approach
      $8,295,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,445,000
      6.5%
      $7,795,000
      7%
      $7,235,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,365,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.062
    Latitude
    34.4721
    CBSA code
    26300
    CBSA name
    HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $94,290
    $153,900
    $1,932,160
    $2,086,060
    -
    $769,500
    $9,660,800
    $10,430,300

    Comparable in this City

    • Value Estimation by Request
      1,995 SF

      807 Grand Ave

      MEDICAL BUILDING • 1,995 SF
      807 Grand Ave, Hot Springs, AR 71913-3528
      View Details
    • Value Estimation
      $3,310,000
      130,476 SF

      1 Mercy Ln1d

      MEDICAL BUILDING • 130,476 SF
      1 Mercy Ln1d, Hot Springs, AR 71913-6442
      View Details
    • Value Estimation by Request
      3,174 SF

      905 Grand Ave

      MEDICAL BUILDING • 3,174 SF
      905 Grand Ave, Hot Springs, AR 71913-3438
      View Details
    • Value Estimation by Request
      5,532 SF

      295 Section Line Rd

      MEDICAL BUILDING • 5,532 SF
      295 Section Line Rd, Hot Springs, AR 71913-6433
      View Details
    • Value Estimation
      $540,000
      21,370 SF

      300 Werner St

      MEDICAL BUILDING • 21,370 SF
      300 Werner St, Hot Springs, AR 71913-6406
      View Details
    • Value Estimation
      $630,000
      130,476 SF

      1 Mercy Ln1g

      MEDICAL BUILDING • 130,476 SF
      1 Mercy Ln1g, Hot Springs, AR 71913-6442
      View Details

    Similar Nearby for Sale

    • $659,000
      3,800 SF

      Medical Office Space Near Hospital

      3800 SF medical office space near CHI St. Vincent Hospital.
      1 Mercy Mercy Ln, Hot Springs, AR 71913
      View Details
    • $174,000

      Charming Home in 55+ Community

      Located in a 55+ community, perfect for relaxed living.
      129 Century Cir, Hot Springs, AR 71913
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    • $165,000

      Charming Condo in 55+ Community

      Low-maintenance 2-bedroom, 2-bath condo in a well-maintained 55+ community.
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    • $450,000
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      Central Avenue Commercial Property

      Commercial building and land near Oaklawn in Hot Springs.
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      Hot Springs Office Building Investment

      High-yield, 100% occupied office building.
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    • $695,000
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      Hot Springs Commercial Building and Land

      1.7 acres with office and warehouse space on Airport Road.
      2208 Airport Rd, Hot Springs, AR 71913
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    Similar Nearby for Lease

    • $18 SF/Yr
      7,083 SF

      Hot Springs Medical Office Sublease

      7,083 SF Medical Clinic - High Visibility
      154 Cornerstone Ln, Hot Springs, AR 71913
      View Details
    • Contact for pricing
      1,134 SF

      Medical Office Space Available

      Office space for rent near Highway 270 and CHI Hospital.
      1662 Higdon Ferry Rd, Hot Springs, AR 71913
      View Details
    • $15 SF/Yr
      5,550 SF

      Office Space Near CHI Hospital

      5,550 SF office suite near CHI St. Vincent Hospital.
      115 Wrights St, Hot Springs, AR 71913
      View Details
    • $17 SF/Yr
      11,672 SF

      Medical Office Near CHI St. Vincent’s

      Medical office near hospital with private parking and storage.
      225 Mcauley Ct, Hot Springs, AR 71913
      View Details
    • $18 SF/Yr
      2,070 SF

      Central Avenue Medical Office Space

      Multi-tenant medical office space available for lease on Central Ave.
      3604 Central Ave, Hot Springs, AR 71913
      View Details
    • $18 SF/Yr
      31,716 SF

      Hot Springs Office Space Available

      Prime Hot Springs location, multiple office suites.
      135 Section Line Rd, Hot Springs, AR 71913
      View Details
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    115 Wrights St
    Hot Springs, AR 71913
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    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
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