116 Central Ave Hot Springs, AR 71901-3528
- Retail space
- 7,002 SF
- 0.20 lot acres
Current Use by Public Records
- Retail space
Property Details for 116 Central Ave
- Year built
- 1891
- Lot size
- 0.20 lot acres
- Property size
- 7,002 SF
- Property type
- Retail space
- APN
- 400-27300-006-000
- APU
- 40027300006000
Description
This exceptional mixed-use property, located at 116 Central Ave in Hot Springs, Arkansas, presents a unique investment opportunity. The 7,002 square foot building, constructed in 1891 and renovated within the last five years, boasts three stories and combines retail space on the first floor with a residential condo spanning the second and third floors. The first floor offers immediate income from existing retail tenants, with approximately 700 square feet of additional retail space available. The residential condo provides approximately 4,600 square feet of living space. Situated on an 8,925 square foot lot, this property benefits from a prime location in the heart of downtown Hot Springs, within walking distance of Bathhouse Row, the Convention Center, Hot Springs National Park, and numerous restaurants and shops. Currently operating at 90% occupancy, this single-tenancy building is zoned CI and is situated in both the Historic District and an Opportunity Zone. The asking price is $1,575,000, translating to $224.94 per square foot. A detailed list of recent improvements is available upon request. This is a rare chance to acquire a piece of Hot Springs history with strong income potential and significant upside.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $240,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hot Springs
- County
- Garland
- State
- Arkansas
- Longitude
- -93.0558
- Latitude
- 34.518
- CBSA code
- 26300
- CBSA name
- HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA
