116 Central Ave Hot Springs, AR 71901-3528
Property profile & analytics
116 Central Ave Hot Springs, AR 71901-3528
- Retail space
- 7,002 SF
- 0.20 lot acres
Property ID
US05-2204044
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.
Location Intelligence
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
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $920,000
- 6.5%
- $850,000
- 7%
- $790,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $949,000
- AI Estimate
- $755,000
Market price range: $272k - $949kMarket price range: $201k - $756k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $680,000 Current use
- COMMERCIAL (GENERAL)
- $855,000 Change: +25% Conversion: Easy
- OFFICE BUILDING
- $635,000 Change: -7% Conversion: Easy
Get a detailed, property-specific estimation — 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
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
$4,453
$47,430
$111,750
$159,180
-
$237,150
$558,750
$795,900
