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    Property profile & analytics

    1606 Central Ave Hot Springs, AR 71901-6116

    • Motels
    • 9,216 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0271677
    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

    • Capri Motel / Hotel & Motel

    Property Details for 1606 Central Ave

    Year built
    1955
    Lot size
    0.27 lot acres
    Property size
    9,216 SF
    Property type
    Motels
    APN
    400-43450-003-000C
    APU
    40043450003000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0576
    Latitude
    34.497
    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
    $3,308
    $18,400
    $63,820
    $82,220
    -
    $92,000
    $319,100
    $411,100

    Comparable in this City

    • Value Estimation by Request
      859 SF

      803 Mineral St

      Motels • 859 SF
      803 Mineral St, Hot Springs, AR 71901
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    • Value Estimation
      $675,000
      17,424 SF

      1525 Central Ave

      MOTEL • 17,424 SF
      1525 Central Ave, Hot Springs, AR 71901-6147
      View Details
    • Value Estimation
      $2,600,000
      28,200 SF

      2208 Central Ave

      MOTEL • 28,200 SF
      2208 Central Ave, Hot Springs, AR 71901-6946
      View Details
    • Value Estimation
      $1,255,000
      30,520 SF

      1204 Central Ave

      MOTEL • 30,520 SF
      1204 Central Ave, Hot Springs, AR 71901-6031
      View Details
    • Value Estimation by Request
      4,804 SF

      2101 Central Ave

      MOTEL • 4,804 SF
      2101 Central Ave, Hot Springs, AR 71901-6909
      View Details
    • Value Estimation by Request
      12,420 SF

      1109 Grand Ave

      MOTEL • 12,420 SF
      1109 Grand Ave, Hot Springs, AR 71901
      View Details

    Similar Nearby for Sale

    • $1,800,000
      8,974 SF

      Historic Hot Springs Motor Lodge

      19-room boutique motor lodge in Hot Springs' historic district.
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      View Details
    • $1,000,000
      6,396 SF

      Historic Hot Springs Motel Court

      16-unit motel with residence and office on historic registry.
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    • $1,490,000
      7,524 SF

      Historic Hot Springs Short-Term Rental

      Turnkey short-term rental property with five luxury suites.
      226 Prospect Ave, Hot Springs, AR 71901
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    • $2,300,000
      7,176 SF

      Hot Springs Bed & Breakfast Estate

      Restored 1910 Craftsman on 5.5 acres near National Park.
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    • Contact for pricing
      0.26 Acres

      Residential Lot in Hot Springs

      Residential lot available for building a dream home.
      Albacete Pl, Hot Springs Village, AR 71901
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    Similar Nearby for Lease

    • $21,480
      1,432 SF

      Hot Springs Industrial Property For Sale

      1,432 sq ft Manufacturing/Commercial Space
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      View Details
    • Contact for pricing
      4,912 SF

      Downtown Hot Springs Retail Space

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      630 Malvern Ave, Hot Springs National Park, AR 71901
      View Details
    • Contact for pricing
      950 SF

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      Office space for rent with utilities and janitorial included.
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    • $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
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    • Contact for pricing
      24,156 SF

      Visible Corner Retail Space

      Retail space with high visibility near downtown historic district.
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    • $7 SF/Yr
      13,758 SF

      Hot Springs Mixed-Use Office Space

      Prime Hot Springs location, multiple suites available.
      622 Malvern Ave, Hot Springs, AR 71901
      View Details
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    1606 Central Ave
    Hot Springs, AR 71901-6116
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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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