Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1820 Central Ave Hot Springs, AR 71901-7199

    • Office buildings
    • 26,204 SF
    • 1.85 lot acres
    OFF-MARKET
    Last Sale
    Oct 06, 2022
    $1,632,500
    Value Estimations
    $1,665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0401981
    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

    • Center For Arkansas Legal Services / Divorce Lawyer / Elder Law Attorney
    • Cindi Golden-Moore Real Estate Agent Broker Hot Springs / Real Estate Agent / Real Estate Consultant
    • Nancy Bergeron REALTOR Hot Springs - Keller Williams Realty Hot Springs / Real Estate Agent
    • Lotus Valley Health and Wellness, LLC / Mental Health Service
    • Engaging Arkansas Communities / Non-Profit Organization

    Property Details for 1820 Central Ave

    Year built
    1960
    Lot size
    1.85 lot acres
    Property size
    26,204 SF
    Property type
    Office buildings
    APN
    300-06522-000C
    APU
    30006522000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,545,000
      ML approach
      $1,590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,025,000
      Market price range: $937k - $3.55M
      AI Estimate
      $1,757,000
      Market price range: $678k - $3.33M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,370,000
      Current use
      RETAIL STORES
      $2,550,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0585
    Latitude
    34.4947
    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
    $16,578
    $81,380
    $285,380
    $366,760
    -
    $406,900
    $1,426,900
    $1,833,800

    Comparable in this City

    • Value Estimation
      $580,000
      47,363 SF

      236 Central Ave, Unit 16

      OFFICE BUILDING • 47,363 SF
      236 Central Ave, Hot Springs, AR 71901-3531
      View Details
    • Value Estimation
      $220,000
      1,431 SF

      213 Hazel St

      OFFICE BUILDING • 1,431 SF
      213 Hazel St, Hot Springs, AR 71901-5132
      View Details
    • Value Estimation by Request
      1,500 SF

      133 Arbor St, Unit B

      OFFICE BUILDING • 1,500 SF
      133 Arbor St, Hot Springs, AR 71901-3535
      View Details
    • Value Estimation
      $245,000
      440 SF

      108 Woodbine St

      OFFICE BUILDING • 440 SF
      108 Woodbine St, Hot Springs, AR 71901-5123
      View Details
    • Value Estimation
      $285,000
      3,702 SF

      4836 Park Aveb

      OFFICE BUILDING • 3,702 SF
      4836 Park Aveb, Hot Springs, AR 71901-9477
      View Details
    • Value Estimation
      $435,000
      1,971 SF

      2815 Malvern Ave

      OFFICE BUILDING • 1,971 SF
      2815 Malvern Ave, Hot Springs National Park, AR 71901-8360
      View Details

    Similar Nearby for Sale

    • $4,495,000
      30,000 SF

      Energy-Efficient Office Building for Sale

      30,000 SF office building with energy-saving features.
      100 Hollywood Ave, Hot Springs, AR 71901
      View Details
    • $800,000
      1.23 Acres

      Prime Commercial Property in Hot Springs

      Commercial property with downtown views and Greenway Project access.
      120/124 Hill St, Hot Springs, AR 71901
      View Details
    • $2,874,178
      28,802 SF

      Two Office Buildings For Sale

      Two office buildings in central Hot Springs with long-term tenants.
      106 Ridgeway St, Hot Springs National Park, AR 71901
      View Details
    • $2,874,178
      8.59 Acres

      Hot Springs Office Building, Land

      Two office buildings and land for sale in Hot Springs.
      100 Ridgeway St, Hot Springs, AR 71901
      View Details
    • $425,000
      1,474 SF

      Hot Springs Commercial Building/Land

      Move-in ready commercial building in high-traffic Hot Springs location.
      207 Golf Links Rd, Hot Springs, AR 71901
      View Details
    • New
      $225,000
      2,158 SF

      Art Deco Garage on Park Avenue

      2,158 sq ft Art Deco garage in high-visibility location.
      340 Park Ave, Hot Springs, AR 71901
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      70,310 SF

      Hot Springs Office Space

      Prime Downtown Office Suites Available
      835 Central Ave, Hot Springs, AR 71901
      View Details
    • $16 SF/Yr
      10,898 SF

      Medical Office Space for Rent

      Medical office space available in Doctor’s Medical Park.
      130 Medical Park Pl, Hot Springs, AR 71901
      View Details
    • $9 SF/Yr
      1,600 SF

      Downtown Hot Springs Office Space

      Office space for lease near downtown Hot Springs.
      628 Malvern Ave, Hot Springs, AR 71901
      View Details
    • $15 SF/Yr
      950 SF

      Office Space on Malvern Avenue

      Office space for rent with utilities and janitorial included.
      1401 Malvern Ave, Hot Springs National Park, AR 71901
      View Details
    • $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
    • $12 SF/Yr
      2,560 SF

      Professional Office Space Available

      2,560 SF office space near downtown and courthouse.
      523 Orange St, Hot Springs, AR 71901
      View Details
    Request Owner's contact information
    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.
    1820 Central Ave
    Hot Springs, AR 71901-7199
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.