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    1820 Central Ave, Unit E Hot Springs, AR 71901
    Property profile & analytics

    1820 Central Ave, Unit E Hot Springs, AR 71901

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    • Office buildings
    • 26,204 SF
    • 1.85 lot acres
    For Lease
    $2,700/Mo
    View Listing →
    Hot Springs Professional Center Lease For Lease
    $2,700/Mo
    2,390 SF

    Hot Springs Professional Center Lease

    Professional center with utilities included in Hot Springs, AR.

    1820 Central Avenue, Suite E, Hot Springs, AR 71901
    View Listing
    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.
    Value Estimations
    $1,630,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Center For Arkansas Legal Services / Law Firm
    • Cindi Golden-Moore Real Estate Agent Broker Hot Springs / Real Estate Agency
    • Nancy Bergeron REALTOR Hot Springs - Keller Williams Realty Hot Springs / Real Estate Agency
    • Lotus Valley Health and Wellness, LLC / Crisis Center / Medical Clinic
    • Engaging Arkansas Communities / Charitable Organization / Social Service Agency

    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 estimation — 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 by Request
      1,431 SF

      213 Hazel St

      OFFICE BUILDING • 1,431 SF
      213 Hazel St, Hot Springs, AR 71901-5132
      View Details
    • Value Estimation
      $1,165,000
      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 by Request
      440 SF

      108 Woodbine St

      OFFICE BUILDING • 440 SF
      108 Woodbine St, Hot Springs, AR 71901-5123
      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
      $1,310,000
      9,663 SF

      307 Carpenter Dm Rd Ste H

      OFFICE BUILDING • 9,663 SF
      307 Carpenter Dm Rd Ste H, Hot Springs National Park, AR 71901-8282
      View Details
    • Value Estimation
      $785,000
      11,724 SF

      923 Central Ave

      OFFICE BUILDING • 11,724 SF
      923 Central Ave, Hot Springs, AR 71901-5336
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • $274,000
      1,219 SF

      Commercial Property Near Downtown Hot Springs

      Versatile commercial space on three city lots near downtown Hot Springs.
      901 Spring St, Hot Springs, AR 71901
      View Details
    • $213,000
      2.47 Acres

      Commercial Lot on Busy Highway

      2.47-acre commercial lot primed for development in Hot Springs.
      2600 Block Park Ave Hwy, Hot Springs, AR 71901
      View Details
    • $249,900
      1,432 SF

      Central Avenue Building and Land

      Office, medical, or retail building with high traffic exposure.
      1419 Central Ave, Hot Springs, AR 71901
      View Details
    • $499,900

      Malvern Avenue Commercial Land Available

      2.7 acres of commercially zoned land on Malvern Avenue.
      000 Malvern Ave, Hot Springs, AR 71901
      View Details
    • Contact for pricing
      2,390 SF

      Office Suite on Central Avenue

      Office suite available for purchase on Central Avenue.
      1820 Central Ave, Hot Springs, AR 71901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Space in Hot Springs

      Mixed-use space for sale or lease near city transit.
      622 Malvern Ave, Hot Springs, AR 71901
      View Details
    • $2,700 /Mo
      2,390 SF

      Hot Springs Professional Center Lease

      Professional center with utilities included in Hot Springs, AR.
      1820 Central Ave, Hot Springs, AR 71901
      View Details
    • $1,200 /Mo
      1,350 SF

      Retail/Office Space in Hot Springs

      High-traffic location suitable for retail or office use.
      913 Malvern Ave, Hot Springs, AR 71901
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      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
    • Contact for pricing
      6,640 SF

      Downtown Hot Springs Office Space

      Office space for lease near downtown Hot Springs.
      628 Malvern Ave, Hot Springs, AR 71901
      View Details
    View Listing
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    Hot Springs, AR 71901
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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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