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    FOR SALE
    Retail space

    1873 E Grand Ave, Hot Springs, AR 71901

    1,122 SF 15.19 ac lot Built 1960
    Individually Owned 4-yr Hold ~ Est. High Equity
    Property ID
    US05-0390495
    Property summary
    AI-generated overview

    This exceptional commercial investment opportunity encompasses two buildings situated on a substantial 16.03-acre lot at 1873 & 1875 E Grand Avenue in Hot Springs, Arkansas. The property, boasting 50 parking spaces, is zoned C-4 Regio CommlOpen Displ, offering significant potential for diverse commercial or industrial development. Built in 1960, the buildings present a chance for renovation or redevelopment, capitalizing on the high-traffic visibility afforded by its location on the East Grand frontage road, directly off exit 3. All utilities are conveniently available on-site. The asking price is $875,000, translating to $126.81 per square foot and $54,585.15 per acre. This prime location offers unparalleled access to major thoroughfares and benefits from proximity to popular attractions such as Magic Springs Theme Park and the gateway to Hot Springs National Park. The property's history as part of the former Magic Hills Golf Course adds to its unique appeal. The Garland County location, with a 71901 zip code, provides easy access to the city's amenities and a strong local market. This is a rare chance to acquire a large, well-located commercial parcel with significant development potential in a thriving Arkansas community. The APN is 300-05763-000C.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 1960
    Total area 1,122 SF
    Lot 15.19 ac (661,676 SF)
    APN 300-05763-000C
    UPID US05-0390495
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Rajnikant Patel · 4 yrs held
    Rajnikant Patel
    since 2022
    Last sale
    $315,000
    1 recorded transaction
    2022
    $315,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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