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Property profile & analytics
OFF-MARKET
Estimated value
$4,810,000
High-rise multifamily apartments
240 Central Ave, Hot Springs, AR 71901-3567
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US05-0318746
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1964
Total area
92,072 SF
Lot
0.35 ac (15,420 SF)
APN
400-34200-006-000
UPID
US05-0318746
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
Current use
Occupant on record · Public records
-
Neon Moon Mercantile Convenience Store Grocery & Convenience Store
-
C & J Market and Gifts Grocery & Convenience Store
-
Aristocrat Manor Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.81M
Owner & transaction history
Aristocrat Manor Ltd · 8 yrs held
Aristocrat Manor Ltd
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hot Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hot Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$7,255,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$7,225,000
Change: 0% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,045,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$6,055,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,060,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$3,555,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$4.81M
Range $4.33M – $5.29M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$46,488
Tax year 2024
Assessed value
$1,028,490
Assessed 2024
Previous assessed
$1,028,490
+0.0% YoY
Effective rate
4.52%
On assessed value
Assessed land
$81,840
Assessed improvement
$946,650
Land market value
$409,200
Improvement market value
$4,733,250
Total market value
$5,142,450
Applied tax rate
61.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1964
Heating
HOT WATER
Cooling
AC.PACKAGE
Stories
7
Units
101
Total area
92,072 SF
Lot
0.35 ac (15,420 SF)
APN
400-34200-006-000
UPID
US05-0318746
Jurisdiction
GARLAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$7.3M
OFFICE BUILDING
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$7.0M
RETAIL STORES
Est. value
$6.1M
WAREHOUSE, STORAGE
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.6M
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Heating
HOT WATER
Cooling
Yes
Stories
7
Units
101
Lot
0.35 ac
Current owner
From public records · entity-resolved
Aristocrat Manor Ltd
Individual
Mailing address
3801 WOODLAND HTS RD STE #110, LITTLE ROCK, AR 72212-2410
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2017
—
Aristocrat Manor Ltd
—
Grant Deed
related
$2,754,617 · Arvest Mtg
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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