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    Property profile & analytics

    3218 Central Ave Hot Springs, AR 71913-6141

    • Auto shops
    • 2,070 SF
    • 1.13 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-0431181
    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

    • Central City Tire Inc / Tire Shop

    Property Details for 3218 Central Ave

    Year built
    1970
    Lot size
    1.13 lot acres
    Property size
    2,070 SF
    Property type
    Auto shops
    APN
    300-07699-000C
    APU
    30007699000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $166,000
      Market price range: $75.5k - $167k
      AI Estimate
      $159,000
      Market price range: $55.9k - $159k

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0603
    Latitude
    34.4778
    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
    $6,001
    $114,660
    $18,100
    $132,760
    -
    $573,300
    $90,500
    $663,800

    Comparable in this City

    • Value Estimation
      $220,000
      2,400 SF

      184 Raithwood Rd

      AUTO REPAIR, GARAGE • 2,400 SF
      184 Raithwood Rd, Hot Springs National Park, AR 71913-8862
      View Details
    • Value Estimation
      $230,000
      1,125 SF

      700 Hobson Ave

      AUTO REPAIR, GARAGE • 1,125 SF
      700 Hobson Ave, Hot Springs, AR 71913-3407
      View Details
    • Value Estimation
      $240,000
      1,500 SF

      751 Bull Byu Rd

      AUTO REPAIR, GARAGE • 1,500 SF
      751 Bull Byu Rd, Hot Springs National Park, AR 71913-2630
      View Details
    • Value Estimation
      $215,000
      2,548 SF

      101 Cain Rd

      AUTO REPAIR, GARAGE • 2,548 SF
      101 Cain Rd, Hot Springs National Park, AR 71913-7945
      View Details
    • Value Estimation
      $235,000
      4,651 SF

      711 Hobson Ave

      AUTO REPAIR, GARAGE • 4,651 SF
      711 Hobson Ave, Hot Springs, AR 71913-3408
      View Details
    • Value Estimation
      $105,000
      2,914 SF

      415 Summer St

      AUTO REPAIR, GARAGE • 2,914 SF
      415 Summer St, Hot Springs, AR 71913-3416
      View Details

    Similar Nearby for Sale

    • New
      $695,000
      5,900 SF

      Hot Springs Shop and Office

      1.70 acre property with shop and office space.
      2208 Airport Rd, Hot Springs, AR 71913
      View Details
    • New
      $132,800
      1,440 SF

      Updated Garage in Hot Springs

      Updated 1440 SF garage with three bay doors for sale.
      410 7Th St, Hot Springs, AR 71913
      View Details
    • Contact for pricing
      2,700 SF

      Hot Springs Commercial Property Auction

      Income-producing commercial property in Hot Springs, AR. Auction January 30th.
      620 Hobson Ave, Hot Springs, AR 71913
      View Details
    • $599,000
      1,794 SF

      Highway Frontage Development Opportunity

      4.79 acres with high traffic and multiple development opportunities.
      3435 Albert Pike Rd, Hot Springs, AR 71913
      View Details
    • $1,800,000
      7,244 SF

      Showroom and Offices on Albert Pike

      7,200 SF showroom and offices on 1.9 acre lot.
      1814 Albert Pike Rd, Hot Springs, AR 71913
      View Details
    • $119,000
      1,842 SF

      Hot Springs Mixed-Use Opportunity

      Mixed-use property with retail space and live-work potential.
      251 Hobson Ave, Hot Springs, AR 71913
      View Details

    Similar Nearby for Lease

    • $18,000 /Mo
      14,019 SF

      Former Car Dealership For Rent

      14,019 SF commercial space ideal for retail or showroom.
      4318 Central Ave, Hot Springs, AR 71913
      View Details
    • Contact for pricing
      1,420 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center near national park.
      1607-1609 Albert Pike Rd, Hot Springs, AR 71913
      View Details
    • $2,200 /Mo
      3,640 SF

      Versatile Flex Space Available

      Three buildings for lease with yard space in Hot Springs.
      137 Stonewall St, Hot Springs, AR 71913
      View Details
    • $42 SF/Yr
      2,550 SF

      Retail Space with Drive-Thru

      Retail space with drive-thru centrally located in Hot Springs.
      1382-1384 Higdon Ferry Rd, Hot Springs National Park, AR 71913
      View Details
    • $25 SF/Yr
      2,388 SF

      Retail Space Near Major Anchors

      Retail space with high traffic and easy access.
      1412 Higdon Ferry Rd, Hot Springs, AR 71913
      View Details
    • $12 SF/Yr
      17,140 SF

      Hot Springs Retail Plaza

      17,140 SF Retail Space Available
      5401 Central Ave, Hot Springs, AR 71913
      View Details
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    3218 Central Ave
    Hot Springs, AR 71913-6141
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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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