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    3364 Central Ave Hot Springs, AR 71901
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    Property profile & analytics

    3364 Central Ave Hot Springs, AR 71901

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    • Retail space
    • 13,178 SF
    • 0.99 lot acres
    For Lease
    $16 SF/Yr
    View Listing →
    Retail Space in Commercial Corridor For Lease
    $16 SF/Yr
    7,828 SF

    Retail Space in Commercial Corridor

    Former Aaron’s space in a busy commercial area.

    3364 Central Ave, Hot Springs, AR
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    Property ID
    US05-0067398
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • AutoZone Auto Parts / Auto Parts Store

    Property Details for 3364 Central Ave

    Year built
    2002
    Lot size
    0.99 lot acres
    Property size
    13,178 SF
    Property type
    Retail space
    APN
    300-07718-000C
    APU
    30007718000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,735,000
      6.5%
      $1,600,000
      7%
      $1,485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,358,000
      Market price range: $368k - $1.68M
      AI Estimate
      $811,000
      Market price range: $316k - $1.03M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,095,000
      Current use
      OFFICE BUILDING
      $1,860,000
      Change: +70% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,610,000
      Change: +47% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0604
    Latitude
    34.4734
    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
    $11,700
    $107,190
    $151,650
    $258,840
    -
    $535,950
    $758,250
    $1,294,200

    Comparable in this City

    • Value Estimation by Request
      1,464 SF

      116 Albert Pike Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,464 SF
      116 Albert Pike Rd, Hot Springs, AR 71913-3822
      View Details
    • Value Estimation by Request
      1,800 SF

      4048 Albert Pike Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      4048 Albert Pike Rd, Hot Springs National Park, AR 71913-9563
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    • Value Estimation by Request
      1,336 SF

      510 Albert Pike Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,336 SF
      510 Albert Pike Rd, Hot Springs, AR 71913-3814
      View Details
    • Value Estimation
      $755,000
      6,936 SF

      101 Airport Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,936 SF
      101 Airport Rd, Hot Springs, AR 71913-4062
      View Details
    • Value Estimation by Request
      18,564 SF

      108 Airport Rd

      RETAIL STORES (PERSONAL SERVICES) • 18,564 SF
      108 Airport Rd, Hot Springs, AR 71913-4061
      View Details
    • Value Estimation by Request
      4,400 SF

      305 Airport Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      305 Airport Rd, Hot Springs, AR 71913-4058
      View Details

    Similar Nearby for Sale

    • $4,939,000
      6,549 SF

      Retail Investment Opportunity

      Retail property with long-term leases and strong tenant profiles.
      4104 Central Ave, Hot Springs National Park, AR 71913
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    • $1,875,000
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      Remodeled Commercial Building in Hot Springs

      15,000 SF remodeled building suitable for various business models.
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      Commercial Property on Albert Pike Road

      High-traffic location, flexible layout, ideal for various businesses.
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    • Contact for pricing
      2,800 SF

      Retail Space Near Oaklawn Casino

      New construction retail space with long-term corporate lease.
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      Hot Springs Commercial Building For Sale

      3,960 SF building on 0.72 acres in Hot Springs.
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    • $999,000
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      Retail Building on Central Avenue

      Retail building on corner lot with high traffic and visibility.
      5462 Central Ave, Hot Springs, AR 71913
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    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Building with Open Layout

      5,000 SF retail building with ample parking and signage.
      5917 Central Ave, Hot Springs National Park, AR 71913
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      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
    • Contact for pricing
      3,640 SF

      Versatile Flex Space Available

      Three buildings for lease with yard space in Hot Springs.
      137 Stonewall St, Hot Springs, AR 71913
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    • Contact for pricing
      850 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
    • Contact for pricing

      Retail Space in South Ridge

      Retail space for lease in a well-situated Hot Springs location.
      5401 Central Ave, Hot Springs, AR 71913
      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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