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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3604 Central Ave Hot Springs, AR 71913

    • Medical offices
    • 30,879 SF
    • 0.93 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Dec 28, 2020
    $2,900,000
    Value Estimations
    $2,710,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US05-2165461
    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

    • Evolve: Trisha Willis, LCSW / Mental Health Clinic
    • Dr. Mike McFarland / Ophthalmologist
    • McFarland Eye Care / Ophthalmologist / Lasik Surgeon
    • Mc Farland Optical: Parkhurst Gregory D MD / Lasik Surgeon
    • Nicole Meggers / Social Worker

    Property Details for 3604 Central Ave

    Year built
    1999
    Lot size
    0.93 lot acres
    Property size
    30,879 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    300-07798-000
    APU
    30007798000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,710,000
      ML approach
      $2,725,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,745,000
      OFFICE BUILDING
      $3,150,000
      RESTAURANT
      $2,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0606
    Latitude
    34.4684
    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
    $35,591
    $104,150
    $683,260
    $787,410
    -
    $520,750
    $3,416,300
    $3,937,050

    Comparable in this City

    • Value Estimation by Request
      62,855 SF

      1662 Higdon Fry Rd

      MEDICAL BUILDING • 62,855 SF
      1662 Higdon Fry Rd, Hot Springs, AR 71913-6999
      View Details
    • Value Estimation by Request
      130,476 SF

      1 Mercy Ln1e

      MEDICAL BUILDING • 130,476 SF
      1 Mercy Ln1e, Hot Springs, AR 71913-6442
      View Details
    • Value Estimation by Request
      130,476 SF

      1 Mercy Ln1a

      MEDICAL BUILDING • 130,476 SF
      1 Mercy Ln1a, Hot Springs, AR 71913-6442
      View Details
    • Value Estimation
      $380,000
      2,411 SF

      3401 Central Ave

      MEDICAL BUILDING • 2,411 SF
      3401 Central Ave, Hot Springs, AR 71913-6216
      View Details
    • Value Estimation
      $865,000
      130,476 SF

      1 Mercy Ln4e

      MEDICAL BUILDING • 130,476 SF
      1 Mercy Ln4e, Hot Springs, AR 71913-6442
      View Details
    • Value Estimation
      $270,000
      2,055 SF

      3401 Central Ave, Unit C

      MEDICAL BUILDING • 2,055 SF
      3401 Central Ave, Hot Springs, AR 71913-6216
      View Details

    Similar Nearby for Sale

    • $659,000
      3,800 SF

      Medical Office Space Near Hospital

      3800 SF medical office space near CHI St. Vincent Hospital.
      1 Mercy Mercy Ln, Hot Springs, AR 71913
      View Details
    • $174,000

      Charming Home in 55+ Community

      Located in a 55+ community, perfect for relaxed living.
      129 Century Cir, Hot Springs, AR 71913
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    • $165,000

      Charming Condo in 55+ Community

      Low-maintenance 2-bedroom, 2-bath condo in a well-maintained 55+ community.
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    • $450,000
      825 SF

      Central Avenue Commercial Property

      Commercial building and land near Oaklawn in Hot Springs.
      3520 Central Ave, Hot Springs, AR 71913
      View Details
    • $390,500
      1,776 SF

      Office Building on Higdon Ferry

      Office space for sale with high visibility and traffic.
      814 Higdon Ferry Rd, Hot Springs, AR 71913
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    • $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

    Similar Nearby for Lease

    • $18 SF/Yr
      7,083 SF

      Hot Springs Medical Office Sublease

      7,083 SF Medical Clinic - High Visibility
      154 Cornerstone Ln, Hot Springs, AR 71913
      View Details
    • $15 SF/Yr
      5,550 SF

      Office Space Near CHI Hospital

      5,550 SF office suite near CHI St. Vincent Hospital.
      115 Wrights St, Hot Springs, AR 71913
      View Details
    • $17 SF/Yr
      11,672 SF

      Medical Office Near CHI St. Vincent’s

      Medical office near hospital with private parking and storage.
      225 Mcauley Ct, Hot Springs, AR 71913
      View Details
    • Contact for pricing
      1,134 SF

      Medical Office Space Available

      Office space for rent near Highway 270 and CHI Hospital.
      1662 Higdon Ferry Rd, Hot Springs, AR 71913
      View Details
    • $18 SF/Yr
      2,070 SF

      Central Avenue Medical Office Space

      Multi-tenant medical office space available for lease on Central Ave.
      3604 Central Ave, Hot Springs, AR 71913
      View Details
    • $18 SF/Yr
      31,716 SF

      Hot Springs Office Space Available

      Prime Hot Springs location, multiple office suites.
      135 Section Line Rd, Hot Springs, AR 71913
      View Details
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    3604 Central Ave
    Hot Springs, AR 71913
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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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