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    3620 Central Ave Hot Springs, AR 71913-6089
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    Property profile & analytics

    3620 Central Ave Hot Springs, AR 71913-6089

    View on Map
    • Strip malls
    • 12,912 SF
    • 1.58 lot acres
    Off-Market
    Property ID
    US05-2230600
    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

    • Jeans and Java / Clothing & Fashion Store
    • Shannon's Jewelers of Hot Springs / (Bike/Boat/Book/etc) Store
    • Countryside Animal Hospital / Veterinary Clinic
    • Da Vinci Nail Spa And Massage / Nail Salon

    Property Details for 3620 Central Ave

    Year built
    2016
    Lot size
    1.58 lot acres
    Property size
    12,912 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    300-07799-000
    APU
    30007799000

    Description

    Diamond Landing, located at 3620 Central Ave in Hot Springs, Arkansas, presents a fantastic opportunity for businesses seeking a high-visibility retail or office space. This single-story, Class B building, constructed in 2016, offers a total of 12,912 square feet across five suites. Currently, a single, contiguous space of 2,065 square feet is available for lease. The property sits on a 1.58-acre lot and is situated near the MLK Jr. Expressway, benefiting from high traffic volume (26,000 vehicles daily). The property's convenient location ensures excellent accessibility and exposure for tenants. The building features ample parking, a significant advantage for customers and employees. The property's APN is 300-07799-000, and it is located in Garland County, Arkansas, zip code 71913. This is a multi-tenant, strip-retail, mixed-use property offering a great opportunity for a business to establish a strong presence in a busy Hot Springs location. The minimum divisible space is 2,065 square feet, and the maximum contiguous space available is also 2,065 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0602
    Latitude
    34.4677
    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
    $16,918
    $134,850
    $239,450
    $374,300
    -
    $674,250
    $1,197,250
    $1,871,500

    Comparable in this City

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      201 Franklin St

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      5,640 SF

      1539 Airport Rd

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      9,255 SF

      2223 Albert Pike Rd, Unit AE

      SHOPPING CENTER, STRIP CENTER • 9,255 SF
      2223 Albert Pike Rd, Hot Springs, AR 71913-4004
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    • Value Estimation by Request
      5,900 SF

      400 3rd St, Unit 406

      SHOPPING CENTER, STRIP CENTER • 5,900 SF
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      5,492 SF

      1340 Higdon Fry Rd

      SHOPPING CENTER, STRIP CENTER • 5,492 SF
      1340 Higdon Fry Rd, Hot Springs, AR 71913-6411
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    • Value Estimation by Request
      6,000 SF

      124 Hwy 171

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      124 Hwy 171, Hot Springs National Park, AR 71913-8601
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    Similar Nearby for Sale

    • $3,000,000
      36,610 SF

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      Prime Retail Center: Vacant, High Traffic
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    • $2,200,000
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      Hot Springs Shopping Center For Sale

      Commercial investment property with high occupancy in a prime location.
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      2,800 SF

      Retail Space Near Oaklawn Casino

      New construction retail space with long-term corporate lease.
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    • $4,939,000
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      Retail Investment Opportunity

      Retail property with long-term leases and strong tenant profiles.
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    • $695,000
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      Hot Springs Shop and Office

      1.70 acre property with shop and office space.
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    • $675,000
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      Hot Springs Commercial Land Investment

      11.53 Acres, Two Buildings, High Traffic
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    Similar Nearby for Lease

    • $6 SF/Yr
      36,610 SF

      Hot Springs Retail Center For Sale/Lease

      Prime retail space, high traffic, excellent visibility.
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      Central Avenue Shopping Center Space

      14,700 SF shopping center with one space available.
      3539 Central Ave, Hot Springs, AR 71913
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      2,388 SF

      Retail Space Near Major Anchors

      Retail space with high traffic and easy access.
      1412 Higdon Ferry Rd, Hot Springs, AR 71913
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    • 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
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      Retail Space on Central Avenue

      9,664 SF retail suite with prime visibility on Central Ave.
      3339 Central Ave, Hot Springs, AR 71913
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    • 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
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    Hot Springs, AR 71913-6089
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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.

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