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    5401 Central Ave Hot Springs, AR 71913
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    Property profile & analytics

    5401 Central Ave Hot Springs, AR 71913

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    • Strip malls
    • 12,930 SF
    • 1.38 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Retail Space in South Ridge For Lease
    $12 SF/Yr

    Retail Space in South Ridge

    Retail space for lease in a well-situated Hot Springs location.

    5401 Central Ave, Hot Springs, AR 71913
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    Property ID
    US05-2186490
    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

    • Doc Penny's Billiards / Arcade & Gaming Center
    • High Achievers legal cannabis / (Bike/Boat/Book/etc) Store
    • Simple Simon's Pizza / Take-out & Catering
    • Natural State Dance Company / Theater & Performing Art Venue / Training Center
    • Noelle Stephens - State Farm Insurance Agent / Insurance Agency

    Property Details for 5401 Central Ave

    Year built
    2001
    Lot size
    1.38 lot acres
    Property size
    12,930 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    200-38900-002-000
    APU
    20038900002000

    Description

    South Ridge Plaza, located at 5401 Central Ave in Hot Springs, Arkansas, offers a prime retail leasing opportunity. This multi-tenant strip retail center comprises three single-story buildings totaling 17,140 square feet on a 1.6-acre lot. Built in 2000 and renovated in 2019, the property features excellent visibility thanks to a prominent pylon sign along Highway 7. Currently, one 2,200 square foot suite is available for lease at $12 per square foot, including a tenant finish allowance. The space is currently unfinished. The plaza boasts ample parking and is handicap accessible. Its location on the busy Central Avenue corridor provides access to a substantial market, with over 16,700 households within a 5-mile radius exhibiting strong average incomes. This established commercial area in Hot Springs presents a compelling opportunity for businesses seeking high visibility and convenient access to a dense population base. Garland County location and zip code 71913.

    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 National Park
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0924
    Latitude
    34.4255
    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
    $9,328
    $60,040
    $147,720
    $207,760
    -
    $300,200
    $738,600
    $1,038,800

    Comparable in this City

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      2223 Albert Pike Rd, Unit AE

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      2223 Albert Pike Rd, Hot Springs, AR 71913-4004
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      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
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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

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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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      15,000 SF remodeled building suitable for various business models.
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      4,238 SF

      Industrial Building with Leased Store

      Industrial building with leased tobacco store on a 1.04-acre lot.
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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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      Retail Investment Opportunity

      Retail property with long-term leases and strong tenant profiles.
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    Similar Nearby for Lease

    • $6 SF/Yr
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      Hot Springs Retail Center For Sale/Lease

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      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center near national park.
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      Retail Space Near Major Anchors

      Retail space with high traffic and easy access.
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      Central Avenue Shopping Center Space

      14,700 SF shopping center with one space available.
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      Retail Space on Central Avenue

      9,664 SF retail suite with prime visibility on Central Ave.
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      14,019 SF

      Former Car Dealership For Rent

      14,019 SF commercial space ideal for retail or showroom.
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    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.

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