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Property profile & analytics
FOR LEASE
Outlet malls
628 Malvern Ave, Hot Springs, AR 71901
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US05-0012898
For Lease
1 / 2
$9 SF/Yr
628 Malvern Ave, Hot Springs, AR 71901
View Listing →
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1965
Total area
22,140 SF
Lot
2.92 ac (127,282 SF)
APN
400-32350-006-000C
UPID
US05-0012898
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lookadoo Lizabeth Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.69M
Comparable Approach
Comparable
$2.87M
Blend (final)
Blend
$2.50M
Owner & transaction history
Remzi T Bilgin · 20 yrs held
Remzi T Bilgin
since 2006
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+25.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hot Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hot Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,915,000
6.5%
$2,690,000
7%
$2,495,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,155,000
Current use
COMMERCIAL (GENERAL)
$2,700,000
Change: +25% · Conversion: Easy
OFFICE BUILDING
$2,005,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$113 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$17,755
Tax year 2024
Assessed value
$392,810
Assessed 2024
Previous assessed
$392,810
+0.0% YoY
Effective rate
4.52%
On assessed value
Assessed land
$131,330
Assessed improvement
$261,480
Land market value
$656,650
Improvement market value
$1,307,400
Total market value
$1,964,050
Applied tax rate
61.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Lease
Year built
1965
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
22,140 SF
Lot
2.92 ac (127,282 SF)
APN
400-32350-006-000C
UPID
US05-0012898
Jurisdiction
GARLAND
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
2.92 ac
Current owner
From public records · entity-resolved
Remzi T Bilgin
Individual
Mailing address
5094 BUCKLEY DR, YPSILANTI, MI 48197-6814
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2006
$1,865,000
Remzi T Bilgin
National Park Properties LLC
Warranty Deed
$1,110,138 · Regions Bank
Mar 17, 2003
$1,875,000
National Pk Props LLC
Owner Name Unavailable
Warranty Deed
related
—
—
—
Remsi T Bilgin
—
Deed Of Trust
related
$764,692 · Simmons First Bank
—
—
Remzi T Bilgin
—
Loan Modification
related
—
—
—
National Park Properties LLC
—
Deed Of Trust
related
$1,406,000 · Us Bank NA
—
—
Bilgin,remzi T
—
Deed Of Trust
related
$813,000 · Simmons First Bk/hot Spgs
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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