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

    638 Ouachita Ave Hot Springs, AR 71901-3920

    • Motels
    • 7,209 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    Jan 08, 2021
    $1,050,000
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    3.7%
    Motels
    Location Intelligence
    Property ID
    US05-0041030
    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

    • Best Court / Hotel & Motel

    Property Details for 638 Ouachita Ave

    Year built
    1933
    Lot size
    0.58 lot acres
    Property size
    7,209 SF
    Property type
    Motels
    APN
    400-34400-008-000
    APU
    40034400008000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $810,000
      ML approach
      $755,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $495,000
      6.5%
      $455,000
      7%
      $425,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $875,000
      RESTAURANT
      $570,000
      OFFICE BUILDING
      $565,000
      AUTO REPAIR, GARAGE
      $550,000
      RETAIL STORES
      $475,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Garland
    State
    Arkansas
    Longitude
    -93.0619
    Latitude
    34.5036
    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
    $7,618
    $25,220
    $143,330
    $168,550
    -
    $126,100
    $716,650
    $842,750

    Comparable in this City

    • Value Estimation by Request
      2,975 SF

      329 Quapaw Ave

      MOTEL • 2,975 SF
      329 Quapaw Ave, Hot Springs, AR 71901-5223
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    • Value Estimation by Request
      1,600 SF

      404 Reserve St

      Motels • 1,600 SF
      404 Reserve St, Hot Springs, AR 71901
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    • Value Estimation by Request
      5,052 SF

      1611 Central Ave

      MOTEL • 5,052 SF
      1611 Central Ave, Hot Springs, AR 71901-6117
      View Details
    • Value Estimation
      $1,400,000
      23,734 SF

      2520 Central Ave

      MOTEL • 23,734 SF
      2520 Central Ave, Hot Springs, AR 71901-7512
      View Details
    • Value Estimation by Request
      9,490 SF

      231 Fountain St

      MOTEL • 9,490 SF
      231 Fountain St, Hot Springs, AR 71901-3520
      View Details
    • Value Estimation by Request
      4,576 SF

      1535 Central Ave

      MOTEL • 4,576 SF
      1535 Central Ave, Hot Springs, AR 71901-6147
      View Details

    Similar Nearby for Sale

    • $1,000,000
      6,396 SF

      Historic Hot Springs Motel Court

      16-unit motel with residence and office on historic registry.
      857 Park Ave, Hot Springs, AR 71901
      View Details
    • $1,850,000
      8,974 SF

      Historic Motor Lodge in Hot Springs

      Charming 19-room boutique motor lodge in historic district.
      741 Park Ave, Hot Springs, AR 71901
      View Details
    • $1,750,000
      10,466 SF

      Historic Bed & Breakfast Opportunity

      Established bed and breakfast in a prime historic district.
      420 Quapaw Ave, Hot Springs, AR 71901
      View Details
    • $774,900
      4,284 SF

      Historic Hot Springs Bed & Breakfast

      Turnkey bed and breakfast near downtown Hot Springs National Park.
      318 Quapaw Ave, Hot Springs, AR 71901
      View Details
    • New
      $1,490,000
      7,524 SF

      Turnkey Hot Springs Short-Term Rental

      Fully furnished, licensed short-term rental property in Hot Springs, AR.
      226 Prospect Ave, Hot Springs, AR 71901
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    • $2,300,000
      7,176 SF

      Hot Springs Bed & Breakfast Estate

      Restored 1910 Craftsman on 5.5 acres near National Park.
      2009 Park Ave, Hot Springs, AR 71901
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    Similar Nearby for Lease

    • $4,975 /Mo
      4,704 SF

      Retail Space in Hot Springs

      Retail space in growing area near downtown and convention center.
      249 Ouachita Ave, Hot Springs, AR 71901
      View Details
    • $15 SF/Yr
      70,310 SF

      Hot Springs Office Space

      Prime Downtown Office Suites Available
      835 Central Ave, Hot Springs, AR 71901
      View Details
    • $16 SF/Yr
      10,898 SF

      Medical Office Space for Rent

      Medical office space available in Doctor’s Medical Park.
      130 Medical Park Pl, Hot Springs, AR 71901
      View Details
    • $3 SF/Yr
      101,475 SF

      Industrial Space with Secured Yard

      Industrial property featuring a secured laydown yard and rail access.
      153 Extrusion Pl, Hot Springs, AR 71901
      View Details
    • $9 SF/Yr
      1,600 SF

      Downtown Hot Springs Office Space

      Office space for lease near downtown Hot Springs.
      628 Malvern Ave, Hot Springs, AR 71901
      View Details
    • $875 /Mo
      875 SF

      Retail Spaces Near Downtown

      Retail spaces available near downtown and Backwoods Trail system.
      879 Park Ave, Hot Springs, AR 71901
      View Details
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    638 Ouachita Ave
    Hot Springs, AR 71901-3920
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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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