803 Mineral St Hot Springs, AR 71901
- Motels
- 859 SF
Current Use by Public Records
- Motels
Property Details for 803 Mineral St
- Year built
- 1930
- Property size
- 859 SF
- Property type
- Motels
- APN
- 37291
Description
This charming 2-bedroom, 1-bathroom motel in Hot Springs, Arkansas, presents a fantastic investment opportunity. Built in 1930 and completely renovated in 2024, this 859-square-foot property boasts a strong 8.07% cap rate, generating a net operating income (NOI) of $16,099. The asking price is $189,500, translating to $220.61 per square foot and $94,750 per bedroom. Situated on a 7,289-square-foot lot (APN 37291), the motel is conveniently located at 803 Mineral St, Hot Springs, AR 71901, near hiking and biking trails and the vibrant downtown area. Currently operating as a licensed short-term rental (STR), this turnkey property is fully furnished and ready for immediate income generation. The property's residential zoning allows for potential expansion. The unfinished upstairs studio space offers a significant value-add opportunity, with the potential to add heated/cooled square footage and create an additional bedroom, increasing the property's revenue potential. This is a rare chance to acquire a profitable, established business with significant upside in a desirable location. The property's strong performance and renovation make it an attractive investment for both seasoned and new investors seeking a turnkey operation in the thriving Hot Springs market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hot Springs
- County
- Garland
- State
- Arkansas
- Longitude
- -93.046738
- Latitude
- 34.5335548
