For Sale
$399,000

130 Illinois StHot Springs, AR 71901

68-Unit Flex Warehouse, Price Reduced

Overview

Added:
Dec 11, 2024
Days on market:
117
This vacant, 8,500 square foot flex/warehouse property in Hot Springs, Arkansas, offers a compelling value-add investment opportunity. Located on 0.78 acres at 130 Illinois St, this two-building, single-story complex features 68 units and boasts a pro-forma cap rate of 15.82% and a pro-forma NOI of $63,115. Built in 1986, the property is zoned for mini-warehouse use and benefits from high visibility due to its location near Highway 70. Recent capital improvements enhance its appeal. The asking price is $399,000, translating to $46.94 per square foot and $5,867.65 per unit. The property's location in the vibrant Hot Springs MSA, known for its tourism and attractions, presents significant potential for future growth and strong returns. The property is currently vacant, allowing for immediate implementation of a leasing strategy. This is a gross lease property. APN: 400-20900-150-001.

Highlights

  • 8,500 SF flex/warehouse in Hot Springs, AR, on 0.78 acres.
  • High-visibility location near Highway 70.
  • Recent capital improvements.
  • Low price per square foot ($46.94/SF).
  • Strong potential for double-digit returns.

Property Details for 130 Illinois St

Property type
Warehouses, Self storage facilities
Square Feet
8,500 SF
Year Built
1986
Buildings
2
Stories
1
Lot Size (sq. ft)
33,977 SF
Units
68

Location Insight

City
Hot Springs
County
Garland
State
Arkansas
Latitude
34.517893
Longitude
-93.034784
130 Illinois St, Hot Springs, Arkansas

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130 Illinois St
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