618 Grand AveHot Springs, AR 71901

Property Details for 618 Grand Ave

Year built

1940

Lot size

0.06 AC

Property size (Sq ft)

704 SF

Property type

Retail space

APN

400-02800-005-000C

APU

40002800005000C

Description

This exceptional mixed-use property, located at 618 W Grand Ave in Hot Springs, Arkansas, presents a compelling investment opportunity. The 1,200 square foot building, constructed in 1940 and renovated within the last 10 years, sits on a 0.13-acre lot and is zoned for commercial use. Currently configured as a single unit office space, this property offers significant potential for a variety of uses. Its prime location on a busy street ensures high visibility and substantial foot traffic, with thousands passing by daily. The building's proximity to the courthouse and downtown Hot Springs further enhances its appeal. The asking price is $129,000. The property is classified as Class D and features one story. This is an ideal opportunity for an investor seeking a leasehold income stream or an entrepreneur looking to establish a thriving business in a high-demand location within the city limits of Hot Springs, Arkansas, zip code 71901. The property's size and location make it an attractive option for a variety of commercial ventures. Don't miss this chance to acquire a valuable asset in a thriving Arkansas market.

• CAP approach

  CAP return

  Valuation

  6%

  $90,212

  6.5%

  $83,273

  7%

  $77,325

• Comparable approach

  Method

  Valuation

  Relative Method

  $126,900

  Geo Method

  $126,900

• Alternative Use

  Use

  Valuation

  Residential

  $70,244

  Hospitality

  $64,343

  Educational

  $53,533

  Medical

  $55,374

  Retail

  $83,273

Location Insight

City

Hot Springs

County

Garland

State

Arkansas

Latitude

34.5023

Longitude

-93.0635

CBSA code

26300

CBSA name

HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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