620 Grand AveHot Springs, AR 71901

Property Details for 620 Grand Ave

Year built

1940

Lot size

0.07 AC

Property size (Sq ft)

2,409 SF

Property type

Retail space

APN

400-02800-004-000C

APU

40002800004000C

Description

This exceptional mixed-use property, located at 620 W Grand Avenue in Hot Springs, Arkansas, presents a compelling investment opportunity. The 2,409 square foot building, constructed in 1940, sits on a 0.15-acre lot and is zoned for commercial use. Currently configured as a doctor's office, the space boasts a welcoming reception area, a comfortable waiting room, and multiple exam rooms, making it ideally suited for medical practices, legal offices, or accounting firms. The building's layout includes ample storage space, catering to the needs of various professional businesses. The property's Class D designation reflects its potential for renovation and modernization, offering a chance to enhance its value and appeal. Situated in a high-traffic area near the courthouse and numerous amenities, this location ensures excellent visibility and accessibility. The asking price is $349,000, translating to $144.87 per square foot. The property consists of one single-story building with two units, providing flexibility for potential expansion or multi-tenant occupancy. This is a rare chance to acquire a well-positioned commercial property in a thriving Arkansas city. The existing infrastructure, including the reception and exam rooms, provides a significant head start for any prospective business owner. Don't miss this opportunity to own a piece of Hot Springs' commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $308,696

  6.5%

  $284,950

  7%

  $264,596

• Comparable approach

  Method

  Valuation

  Relative Method

  $434,236

  Geo Method

  $434,236

• Alternative Use

  Use

  Valuation

  Residential

  $240,366

  Hospitality

  $220,174

  Educational

  $183,182

  Medical

  $189,482

  Retail

  $284,950

Location Insight

City

Hot Springs

County

Garland

State

Arkansas

Latitude

34.5023

Longitude

-93.0636

CBSA code

26300

CBSA name

HOT SPRINGS, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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