ATTENTION: REAL ESTATE INVESTORS, RETAILERS, DEVELOPERS!
Four (4) Prime Commercial Buildings in Downtown Hot Springs ~
Two Properties Across from Bathhouse Row & Two Across from The Porterhouse ~
Income Generating Properties in the Hot Springs Opportunity Zone! ~ Properties Offered Individually ~
All, Selling Regardless of Price to the Highest Bidders!
With over 3 Million people visiting Hot Springs every year, this auction is a rare opportunity to purchase a Central Avenue property at your price!
AUCTION LOCATION: The Hotel Hot Springs ~ 305 Malvern Avenue, Hot Springs, Arkansas, 71901
PROPERTY 1: 410 Central Avenue: 6,112+/- Square Foot, 2-Story Masonry Building Currently Leased for $1,525 Monthly ~ Directly Across from the Quapaw Bath & Spa ~ This Building is in the Hot Springs Central Avenue Historic District.
Plus, Four Apartments located above 410 Central Avenue (street address is 107 Exchange Street).
Apartment 1 – Rented for $1,200 Month-to-Month
Apartment 2 – Vacant
Apartment 3 – Rented for $850 Month-to-Month
Apartment 4 – Rented for $1,200 Month-to-Month
Total Monthly Rental Income: $4,775.00
PROPERTY 2: 424 Central Avenue: 6,896+/- Square Foot, 2-Story Masonry Building Including 2nd Floor Apartment ~ Across from the Ozark Bathhouse ~ Rented for $1,900 Month-to-Month ~ This Building is in the Hot Springs Central Avenue Historic District.
Plus, an Unfinished Apartment located above 424 Central Avenue (street address is 121 Exchange Street).
PROPERTY 3: 706 Central Avenue: 4,500+/- Square Foot, 2-Story Masonry Building Near Maxine’s and Across from the Hot Springs Visitor Center ~ Rented for $1,850 Month-to-Month ~ Upstairs is Unfinished ~ This Building is not in the Hot Springs Historic District.
PROPERTY 4: 726 Central Avenue: 4,100+/- Square Foot, 2-Story Masonry Building Currently Leased for $2,000 Monthly ~ Has a 5-year Lease commencing February 1, 2022 & ending January 31, 2027 ~ It has an Unfinished Apartment Upstairs ~ Across from The Porterhouse, just north of Bridge Street adjoining the Hot Springs City Parking Lot ~ This Building is not in the Hot Springs Historic District.
GREAT COMMERCIAL LOCATIONS ON HEAVILY TRAFFICKED CENTRAL AVENUE! ~ MORE INFORMATION COMING SOON! ~ Properties Shown by Appointment Only!
INSPECTION: Properties Shown by Appointment Only! ~ Auctioneers will be at The Hotel Hot Springs (305 Malvern Ave.) on Auction Day at 10:00 a.m. for Auction Registration ~ Any Question, Contact Broker Ken Bethge at 870-550-5274.
CLOSING COMPANY: Lenders Title Company ~ Closing Agent: Shanda Dunlap ~ 110 Ouachita Avenue, Hot Springs, Arkansas 71901 ~ (501) 624-2541 ~ Fax/ 623-4552.
REAL ESTATE TAXES FOR YEAR 2022:
410 Central Avenue: $4,310.45
424 Central Avenue: $5,269.31
706 Central Avenue: $1,747.16
726 Central Avenue: $1,931.13
TERMS: $50,000.00 (Per Property), All in the Form of a Cashier’s Check made Payable in Your Name or Wilson Auctioneers, Inc. Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ 10% Buyer’s Premium ~ Offers Prior to Auction Day are Welcome.
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