260 Central Ave Hot Springs, AR 71901
Property details
About 260 Central Ave
Federal & State Historic Tax Credit approved. Ground level is in the Highest foot traffic with 4 retail tenants producing long term rental income and the lobby for upstairs. 80 +/- units on floors 2-5 for redevelopment opportunity in the heart of downtown Hot Springs National Park, Arkansas just across from the thermal springs that made it famous. Street level retail is nicely updated and fire sprinkled. Upper floors with incredible Carrera Marble, common hallways with original pristine Mosaic tile floors, vast National Park mountain views with lush greenery, adjacent architecture sights and on South facing side views as far as the eye can see. Every unit has high ceilings, sensible floor plan opportunity + several original bathrooms in tact. There is an elevator shaft and original elevator car. There are 2 skylights, one is stained leaded glass. Preservation work such as retail spaces remodeled to current code, debris removal, some basement work and TPO Membrane roofing. The last building in downtown of this magnitude. Most all downtown buildings have sold, are redeveloped, being held for future plans or are in process of remodel. An Aloft Hotel is begun a couple doors up. 256, 258, 260, 262 & 264 Central Avenue Hot Springs National Park, Arkansas 71901 *mostly tourist town with 2 million plus visitors/year *immediate paved walking or mountain hiking & biking trails *neighboring restaurants, hotels & shopping *public springs for drinking water *incredible air quality *overall relaxed informal area *casino/Thoroughbreds *lake area The long term investment will certainly provide for generational wealth transfer.
Highlights
(ACTIVE)
Summary
- MLS Number: 147258
- MLS Name: HotSprings
- Office Name: Rix Realty - Advantage Team Realtors
- Office Phone: (501) 205-1900
- Listing Agent: Chris Rix
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$2,750,000
260 Central Ave
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Price information
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Nearby schools
4
Langston Elementary Leadership Academy
Public Magnet PK-6
1.0 mi
•120 Chestnut St
7
Park Magnet IB World School
Public Magnet PK-6
2.2 mi
•617 Main St
4
Main Street Visual and Preforming Arts Magnet School
Public Magnet PK-6
2.3 mi
•301 Oaklawn St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $20,567. The most common annual income of people living in Hot Springs, AR is less than $<35k. Typical family type is single, no kids. Typical level of education for residents in this area is high school diploma.
Frequently asked questions
Living in Hot Springs, AR
About 260 Central Ave
This home is located at 260 Central Ave in Hot Springs, AR and zip code 71901. This 48,632 square foot home was built in 1895. Features: 80 bedrooms, 84 bathrooms. It has been listed on Rocket Homes since February 20, 2025 and is currently priced at $2,750,000.
In February 2025 more than 3 listings in Hot Springs, AR were sold above the asking price. During the same period more than 13 listings were sold at asking price, while more than 36 were sold below. In February 2025 in Hot Springs, AR there were 72.2% more homes for sale than in January. While the average time on the market in February 2025 was 94 days, the median list price was $202,811.