3
See all 3 photos
$250,000
Est. payment /mo
7,520 SqFt
Price Dropped by $75K
228 Prospect Avenue Hot Springs, AR 71901
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Building and Land
Listing Status Active
Purchase Type For Sale
Square Footage 7,520 sqft
Price per Sqft $33
MLS Listing ID 26003458
Year Built 1890
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Building and Land
Property Description
Steeped in history and timeless character, 228 Prospect Avenue, famously known as the Knickerbocker Building, dates back to the 1920s and stands as a remarkable piece of architectural heritage. This iconic property offers a rare opportunity to own a historically significant building with limitless potential in a highly desirable location. Zoned commercial, the property provides exceptional flexibility for a variety of uses, including the ability for new owners to pursue short-term rental licenses and permits, subject to city approval. Whether envisioned as a boutique STR, mixed-use development, or creative commercial venture, the Knickerbocker Building presents a compelling canvas for restoration, reinvention, or expansion. With its rich past, enduring presence, and favorable zoning, 228 Prospect Avenue is an outstanding opportunity for investors or visionaries seeking to blend history with future-forward possibilities in a growing market. Sellers have 60K worth of plans for this property that will convey with the sale.
Location
State AR
County Garland
Area Hot Springs School District
Building
New Construction No
Listed by McGraw Realtors - HS • Susan R Bariola