# 228 Prospect Avenue, Hot Springs, AR 71901

> **TL;DR:** commercial, $325,000 ($43/sqft), built 1890, 7,520 sqft. Est. $1,408/mo. Listed 84 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $325,000 |
| Price/sqft | $43 |
| Square Feet | 7,520 |
| Year Built | 1890 |
| Lot Size | 8,276 sqft (0.19 acres) |
| Stories | 3 |
| Property Type | Commercial (Other) |
| Status | For Sale |
| Days on Market | 84 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,408 |
| **Total** | **$1,408** |

## Property Highlights

- Built in 1890
- 0.19 acre lot
- 3 stories

## Description

### Agent 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

- **Address:** 228 Prospect Avenue, Hot Springs, AR 71901
- **County:** Garland
- **Coordinates:** 34.510421, -93.055964
- **Google Maps:** https://www.google.com/maps?q=34.510421,-93.055964

## Listing Agent

- **Name:** Susan Bariola
- **Brokerage:** McGraw Realtors - HS
- **Phone:** 5013506562
- **Email:** sbariola@mcgrawrealtors.com

## Primary Photo

![228 Prospect Avenue - Primary Photo](http://lh.rdcpix.com/275fbd42af15f2c6e74465e116e99079l-f1012602918r.jpg)

*3 total photos available on [listing page](https://www.propertysimple.com/listing/228-prospect-avenue-hot-springs-ar-71901-26003458)*

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**MLS#:** 26003458 | **Updated:** 2026-04-25
**Source:** listhub

*Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/228-prospect-avenue-hot-springs-ar-71901-26003458)

---

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