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OFFERING MEMORANDUM
THE BELLE RIVERBOATBrian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
LAKESIDE RESTAURANT
5200 Central Avenue, Hot Springs, Arkansas
Brian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
5200 Central Avenue, Hot Springs, Arkansas
PROPERTY HIGHLIGHTSBrian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
ASSET DESCRIPTION
The Belle of Hot Springs is a 250-passenger three-level dinner and cruise riverboat. The open-air upper deck offers panoramic views of beautiful Lake Hamilton and plenty of seating for a relaxing cruise. The two lower decks are climate controlled with tables, booths, a bar on each level and a dancing area.
The Belle is called a riverboat because it has gas propellers rather than a paddle wheel. It was built in Iowa in 1960. It has twin diesel engines, a shallow draft and a blunt, rounded bow that docks face-first so passengers can just step on and off. It is wheelchair accessible when the lake is up from April to October.
Gilligan’s on the Lake is a quaint café style restaurant that currently serves burgers, pizza and barbeque. The restaurant offers indoor and outdoor seating with a walk-out patio to enjoy the picturesque lake. Gilligan’s is located in the lower level of a 4,000sf building with the Belle office and Gift Shop in the upper level. There is plenty of parking with spaces for trucks and boat trailers. There are also few boat slips for those that want to access the restaurant or gift shop from the lake.
5200 Central Avenue, Hot Springs, Arkansas
Brian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
ABOUT THE AREA
The Property is located at 5200 Central Avenue (State Hwy 7) in Hot Springs, Arkansas and contains approximately 1.286 acres. It has around 560’ of frontage on Lake Hamilton and 360’ of highway frontage. It has a unique location on a Lake Hamilton peninsula on the main channel of the lake. The traffic count on Central Avenue is over 19,000 vehicles per day. The building is a 2-story structure with 2,017sf on each level.
Lake Hamilton is one of Arkansas's most popular recreational and residential lakes. Much of it is ringed with condominiums, resorts, motels, restaurants and private homes. State Scenic 7 Byway crosses the lake. Hill Wheatley Park, located on the shore, has a popular swim area with a man-made sandy beach, picnic facilities and restrooms. Water-skiing, pleasure boating and fishing are popular Hot Springs attractions on Lake Hamilton and rentals of watercraft and sport accessories are readily available.
Hot Springs is a city in the Ouachita Mountains of Arkansas. It’s known for naturally heated springs, many of them in Hot Springs National Park to the north. Hot Springs has a population of around 35,000 and is the county seat for Garland County, Arkansas.
5200 Central Avenue, Hot Springs, Arkansas
Brian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
5200 CENTRAL AVENUE, HOT SPRINGS, ARKANSAS
PROPERTY DETAILS
OVERVIEW:This listing includes the Belle of Hot Springs Riverboat plus 1.28 +/- acres of land with frontage on Central Avenue (Hwy 7) and Lake Hamilton and improvements which include Gilligan’s Restaurant, Belle offices and gift shop and the boat docks.
LOCATION:5200 Central Avenue, Hot Springs, Arkansas
TAX INFORMATION:Property ID – 4892
Annual Taxes – $11,360.10 (2017)
Appraised Value – $2,210,000 (2016)
SITE DATA:Land Size – 1.286 Acres +/-
Frontage – 360’ +/- on Hwy 7 (Central Avenue)560’ +/- on Lake Hamilton
Traffic Count - 19,000 vpd (2017 Avg)
Zoning - Outside City Limits
IMPROVEMENTS:Building –
Ticket Office and Gift Shop – 2,017sfGilligan’s Restaurant - 2,017sfTotal Building - 4,034sf +/-
Parking – Over 30 spaces including oversized spaces
Docking – Riverboat docking with ramp10 slip boat dock for patrons
RIVERBOAT:Building –
Ticket Office and Gift Shop – 2,017sfGilligan’s Restaurant - 2,017sfTotal Building - 4,034sf +/-
Parking – Over 30 spaces including oversized spaces
Docking – Riverboat docking with ramp10 slip boat dock for patrons
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or acres are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Agency Disclosure: Gehrki Commercial Real Estate represents the owner of the property described in the marketing information provided.
Brian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
CONTACT
1850 & 1860 Higdon Ferry Road, Hot Springs, Arkansas
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or acres are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Agency Disclosure: Gehrki Commercial Real Estate represents the owner of the property described in the marketing information provided.
Brian Gehrki, Principal [email protected]
Gehrki Commercial Real Estate835 Central Avenue, Suite 200Hot Springs, AR 71901501-623-2200Gehrki.com
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PRICE: $2,200,000THIS IS AN ASSET SALE ONLY
Brian J. Gehrki or Michael [email protected] [email protected]: 501.258.5500 mobile: 501.620.9226501.623.2200, 835 Central Avenue, Suite 200, Hot Springs, AR
Mike [email protected]