Property Description
Rare opportunity to acquire approximately 5 acres at the corner of Richard Street and Greenwood Avenue in Hot Springs, Arkansas. Formerly home to the Greenwood School, this property offers a unique combination of history, location, acreage, and redevelopment potential.
The site presents an excellent opportunity for residential or multifamily development, making it appealing to builders, developers, investors, and those looking for a larger in-town development tract. The property’s size and corner location provide flexibility for a variety of potential development concepts, subject to applicable zoning, land-use regulations, and city approvals. It is currently Zoned under the School Zoning. Topo Survey has been completed.
The former Greenwood School adds a distinctive historic character and story to the property, creating an opportunity to thoughtfully transform a well-known site into a new residential community or other compatible use. Whether envisioned as a multifamily project, residential development, or another redevelopment concept, this 5-acre tract offers the scale and visibility that are increasingly difficult to find within an established Hot Springs setting.
Conveniently positioned near Greenwood Avenue and Richard Street, and just a block off Albert Pike Road, the property provides an excellent opportunity for investors seeking land with redevelopment potential in Hot Springs. Bring your vision and explore the possibilities this former school property can offer.
Buyer and buyer’s agent to verify zoning, permitted uses, utilities, dimensions, access, and all development requirements with the appropriate city and county authorities. Property is being offered for sale as a development opportunity As-Is.
PROPERTY HIGHLIGHTS:
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