Rental Analysis: The Quapaw Bathhouse, Central Avenue

L.T. Bookhout, Inc.

Hot Springs National Park was once known as Hot Springs Reservation. It was set aside in 1832 to protect the Park's primary resource, the hot springs. This type of Reservation was an early version of the National Park idea.Hot Springs was actually the first area in the United States to be set aside for its natural features.After Yellowstone was formed in 1872, Hot Springs was managed with it. In 1916 the National Park Service was formed and in 1921, Hot Springs Reservation changed its name to Hot Springs National Park, making it the 18th National Park in the Service. This Rental Analysis concerns the Quapaw Bathhouse. The property is in the ownership of the United States Government under the control of the National Park Service. The purpose of this market research and analysis is to estimate a reasonable fair market rent on a long term basis as of May 1, 1986. The rental analysis is for this structure; 1. in its "as is" condition; 2. subject to the external facade easement appropriate for historically sensitive property; 3. limitations of interior/property use as established by the National Park Service and/or the United States Congress; 4. subject to certain interior areas that must be kept intact in accordance with the Technical Report; 5. not to include any land other than that upon which the structure is located; 6. without any provision for parking; 7. including temporary use of that land around the structure necessary for rehabilitation/renovation/repairs and maintenance during the terms of the lease and any renewals thereto. Based upon the available data, it is concluded that the fair market rental of this facility is $8400 per year.

Rental Analysis: The Quapaw Bathhouse, Central Avenue

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