Spa & Wellness Property with Gaming
For Sale
$360,000
1103 E Acton Avenue, Wood River, IL 62095
Corner-positioned property near major retailers and restaurants, with a 20-year tanning operation and a private gaming room.
Property Size2,728 SF
Days on Market178
Property Features for 1103 E Acton Avenue
General Information
Standard status
Active
Size
2,728 SF
Total Parking Spaces
15
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$4,171
Building Details
Building Size
2,728 SF
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
Gori Realtors, LLC
(618) 920-2562
Listed By:
Bob Rohrkaste · License #471009650
(618) 920-2562
Source:
Century21laclede
Added: Mar 5
Changed: Aug 29
Last Checked: Aug 29 at 1:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gori Realtors, LLC
Investment Insights
Based on property information with market context.
This 1975-built property houses Sun Catcher's Tanning, which has operated at the location for more than 20 years. A private gaming room, Sunny's Gaming, was added within the past year. The offering provides the option to acquire the building alone or together with the existing businesses.
The property is located at 1103 E Acton Avenue in Wood River, near the intersection of Hwy 111 and E Edwardsville Rd. Nearby businesses include Walgreens, Hardee's, Burger King, McDonald's, and Scooter's Coffee. The corner setting and established commercial surroundings support continued operation of the existing uses, subject to applicable requirements.
The property is located at 1103 E Acton Avenue in Wood River, near the intersection of Hwy 111 and E Edwardsville Rd. Nearby businesses include Walgreens, Hardee's, Burger King, McDonald's, and Scooter's Coffee. The corner setting and established commercial surroundings support continued operation of the existing uses, subject to applicable requirements.
Key Highlights
- Sun Catcher's Tanning has operated at the property for over 20 years
- Private gaming room added within the past year
- Building may be purchased alone or with the existing businesses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,992
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$419,840
$419.8K
Cap Rate 7%
$299,886
$299.9K
Cap Rate 9%
$233,244
$233.2K
Market Conditions
NOI Build-Up for 2,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.1K $18.00/SF
− Vacancy
−$4.9K −$1.80/SF
EGI
$44.2K $16.20/SF
− OpEx
−$23.2K −$8.51/SF
NOI
$21.0K $7.69/SF
Area
Madison County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$419,840
Cap Rate 7%
$299,886
Cap Rate 9%
$233,244
Alternative Uses
Best Use
Hotel Hospitality
$299.9K
$262.4K – $349.9K
NOI $20,992 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.6K
$650.6K – $867.5K
NOI $52,050 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62095, IL
11,060
Population
5,186
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
1,558
Density / Sq Mi
$66,641
Median Household Income
$41,932
Median Earnings
$919
Median Rent
$106,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Corner-positioned property near major retailers and restaurants, with a 20-year tanning operation and a private gaming room.
Where is this spa & wellness property located?
The property is located at 1103 E Acton Avenue Wood River, IL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Sun Catcher's Tanning has operated at the property for over 20 years; Private gaming room added within the past year; Building may be purchased alone or with the existing businesses
