Updated Spa & Wellness
For Sale
$439,000
1544 N Mannheim Road, Stone Park, IL 60165
Currently configured for salon operations with client-service areas, restrooms, and nearby parking.
Property Size2,000 SF
Days on Market23
Property Features for 1544 N Mannheim Road
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Business Opportunity
Taxes and HOA fees
Annual Taxes
$15,065
Building Details
Building Size
2,000 SF
Stories
1
Listing Agency:
REMAX Legends
Listed By:
Ina Tore
Source:
Jjillrealtygroup
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 31 at 5:09PM
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 REMAX Legends
Investment Insights
Based on property information with market context.
Located at 1544 N Mannheim Road in Stone Park, Illinois, this approximately 2,000-square-foot commercial property is currently configured as a salon. The space includes 10 styling stations, 3 shampoo bowls, a manicure and pedicure area, two restrooms, and a kitchen. Ceramic flooring and updated finishes contribute to a clean, contemporary interior designed for ongoing service operations.
The property provides approximately 22 feet of street frontage along a commercial corridor, with convenient parking nearby. Its existing layout supports salon and barbershop operations and may also accommodate medical or professional services, wellness concepts, boutique fitness, and other service-oriented businesses, subject to applicable requirements.
The property provides approximately 22 feet of street frontage along a commercial corridor, with convenient parking nearby. Its existing layout supports salon and barbershop operations and may also accommodate medical or professional services, wellness concepts, boutique fitness, and other service-oriented businesses, subject to applicable requirements.
Key Highlights
- Approximately 2,000 square feet configured for salon operations
- 10 styling stations and 3 shampoo bowls
- Dedicated manicure and pedicure area
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
$27,760
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
6.32%
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%
$555,200
$555.2K
Cap Rate 7%
$396,571
$396.6K
Cap Rate 9%
$308,444
$308.4K
Market Conditions
NOI Build-Up for 2,000 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
$43.2K $21.60/SF
− Vacancy
−$3.5K −$1.77/SF
EGI
$39.7K $19.83/SF
− OpEx
−$11.9K −$5.95/SF
NOI
$27.8K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$555,200
Cap Rate 7%
$396,571
Cap Rate 9%
$308,444
Alternative Uses
Best Use
Retail
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.5K
$604.2K – $805.6K
NOI $48,336 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60165, IL
4,576
Population
1,364
Households
3.4
Avg Household Size
33
Median Age
8%
College-Educated
58%
High-School Grad
0.3 sq mi
ZIP Area
15,253
Density / Sq Mi
$75,165
Median Household Income
$34,744
Median Earnings
$1,222
Median Rent
$218,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Currently configured for salon operations with client-service areas, restrooms, and nearby parking.
Where is this spa & wellness property located?
The property is located at 1544 N Mannheim Road Stone Park, IL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Approximately 2,000 square feet configured for salon operations; 10 styling stations and 3 shampoo bowls; Dedicated manicure and pedicure area
