Turnkey Salon with Connecting
For Sale
Contact for pricing
1703 10th Ave, Fulton, IL 61252
Fully renovated salon on a corner lot with a spacious waiting area, multiple stations, and two connecting suites for flexible use.
Property Size2,160 SF
Price / SF$108.75
Days on Market57
Property Features for 1703 10th Ave
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Office, Retail
Zoning
Light Industrial
Investment Type
Owner/User
Building Details
Year Built
1994
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
The Hawkeye Group
Listed By:
Shawn Stuenkel, CCIM · License #475189483
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 10 at 3:18PM
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 The Hawkeye Group
Investment Insights
Based on property information with market context.
This turnkey salon has been fully renovated and is configured for beauty service operations. Inside, you’ll find a spacious waiting area, six stylist stations, and two wash stations. The unit also includes a kitchenette and laundry, supporting day-to-day workflow. In addition to the main salon space, the property offers two additional connecting suites, giving an owner-operator or buyer room to expand usage within the same building.
The property sits on a corner lot with high visibility from IL Rt. 84, which can help support walk-in traffic and brand presence for retail-oriented service businesses. With a storefront-focused setup and multiple internal suites, it offers a straightforward layout for a single operator or a multi-room configuration.
For an owner-user, the connecting suites provide practical flexibility to add services, lease space, or separate operations while keeping everything under one roof. For investors, the presence of the additional suites can support income diversification compared to a single-suite setup, while still maintaining the convenience of a turnkey, renovated salon environment.
The property sits on a corner lot with high visibility from IL Rt. 84, which can help support walk-in traffic and brand presence for retail-oriented service businesses. With a storefront-focused setup and multiple internal suites, it offers a straightforward layout for a single operator or a multi-room configuration.
For an owner-user, the connecting suites provide practical flexibility to add services, lease space, or separate operations while keeping everything under one roof. For investors, the presence of the additional suites can support income diversification compared to a single-suite setup, while still maintaining the convenience of a turnkey, renovated salon environment.
Key Highlights
- Year built 1994
- Fully renovated salon on a corner lot with high visibility from IL Rt. 84
- Salon includes a spacious waiting 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
$17,963
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
7.65%
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%
$359,260
$359.3K
Cap Rate 7%
$256,614
$256.6K
Cap Rate 9%
$199,589
$199.6K
Market Conditions
NOI Build-Up for 2,160 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
$28.5K $13.20/SF
− Vacancy
−$2.9K −$1.32/SF
EGI
$25.7K $11.88/SF
− OpEx
−$7.7K −$3.56/SF
NOI
$18.0K $8.32/SF
Area
Whiteside County, IL
Vacancy
10.00%
Lease Rate
$13.20 /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%
$359,260
Cap Rate 7%
$256,614
Cap Rate 9%
$199,589
Alternative Uses
Best Use
Retail
$256.6K
$224.5K – $299.4K
NOI $17,963 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$404.1K
$353.6K – $471.4K
NOI $28,285 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 61252, IL
5,436
Population
2,772
Households
2
Avg Household Size
45
Median Age
19%
College-Educated
89%
High-School Grad
58.7 sq mi
ZIP Area
93
Density / Sq Mi
$62,202
Median Household Income
$40,943
Median Earnings
$946
Median Rent
$143,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully renovated salon on a corner lot with a spacious waiting area, multiple stations, and two connecting suites for flexible use.
Where is this retail space located?
The property is located at 1703 10th Ave Fulton, IL.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Year built 1994; Fully renovated salon on a corner lot with high visibility from IL Rt. 84; Salon includes a spacious waiting area
