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    Turnkey Tanning Salon For Lease Title is generated by Realmo AI

    30 E OLIVE Street, Canton, IL 61520

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    COMMERCIAL - Canton, IL

    Lot size:
    0.07 Acres
    Added:
    May 17, 2026
    Days on Market:
    5
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 30 E OLIVE Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    B2
    Parking
    7
    Standard status
    Active
    APN
    09-08-27-218-018
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1361

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Flooring type
    Tile
    Building materials
    Vinyl Siding, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Amber Neal
    Amber Neal

    Listing agent Amber Neal License #475178998

    Listing office Jim Maloof Realty, Inc. 803 W Pioneer Parkway, Peoria, IL

    Listing date May 17, 2026

    MLS# PA1266582

    Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey tanning salon business opportunity in a prime Canton location.
    • Includes 10 tanning beds, featuring 4 new beds, a standing bed, and a red light therapy bed.
    • Nail technician on‑site provides monthly income to offset investment.
    • Located in TIF District and TIF 2 Chestnut district.
    • Property is for lease with negotiable terms, including options for equipment.
    • Seller willing to sell the building without equipment; price negotiable.

    Overview

    This turnkey tanning salon, situated in the heart of Canton, Illinois, presents a business opportunity in a prime location. The property is available for lease, with negotiable terms that may or may not include the existing equipment. The salon features 10 beds, including 4 new beds, a standing bed, and a red light therapy bed. A nail technician is currently on-site and contributes monthly to offset investment costs. The property is located within both a TIF District and the TIF 2 Chestnut district. The lot size is 0.07 acres. The zoning is B2. The seller is also willing to sell the building without equipment, and the price is negotiable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Spa & wellness properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Graham Cardiac and Pulmonary Rehab — 180 S Main St, Canton, IL 61520
    • Psychology Specialists — 180 S Main St 4th Floor, Canton, IL 61520

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Fulton
    State
    Illinois
    Longitude
    -90.03563
    Latitude
    40.562305

    FAQs

    What type of property is this?
    Spa & wellness property - Tanning salon in Canton, IL, with equipment included.
    Where is this spa & wellness property located?
    The property is located at 30 E OLIVE Street Canton, IL.
    What are key features of this property?
    This property features: Turnkey tanning salon business opportunity in a prime Canton location.; Includes 10 tanning beds, featuring 4 new beds, a standing bed, and a red light therapy bed.; Nail technician on‑site provides monthly income to offset investment.
    (309) 696-9310
    We can help!
    Listing Contact
    Amber Neal
    Amber Neal
    Real Estate License ID: 475178998
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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