Flexible Salon and Office
For Sale
$120,000
312 W Wood St, Urbana, IA 52345
Salon-ready interior with multiple private spaces and an attached, fully rented one-bedroom apartment.
Property Size1,680 SF
Price / SF$71.43
Days on Market139
Property Features for 312 W Wood St
General Information
Standard status
Active
Size
1,680 SF
Taxes and HOA fees
Annual Taxes
$1,600
Listing Agency:
Pinnacle Realty LLC
(319) 721-3103
Listed By:
Adam Green
(319) 721-3103
Source:
Exprealty
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 10 at 7:33AM
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 Pinnacle Realty LLC
Investment Insights
Based on property information with market context.
This versatile commercial property is currently configured as a salon, with two styling stations, a wash station, a reception and waiting area, two private offices, and a lounge area. The interior layout is flexible, supporting a range of professional uses beyond personal services.
An attached one-bedroom apartment is fully rented, providing immediate income while the commercial space is available for an owner-operator or new tenant. The property is located at 312 W Wood St in Urbana, IA.
For buyers or operators seeking a flexible setup, the mix of reception/waiting, private offices, and salon-specific areas can accommodate service and professional businesses such as dog grooming, massage or chiropractic practice, an insurance agency, a professional office, or boutique retail. The attached residence also offers an on-site living option for an owner, in addition to the current rental arrangement.
An attached one-bedroom apartment is fully rented, providing immediate income while the commercial space is available for an owner-operator or new tenant. The property is located at 312 W Wood St in Urbana, IA.
For buyers or operators seeking a flexible setup, the mix of reception/waiting, private offices, and salon-specific areas can accommodate service and professional businesses such as dog grooming, massage or chiropractic practice, an insurance agency, a professional office, or boutique retail. The attached residence also offers an on-site living option for an owner, in addition to the current rental arrangement.
Key Highlights
- Current salon setup with two styling stations plus a wash station and reception/waiting area
- Includes two private offices and a lounge area for additional work or client space
- Attached one‑bedroom apartment is fully rented, providing immediate rental income
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
$8,068
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
6.72%
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%
$161,360
$161.4K
Cap Rate 7%
$115,257
$115.3K
Cap Rate 9%
$89,644
$89.6K
Market Conditions
NOI Build-Up for 1,680 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
$14.1K $8.40/SF
− Vacancy
−$3.4K −$2.00/SF
EGI
$10.8K $6.40/SF
− OpEx
−$2.7K −$1.60/SF
NOI
$8.1K $4.80/SF
Area
Benton County, IA
Vacancy
23.77%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
25.00%
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%
$161,360
Cap Rate 7%
$115,257
Cap Rate 9%
$89,644
Alternative Uses
Best Use
Office B
$115.3K
$100.9K – $134.5K
NOI $8,068 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$243.1K
$212.8K – $283.7K
NOI $17,020 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 52345, IA
1,572
Population
576
Households
2.7
Avg Household Size
34
Median Age
28%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
491
Density / Sq Mi
$112,929
Median Household Income
$53,646
Median Earnings
$774
Median Rent
$225,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Salon-ready interior with multiple private spaces and an attached, fully rented one-bedroom apartment.
Where is this spa & wellness property located?
The property is located at 312 W Wood St Urbana, IA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Current salon setup with two styling stations plus a wash station and reception/waiting area; Includes two private offices and a lounge area for additional work or client space; Attached one‑bedroom apartment is fully rented, providing immediate rental income
