Hair Salon
For Sale
$460,000
328 Bargraves Boulevard, Troy, IL 62294
An operating salon includes most of its equipment, fixtures, and appliances for continued commercial use.
Property Size2,400 SF
Price / SF$191.67
Days on Market109
Property Features for 328 Bargraves Boulevard
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
15
Property subtype
Commercial
Financials
Gross Income
$41,040
Business Included
Yes
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,748
Building Details
Year Built
2006
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX Alliance
(618) 656-2111
Listed By:
Kathy &Randy Malawy · License #471000298
(618) 977-2803
Source:
Finehomesbydawn
Added: Jul 8
Changed: Oct 23
Last Checked: Oct 23 at 5:20PM
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 RE/MAX Alliance
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Investment Insights
Based on property information with market context.
This 2006 retail building at 328 Bargraves Boulevard in Troy is currently used as a salon, with five tenant stylists and room for two additional stylists. Most salon equipment, fixtures, and appliances will remain. The approximately 2,400-square-foot interior is arranged to allow separation into two commercial suites of approximately 1,200 square feet each. Each side has an open layout, ceramic tile flooring, a kitchen or break area, and restroom facilities. About 15 on-site parking spaces serve customers and tenants.
The property is near shopping, restaurants, and other businesses in the Troy community. The existing salon operation and suite configuration are both part of the property’s current setup.
The property is near shopping, restaurants, and other businesses in the Troy community. The existing salon operation and suite configuration are both part of the property’s current setup.
Key Highlights
- Approximately 2,400 square feet, with potential division into two approximately 1,200‑square‑foot suites
- Five tenant stylists, with space for 2 more
- Most salon equipment, fixtures, and appliances remain with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,454
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,080
$589.1K
Cap Rate 7%
$420,771
$420.8K
Cap Rate 9%
$327,267
$327.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$43.2K $18.00/SF
− Vacancy
−$1.1K −$0.47/SF
EGI
$42.1K $17.53/SF
− OpEx
−$12.6K −$5.26/SF
NOI
$29.5K $12.27/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,080
Cap Rate 7%
$420,771
Cap Rate 9%
$327,267
Alternative Uses
Best Use
Retail
$420.8K
$368.2K – $490.9K
NOI $29,454 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$654.2K
$572.4K – $763.2K
NOI $45,792 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
116k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 47%
Home Improvements & Furnishings 6%
McDonald's
Dining
31,447 visits/mo
0.4 miles
Circle K
Shops & Services
15,975 visits/mo
0.1 miles
Troy #2
Shops & Services
13,358 visits/mo
0.3 miles
Dollar Tree
Shops & Services
11,688 visits/mo
0.1 miles
Dollar General
Shops & Services
9,268 visits/mo
0.2 miles
Demographics for 62294, IL
15,431
Population
6,138
Households
2.5
Avg Household Size
39
Median Age
47%
College-Educated
98%
High-School Grad
29.5 sq mi
ZIP Area
523
Density / Sq Mi
$108,418
Median Household Income
$57,002
Median Earnings
$1,069
Median Rent
$255,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - An operating salon includes most of its equipment, fixtures, and appliances for continued commercial use.
Where is this retail space located?
The property is located at 328 Bargraves Boulevard Troy, IL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Approximately 2,400 square feet, with potential division into two approximately 1,200‑square‑foot suites; Five tenant stylists, with space for 2 more; Most salon equipment, fixtures, and appliances remain with the property
