Salon Retail Building with Flexible
328 Bargraves Boulevard, Troy, IL 62294
For Sale
$460,000
An operating salon occupies a property configured to support two separate commercial suites.
Property Size2,400 SF
Price / SF$191.67
Days on Market130
Property Features for 328 Bargraves Boulevard
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Business Included
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Stories
Listing Agency:
RE/MAX Alliance
(618) 656-2111
Listed By:
Kathy &Randy Malawy · License IL #471000298
(618) 977-2803
Source:
Cityscapesrealty
Added: Jul 8
Changed: Nov 11
Last Checked: Nov 13 at 3:03AM
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.
Built in 2006, this approximately 2,400-square-foot retail property is currently used as a salon with five tenant stylists. The business and real estate are offered together, and most salon equipment, fixtures, and appliances remain. The interior can be divided into two approximately 1,200-square-foot suites, each with an open layout, ceramic tile floors, a kitchen or break room, and restroom facilities.
The property is at 328 Bargraves Boulevard in Troy, Illinois, with access to area shopping, restaurants, and businesses. Approximately 15 on-site parking spaces serve customers and tenants.
The property is at 328 Bargraves Boulevard in Troy, Illinois, with access to area shopping, restaurants, and businesses. Approximately 15 on-site parking spaces serve customers and tenants.
Key Highlights
- Approximately 2,400 square feet, arranged for two approximately 1,200‑square‑foot commercial suites
- Salon business and real estate offered together; five tenant stylists currently operate in the space
- 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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
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
Properties on Market for Retail space in Madison County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - An operating salon occupies a property configured to support two separate commercial suites.
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, arranged for two approximately 1,200‑square‑foot commercial suites; Salon business and real estate offered together; five tenant stylists currently operate in the space; Most salon equipment, fixtures, and appliances remain with the property
