Renovated Showroom and Service
For Sale
Contact for pricing
501 Salem Pl, Fairview Heights, IL
Recently renovated showroom and service center with high traffic visibility.
Property Size14,295 SF
Lot Size3.37 Acres
Price / SF$216.86
Days on Market278
Property Features for 501 Salem Pl
General Information
Standard status
Active
Size
14,295 SF
Lot size
3.37 Acres
Property subtype
RETAIL
Listing Agency:
BARBERMurphy
(618) 277-4400
Listed By:
Collin Fischer
(618) 420-2376
Source:
Moodyscre
Added: Nov 14, 2025
Changed: Aug 14
Last Checked: Aug 18 at 10:06AM
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 BARBERMurphy
Investment Insights
Based on property information with market context.
This 14,295 square foot showroom and service center, formerly a recreational motor sports dealer, is available for sale. The facility was fully renovated in 2023, with the roof and epoxy flooring in near-new condition. The property features a large showroom, a customer lounge, and four sales offices, with floor-to-ceiling windows. The service area includes 10 service bays with two drive-in overhead doors (8x10 and 10x12), and a private manager's office with a covered delivery service area. An oil/water separator runs the length of the service area. The property has no use restrictions. Located on the north side of I-64 across from St. Clair Square Mall, the facility has visibility to both eastbound and westbound travelers, with an average daily traffic of 78,800. The site is accessible from I-64’s Exit 12, along the frontage road.
Key Highlights
- Fully renovated in 2023, this property boasts near‑new condition, including the roof and epoxy flooring.
- Excellent visibility and high traffic location** on I‑64 across from St. Clair Square Mall (78,800 average daily traffic).
- 14,295 SF showroom and service center with no use restrictions.
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
$142,833
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
4.61%
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%
$2,856,660
$2.9M
Cap Rate 7%
$2,040,471
$2.0M
Cap Rate 9%
$1,587,033
$1.6M
Market Conditions
NOI Build-Up for 14,295 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
$223.0K $15.60/SF
− Vacancy
−$19.0K −$1.33/SF
EGI
$204.0K $14.27/SF
− OpEx
−$61.2K −$4.28/SF
NOI
$142.8K $9.99/SF
Area
St. Clair County, IL
Vacancy
8.50%
Lease Rate
$15.60 /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%
$2,856,660
Cap Rate 7%
$2,040,471
Cap Rate 9%
$1,587,033
Alternative Uses
Best Use
Retail
$2.04M
$1.79M – $2.38M
NOI $142,833 @ 7.0% cap · market cap 4.61%
Second Best
Industrial
$1.31M
$1.15M – $1.53M
NOI $91,914 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$3.38M
$2.96M – $3.95M
NOI $236,890 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
485k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Apparel 26%
Shops & Services 25%
Electronics 7%
Raising Cane's Chicken Fingers
Dining
63,953 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
47,057 visits/mo
0.5 miles
Best Buy
Electronics
32,569 visits/mo
0.5 miles
Circle K
Shops & Services
28,581 visits/mo
0.2 miles
Taco Bell
Dining
23,839 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Recently renovated showroom and service center with high traffic visibility.
Where is this automotive property located?
The property is located at 501 Salem Pl Fairview Heights, IL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Fully renovated in 2023, this property boasts near‑new condition, including the roof and epoxy flooring.; Excellent visibility and high traffic location** on I‑64 across from St. Clair Square Mall (78,800 average daily traffic).; 14,295 SF showroom and service center with no use restrictions.
