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    505 Buckeye Dr Troy, IL 62294

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    For Lease
    Contact for pricing

    Three buildings, flexible suites, prime location.

    Lot size:
    11,900 SF

    Property Features for 505 Buckeye Dr

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,900 SF
    Total Rate
    13883.33

    Building Details

    Year Built
    1997
    Buildings
    3
    Stories
    2

    Spaces For Lease

    at 505 Buckeye Dr, Troy, IL 62294 Contact us
    Unit 504 Ohara

    $14 /Mo

    Size
    2,400 SF
    Contact us
    Unit 505 Buckeye

    $14 /Mo

    Size
    7,100 SF
    Contact us
    Unit 500 Ohara

    $14 /Mo

    Size
    2,400 SF
    Contact us

    We can help!

    Listing Contact
    Caleb Anthonis
    Caleb Anthonis

    Listing Agency: Manor Brokerage, LLC Listing Agent: Caleb Anthonis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial real estate opportunity presents a three-building office complex totaling 11,900 square feet, situated on a 1.33-acre lot in Troy, Illinois. The property, built in 1997, comprises three separate structures, offering a flexible layout suitable for various business types. Individual suites range from a minimum of 2,400 square feet up to the entire 11,900 square feet, allowing for diverse tenancy options. Currently, all 11,900 square feet are available for lease or sale. The complex boasts a total of 80 parking spaces, ensuring ample accommodation for tenants and clients. Strategically located with convenient access to Highways 55 and 70, this property enjoys excellent visibility and accessibility. Its commercial zoning allows for a wide range of business uses, making it an attractive investment for owner-users or investors seeking a stable and adaptable property. The property's location within the expanding Madison County market offers significant potential for appreciation and strong tenant demand. The three buildings, identified as 505 Buckeye, 500 Ohara, and 504 Ohara, are a two-story construction, presenting a substantial opportunity in a thriving commercial area. The property's Assessed Parcel Number (APN) is 09-2-22-05-20-402-040, and it is located in Madison County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Padda Institute - Center ... Physician Center For Pain Management Physician Dr. Philip Gogel Physician Khan Sohail a MD Physician Khattak Hafiz K ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Madison
    State
    Illinois
    Longitude
    -89.896222033628
    Latitude
    38.733354926973

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    FAQs

    What type of property is this?
    Office units - Three buildings, flexible suites, prime location.
    Where is this office units located?
    The property is located at 505 Buckeye Dr Troy, IL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Three-building office complex totaling 11,900 square feet in Troy, IL, offering excellent highway access (55 and 70).; The property features three buildings with a combined 11,900 square feet of flexible office space suitable for various uses, including medical, professional, and commercial tenants.; Available space ranges from 2,400 to 11,900 square feet, ideal for owner-users or investors.
    (314) 647-6611 Call to check price and availability
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    505 Buckeye Dr Troy, IL 62294
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    Troy, IL 62294
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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.

    More about this property
    505 Buckeye Dr Troy, IL 62294
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Caleb Anthonis
    Caleb Anthonis
    Real Estate License ID: 2021000758
    (314) 647-6611 (636) 578-7627
    Learn more
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