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    505 Buckeye Dr Troy, IL 62294

    Sponsored
    For Sale
    $1,375,000

    Three-building office park, prime location.

    Property size:
    11,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment 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, features a two-story design and is currently vacant, offering immediate occupancy for an owner-user or the potential to lease to multiple tenants. The buildings are ideally suited for a variety of uses, including creative, executive, and traditional office spaces, thanks to its Commercial zoning. Conveniently located near Highways 55 and 70, this complex boasts excellent visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in the thriving Madison County market. Ample parking is available with approximately 80 spaces to accommodate tenants and clients. The asking price is $1,375,000, translating to a land value of $115.55 per square foot. The property's strategic location, versatile space, and strong potential for appreciation make it a compelling investment opportunity in a growing market. The property includes three buildings: 505 Buckeye Drive, 500 Ohara Drive, and 504 Ohara Drive. A modified lease type is available. The property's address is 505 Buckeye Drive, Troy, IL 62294. The APN is 09-2-22-05-20-402-040.

    Property Features for 505 Buckeye Dr

    General Information

    Property type
    Office space
    Square Feet
    11,900 SF
    Lot Size
    57,935 SF

    Building Details

    Year Built
    1997
    Buildings
    3
    Stories
    2

    HighLights

    • Prime Troy, IL location with easy access to Highways 55 & 70, offering high visibility.
    • Three‑building office park totaling 11,900 square feet, adaptable for various uses.
    • Excellent owner‑user or investment opportunity.
    • Situated in the thriving Madison County market, promising strong appreciation and high tenant demand.
    • Commercially zoned for diverse business applications, ensuring investment stability.
    • Flexible lease options from 400 to 11,900 square feet available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Padda Institute - Center ... Pain Management Physician Center For Pain Management Pain Control Clinic Dr. Philip Gogel General Practitioner Khan Sohail a MD Doctor Khattak Hafiz K ... Doctor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    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 space - Three-building office park, prime location.
    Where is this office space located?
    The property is located at 505 Buckeye Dr Troy, IL.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: Prime Troy, IL location with easy access to Highways 55 & 70, offering high visibility.; Three-building office park totaling 11,900 square feet, adaptable for various uses.; Excellent owner-user or investment opportunity.
    Request Owner's contact information
    505 Buckeye Dr Troy, IL 62294
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    Troy, IL 62294
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    Realmo Value Estimation

    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.

    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.

    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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