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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    103 Market St Troy, IL 62294-1509

    • Office Properties & Spaces
    • 3,414 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3336280
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • BeLong Luxury Salon and Extension Co. / Hair Salon
    • Harlow House Opioid Rehab Troy, IL / Health Counselor / Addiction Treatment Center
    • Market Veterinarian / Veterinary Clinic

    Property Details for 103 Market St

    Year built
    1970
    Lot size
    0.27 lot acres
    Property size
    3,414 SF
    Property type
    Office Properties & Spaces
    APN
    09-2-22-09-07-204-031
    APU
    92220907204031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Madison
    State
    Illinois
    Longitude
    -89.8827
    Latitude
    38.7288
    CBSA code
    41180
    CBSA name
    ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,168
    $17,790
    $51,380
    $69,170
    -
    $53,423
    $154,294
    $207,717

    Comparable in this City

    • Value Estimation by Request
      2,255 SF

      212 Market St

      OFFICE (GENERAL) • 2,255 SF
      212 Market St, Troy, IL 62294-1512
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    • Value Estimation by Request
      576 SF

      120 Market St

      OFFICE (GENERAL) • 576 SF
      120 Market St, Troy, IL 62294-1419
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    • Value Estimation by Request
      1,352 SF

      303 Main St

      OFFICE (GENERAL) • 1,352 SF
      303 Main St, Troy, IL 62294-1808
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      1,568 SF

      108 Kimberlin St

      OFFICE (GENERAL) • 1,568 SF
      108 Kimberlin St, Troy, IL 62294-1542
      View Details
    • Value Estimation by Request
      1,040 SF

      112 Main St

      OFFICE (GENERAL) • 1,040 SF
      112 Main St, Troy, IL 62294-1408
      View Details
    • Value Estimation by Request
      1,396 SF

      111 Main St

      OFFICE (GENERAL) • 1,396 SF
      111 Main St, Troy, IL 62294-1425
      View Details

    Similar Nearby for Sale

    • $1,375,000
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      Three-building office park, prime location.
      505 Buckeye Dr, Troy, IL 62294
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      0.70 Acres

      Troy Commercial Land - I-55 Access

      Developed lots, build-to-suit options.
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      2.10 Acres

      Prime Troy Industrial Land

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    • $176,418

      Commercial Land on Highway 40

      1.35 AC commercial land near Triad High School.
      320 Us Highway 40, Troy, IL 62294
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    • $499,000

      Prime Commercial Land Opportunity

      1.56 acres near I-55, ideal for retail/hospitality.
      7358 State Route 162, Troy, IL 62294
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    • $184,000
      2.08 Acres

      Residential Land in Troy, Illinois

      2.08 acre lot with city utilities near Troy, IL.
      2281 Staunton Rd, Troy, IL 62294
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    Similar Nearby for Lease

    • $13 SF/Yr
      30,500 SF

      Troy Shopping Center: Executive Suites

      Prime Troy location, retail & office space available.
      7640 Plummer Business Dr, Troy, IL 62294
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    • $14 SF/Yr
      11,900 SF

      Troy Office Complex: 11,900 SF

      Three buildings, flexible suites, prime location.
      505 Buckeye Dr, Troy, IL 62294
      View Details
    • $14 SF/Yr
      1,520 SF

      Office/Retail Suites on Hwy 40

      Office and retail suites available with excellent highway visibility.
      7640 Plummer Business Dr, Troy, IL 62294
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    • $2,300,000
      4,000 SF

      Office/Retail Building with Leasing Potential

      12,040 SF building with existing leases and available space.
      7354 State Route 162, Troy, IL 62294
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    • Contact for pricing
      4,800 SF

      Downtown Troy Warehouse Opportunity

      Prime Troy location, multiple spaces available
      101 Main St, Troy, IL 62294
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    • Contact for pricing
      466,280 SF

      Plummer Business Park: Industrial Land

      21.5-acre industrial park; build-to-suit options.
      7700 Plummer Business Dr, Troy, IL 62294
      View Details
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    103 Market St
    Troy, IL 62294-1509
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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
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