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    For Sale (11)

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    Commercially Zoned Building on Route 30
    $369,000
    0.21 Acres

    Commercially Zoned Building on Route 30

    Commercially zoned building on high volume Route 30 in Joliet.

    918 Plainfield Rd, Joliet, IL 60435
    View details
    Auto Body Repair Facility
    $655,000
    3,000 SF

    Auto Body Repair Facility

    3,000 SF auto body shop with rental property.

    525 S Dixie Hwy, Beecher, IL 60401
    View details
    High-Traffic Commercial Property in Joliet
    $240,000
    1,940 SF

    High-Traffic Commercial Property in Joliet

    Commercial property on high-traffic Essington Road with great visibility.

    1948 Essington Rd, Joliet, IL 60435
    View details
    Crest Hill Bar/Restaurant Business
    $300,000
    0.15 Acres

    Crest Hill Bar/Restaurant Business

    Thriving bar and restaurant business for sale in Crest Hill.

    1723 N Center St, Crest Hill, IL 60403
    View details
    Charming Log Cabin Commercial Property
    $484,999
    2,800 SF

    Charming Log Cabin Commercial Property

    Unique commercial property with two buildings and modern updates.

    16143 S Lincoln Hwy, Plainfield, IL 60544
    View details
    Goose Lake Township Land Parcel
    $125,000
    5.37 Acres

    Goose Lake Township Land Parcel

    5+ acre parcel in Goose Lake Township, Morris, IL.

    0001 N Dresden Rd, Morris, IL 60450
    View details
    Versatile Commercial Facility in Ottawa
    $645,000
    5,595 SF

    Versatile Commercial Facility in Ottawa

    Adaptable commercial building suitable for various business applications.

    441 E Stevenson Ave, Ottawa, IL 61350
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    Versatile Commercial Property Near Plaza
    $60,000
    0.43 Acres

    Versatile Commercial Property Near Plaza

    Commercial property near North Point Plaza, ideal for office or retail.

    24 Dannys Dr, Streator, IL 61364
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    Residential Land in River Point
    $99,000
    0.31 Acres

    Residential Land in River Point

    Corner lot in River Point Estates, Plainfield, ready to build.

    24825 Barolo Dr, Plainfield, IL 60586
    View details
    Goose Lake Township Land Parcel
    $125,000
    5.37 Acres

    Goose Lake Township Land Parcel

    5+ acre parcel in Goose Lake Township, Morris, IL.

    N Dresden Rd, Morris, IL 60450
    View details
    Commercial Property on Lincoln Highway
    $484,999

    Commercial Property on Lincoln Highway

    Commercial property for sale on South Lincoln Highway.

    16143 South Lincoln Hwy, Plainfield, IL 60544
    View details

    For Lease (4)

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    Downtown Plainfield Office Suites Available
    Contact for pricing
    6,534 SF

    Downtown Plainfield Office Suites Available

    Renovated office suites for rent in downtown Plainfield.

    24215 W Lockport St, Plainfield, IL 60544
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    Downtown Plainfield Office Suites Available
    Contact for pricing
    6,534 SF

    Downtown Plainfield Office Suites Available

    Renovated office suites in downtown Plainfield with high foot traffic.

    24215 W Lockport St, Plainfield, IL 60544
    View details
    Downtown Plainfield Office Suites Available
    $30 SF/Yr

    Downtown Plainfield Office Suites Available

    Renovated office suites for rent in downtown Plainfield.

    24215 W Lockport St, Plainfield, IL 60544
    View details
    Downtown Plainfield Office Suites Available
    $27 SF/Yr

    Downtown Plainfield Office Suites Available

    Renovated office suites for rent in downtown Plainfield.

    24215 W Lockport St, Plainfield, IL 60544
    View details

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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
    RE/MAX Ultimate Professionals
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