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    For Sale (10)

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    Joliet Commercial Building For Sale
    $3,900,000
    26,000 SF

    Joliet Commercial Building For Sale

    Two-story corporate office with warehouse space, potential for industrial conversion.

    1225 E Washington St, Joliet, IL 60433
    View details
    Joliet Commercial Building For Sale
    $3,900,000
    3.80 Acres

    Joliet Commercial Building For Sale

    Two-story corporate office with warehouse space or open industrial space.

    1225 E Washington St, Joliet, IL 60433
    View details
    Residential Lots in Established Subdivision
    $1,200,000
    14.00 Acres

    Residential Lots in Established Subdivision

    48 residential lots in Joliet, ideal for development.

    Churchhill Rd, Joliet, IL 60431
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    Waterfront Land in Morris, Illinois
    $325,000
    3.24 Acres

    Waterfront Land in Morris, Illinois

    3.24 acre waterfront land near Goose Lake, Morris, Illinois.

    Heron Lake Ct, Morris, IL 60450
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    Adaptable Commercial Property Near I-55
    $1,490,000
    5.00 Acres

    Adaptable Commercial Property Near I-55

    17,000 SF commercial building on 5 acres near I-55.

    101 Watters Dr, Dwight, IL 60420
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    0 S Briggs St, Joliet, IL 60433
    Contact for pricing

    0 S Briggs St, Joliet, IL 60433

    Industrial land

    S Briggs St, Joliet, IL 60433
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    Industrial Land with Trucking Permit
    Contact for pricing

    Industrial Land with Trucking Permit

    3 acres with special use permit for trucking.

    25214 Lorenzo Rd, Wilmington, IL 60481
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    I-80 Corridor Industrial Facility
    Contact for pricing
    127,345 SF

    I-80 Corridor Industrial Facility

    127,345 SF industrial facility in Morris, IL for sale.

    2000 Ashley Rd, Morris, IL 60450
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    Joliet Industrial Property: 36,500 SF
    $5,000,000
    36,500 SF

    Joliet Industrial Property: 36,500 SF

    Prime Joliet warehouse/office space. Excellent investment opportunity.

    1225 Washington St, Joliet, IL 60433
    View details
    Versatile Joliet Commercial Building For Sale
    $3,900,000

    Versatile Joliet Commercial Building For Sale

    26,000 SF office with 10,000 SF warehouse space.

    1225 E Washington St, Joliet, IL 60433
    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.

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