Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    137 W Wapella Street unit 133 Minooka, IL 60447

    View on Map
    For Lease
    Contact for pricing

    COMMERCIAL - Minooka, IL

    Property size:
    3,000 SF
    Lot size:
    0.61 Acres
    Added:
    Aug 27, 2024
    Days on Market:
    583
    Last Refresh:
    Apr 1 at 8:06 am

    Property Features for 137 W Wapella Street unit 133

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Size
    3,000 SF
    Lot size
    0.61 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxAnnualAmount
    9697

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2000
    Floors in Building
    2
    Number of units
    10

    We can help!

    Listing Contact
    Philip Howell
    Philip Howell

    Listing agent Philip Howell License #475119140

    Listing office RE/MAX Top Properties 101 E Waverly St., Morris, IL

    Listing date Aug 27, 2024

    MLS# 12148935

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Minooka Commercial Space Available

    Located in downtown Minooka, this commercial space offers two main floor units, 133 and 135, each approximately 1500 sq ft. The units can be leased separately or combined for a total of 3,000 sq ft. Each unit includes a private office, waiting area, and a wide open spacious area. The space is ready for immediate occupancy and can be modified to suit specific needs. Fresh paint has been applied, and updated flooring will be installed upon lease signing. The owner is offering two months' rent credit with approved lease terms. The property benefits from ample parking and signage exposure. The building features a quality tenant mix. The property is situated on a lot of 0.6089 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Minooka
    County
    Grundy
    State
    Illinois
    Longitude
    -88.262113
    Latitude
    41.454229

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space in Parker Square

      Retail space available at a busy, accessible intersection.
      410-462 W Mondamin St, Minooka, IL
      View Details
    • Contact for pricing

      Industrial Property Proposed Construction

      Proposed industrial property construction with 409,050 square feet in Minooka.
      Minooka Rd. | Minooka, IL 60447, IL 60447
      View Details
    • Contact for pricing

      Industrial Property Under Construction

      Industrial property available for rent, currently under construction.
      Minooka Rd. | Minooka, IL 60447, IL 60447
      View Details
    • Contact for pricing

      Prime Retail Space in Minooka

      2,000 sqft retail space in a vibrant strip center.
      2081 Ridge Rd, Minooka, IL 60447
      View Details
    • Contact for pricing

      Industrial Space with Highway Access

      324,850 SF industrial property with superior interstate access.
      E Minooka Rd & S International Pkwy, Minooka, IL
      View Details
    • Contact for pricing

      Minooka Warehouse with I-80 Frontage

      1,159,670 SF warehouse with excellent I-80 visibility.
      1001 Midpoint Rd, Minooka, IL
      View Details
    • Contact for pricing

      Planned Industrial Building with Highway Access

      144,650 SF industrial building with superior interstate access.
      E Minooka Rd & S Internationale Pkwy, Minooka, IL
      View Details
    • Contact for pricing

      Industrial Building in Minooka, IL

      Proposed 409,050 SF industrial space with superior interstate access.
      E Minooka Rd S Internationale Pkwy, Minooka, IL
      View Details

    FAQs

    What type of property is this?
    Office units - Downtown Minooka commercial space ready for immediate occupancy.
    Where is this office units located?
    The property is located at 137 W Wapella Street unit 133 Minooka, IL.
    What are key features of this property?
    This property features: Two Main Floor Units (133 & 135) - Lease separately (1500 sq ft each) or combined (3,000 sq ft).; Move‑in Ready: Features a private office, waiting area, and spacious open area.; Two Months Rent Credit: Available with approved lease terms.
    (815) 942-1133
    We can help!
    Listing Contact
    Philip Howell
    Philip Howell
    Real Estate License ID: 475119140
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!