Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    368 Jefferson St Joliet, IL 60435

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $300,000

    Three Retail Spaces, Strong Cash Flow

    Property size:
    3,927 SF

    Property Features for 368 Jefferson St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,927 SF

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    Mark Santoyo
    Mark Santoyo

    Listing Agency: RE/MAX Loyalty Listing Agent: Mark Santoyo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional investment opportunity in Joliet, Illinois, presents a 3,927 square foot brick building ideally situated on West Jefferson Street, benefiting from high daily vehicular traffic. The property is currently divided into three distinct retail spaces. The largest space, approximately 2,000 square feet, boasts an open layout, a fully equipped kitchen area, perfect for a restaurant or similar business, and a substantial basement providing ample storage. Two additional spaces, each around 1,000 square feet, offer further income potential
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.09067
    Latitude
    41.52504

    Nearby Similar for Sale

    • New
      $500,000
      0.22 Acres

      Joliet, IL - Retail Property

      Retail property for sale in Joliet, Illinois.
      416 Buell Ave, Joliet, IL 60435
      View Details
    • $650,000
      6,000 SF

      Mixed-Use Property in Downtown Joliet

      Mixed-use property with development potential in the heart of Joliet.
      301 S Ottawa St, Joliet, IL 60436
      View Details
    • New
      $2,900,000
      29,635 SF

      Former YMCA on 26.55 Acres

      29,635 SF building on 26.55 acres in Joliet, IL
      1350 S Briggs St, Joliet, IL 60433
      View Details
    • New
      $1,500,000
      11,200 SF

      Versatile Commercial Building on Essington Road

      Multi-use building with offices and warehouse space for sale.
      1214-1222 Essington Rd, Joliet, IL 60435
      View Details
    • $279,999
      0.11 Acres

      Well-Maintained Brick Two-Flat in Joliet

      Rare, income-generating two-flat near schools, shopping, and highways.
      511 E 3Rd Ave, Joliet, IL 60433
      View Details
    • $1,400,000
      0.44 Acres

      Renovated Multifamily Building in Joliet

      Turn-key investment opportunity: 8-unit apartment building, fully renovated in 2023.
      303-307 Stone St, Joliet, IL 60435
      View Details
    • $1,100,000
      0.60 Acres

      Turn-Key Restaurant Opportunity in Joliet

      Well-maintained restaurant with equipment, inventory, and trademarks included.
      810 Plainfield Rd, Joliet, IL 60435
      View Details
    • $775,000
      0.60 Acres

      Joliet Commercial Property For Sale

      Well-maintained building on 0.6 acres with redevelopment potential.
      810 Plainfield Rd, Joliet, IL 60435
      View Details
    • New
      $389,900
      0.15 Acres

      Joliet Three-Unit Residential Property

      Three-unit residential property in Joliet, Illinois, with seller financing available.
      214-216 N Hickory St, Joliet, IL 60435
      View Details
    • $795,000
      1,150 SF

      Updated 5-Unit Multifamily Property

      Updated 5-unit property with individual utilities and recent renovations.
      809 Vine St, Joliet, IL 60435
      View Details
    • $520,000
      1.02 Acres

      Commercial Property Near I-80

      Commercial-zoned property near I-80 and Route 53 with high visibility.
      1610 S Chicago St, Joliet, IL 60436
      View Details
    • $600,000
      3,014 SF

      Victorian Multi-Family in Forest Park

      Two-unit property on a double lot near downtown.
      7415 Dixon St, Forest Park, IL 60130
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Three Retail Spaces, Strong Cash Flow
    Where is this commercial real estate located?
    The property is located at 368 Jefferson St Joliet, IL.
    What is the asking price?
    The asking price for this property is $300,000.
    (773) 772-6969
    Request Owner's contact information
    368 Jefferson St Joliet, IL 60435
    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.
    368 Jefferson St
    Joliet, IL 60435
    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
    368 Jefferson St Joliet, IL 60435
    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

    We can help!
    Listing Contact
    Mark Santoyo
    Mark Santoyo
    Real Estate License ID: 475144334
    (773) 772-6969 (312) 625-0007 (708) 456-4040
    Learn more
    Google sign-in failed. Please try again or use another login method.