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

    608 3Rd St La Salle, IL 61301

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $222,170

    Highly visible location with convenient access to major routes.

    Building Details

    Year built
    1951

    We can help!

    Listing Contact
    Ryan Freed
    Ryan Freed
    Source: Lee-associates

    Listing Agent: Ryan Freed

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

    Learn more

    Overview

    La Salle Commercial Property

    This commercial property is located on 3rd Street in downtown La Salle, Illinois, adjacent to local retail and commercial services. The location offers high visibility and convenient access to I-39 and Route 6.
    Location Intelligence

    Current Use by Public Records

    Valley Flowers (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    La Salle
    County
    LaSalle
    State
    Illinois
    Longitude
    -89.096588
    Latitude
    41.330182

    Nearby Similar for Sale

    • New
      $225,000
      0.40 Acres

      Turn-Key Bar and Restaurant

      Profitable bar and restaurant with loyal clientele in LaSalle, IL.
      253 9Th St, La Salle, IL 61301
      View Details
    • $105,000

      Established Business Opportunity in La Salle

      Thriving business with loyal following, strong growth potential.
      Confidential St, La Salle, IL 61301
      View Details
    • $1,400,000
      1.23 Acres

      Versatile Commercial Building in LaSalle

      Expansive commercial building with flexible zoning and high visibility.
      235 3Rd St, La Salle, IL 61301
      View Details
    • $349,900
      0.20 Acres

      Mixed-Use Building with Apartment Potential

      Mixed-use building with six apartments and retail space potential.
      801 1St St, La Salle, IL 61301
      View Details
    • $425,000

      Commercial Property in La Salle

      Highly visible commercial property in the heart of La Salle.
      241 Marquette St, La Salle, IL 61301
      View Details
    • $350,000
      3,188 SF

      Downtown LaSalle Restaurant - $350K

      Turnkey Restaurant, High Traffic Area, Vacant
      833 3Rd St, La Salle, IL 61301
      View Details
    • $180,000
      2,800 SF

      La Salle Bar & Apartment Building

      Profitable Mixed-Use Investment
      945 1St St, La Salle, IL 61301
      View Details
    • $750,000
      2,964 SF

      La Salle Warehouse: 21 Acres

      Prime Industrial Warehouse, High Traffic Area
      522 Us Highway 6, La Salle, IL 61301
      View Details

    FAQs

    What type of property is this?
    Specialty property - Highly visible location with convenient access to major routes.
    Where is this specialty property located?
    The property is located at 608 3Rd St La Salle, IL.
    What is the asking price?
    The asking price for this property is $222,170.
    What are key features of this property?
    This property features: - Highly visible location in downtown La Salle, IL; - Convenient access to I-39 and Route 6; - Located on 3rd Street
    (630) 853-5255
    Request Owner's contact information
    608 3Rd St La Salle, IL 61301
    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.
    608 3Rd St
    La Salle, IL 61301
    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
    608 3Rd St La Salle, IL 61301
    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
    Ryan Freed
    Ryan Freed
    (630) 853-5255 (773) 355-5806
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!