Building Details

Year built 2003

Floors in Building 2

Listing Agency: WEB VIDEO Realty Show Phone

Listed By: Michael O'Donnell · License #471009539 Show Phone

Added: Jan 2, 2025 Changed: Sep 13 Last Checked: Oct 5 at 1:06PM

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MLS# 12263606

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.

Investment Insights

Based on property information with market context.

Built in 2003, this 26,000-square-foot flex facility combines a two-story corporate office component with 10,000 square feet of warehouse area. The building includes one indoor dock and one drive-in door, providing both office capacity and warehouse functionality within the same property. Central air and zoned cooling are installed.

The property occupies 3.8 acres in Joliet, Illinois, within Will County. Its configuration supports office and industrial operations in a single commercial building, with loading access suited to warehouse-related use.

Key Highlights

• 26,000 square feet of two‑story corporate office space
• 10,000 square feet of warehouse space
• One indoor dock and one drive‑in door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$326,832

Cap Rate

8.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,536,640 $6.5M

Cap Rate 7%

$4,669,029 $4.7M

Cap Rate 9%

$3,631,467 $3.6M

Market Conditions

NOI Build-Up for 26,000 SF

Gross rent

$405.6K $15.60/SF

− Vacancy

−$21.1K −$0.81/SF

EGI

$384.5K $14.79/SF

− OpEx

−$57.7K −$2.22/SF

NOI

$326.8K $12.57/SF

Area

Joliet, IL

Vacancy

5.20%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,536,640

Cap Rate 7%

$4,669,029

Cap Rate 9%

$3,631,467

Alternative Uses

Best Use

Office B

$5.62M

$4.91M – $6.55M (±1% cap)

NOI $393,120 @ 7.0% cap · market cap 10.08%

Second Best

Warehouse

$4.67M

$4.09M – $5.45M (±1% cap)

NOI $326,832 @ 7.0% cap · market cap 8.38%

Theoretical Best

Office A

$7.67M

$6.71M – $8.94M (±1% cap)

NOI $536,640 @ 7.0% cap · market cap 13.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Easton Transportation Trucking Company Stanford Design Marketing & Advertising DORA Partners Consultant Dora Builders Construction Company

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Law Firm Big Box & Wholesale Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Dock-high doors

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

247

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60433, IL

16,526

Population

5,774

Households

2.9

Avg Household Size

37

Median Age

13%

College-Educated

79%

High-School Grad

13.6 sq mi

ZIP Area

1,215

Density / Sq Mi

$60,987

Median Household Income

$35,310

Median Earnings

$1,307

Median Rent

$167,800

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Two-story commercial facility with centralized and zoned cooling, an indoor dock, and a drive-in door.

Where is this flex space located?

The property is located at 1225 E Washington Street Joliet, IL.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: 26,000 square feet of two‑story corporate office space; 10,000 square feet of warehouse space; One indoor dock and one drive‑in door