Auto Shop with Window
For Sale
$234,900
1917 N Broadway Street, Crest Hill, IL 60403
Established automotive property with COMMR zoning and window-unit cooling.
Property Size2,444 SF
Days on Market100
Property Features for 1917 N Broadway Street
General Information
Standard status
Active
Size
2,444 SF
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$2,175
Amenities
Window Unit(s)
Building Details
Building Size
2,444 SF
Year Built
1929
Stories
2
Listing Agency:
REMAX Legends
(815) 272-5570
Listed By:
Andrea Rios · License #475207261
(815) 272-5570
Source:
Evrealestate
Added: May 4
Changed: Aug 10
Last Checked: Aug 10 at 2:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Legends
Investment Insights
Based on property information with market context.
This automotive property at 1917 N Broadway Street in Crest Hill, Illinois, was built in 1929 and includes window-unit cooling. The property carries COMMR zoning, supporting its commercial classification.
Access is described from Theodore to Broadway, also identified as Route 53, with the property positioned on North Broadway Street in Will County.
Access is described from Theodore to Broadway, also identified as Route 53, with the property positioned on North Broadway Street in Will County.
Key Highlights
- Auto shop property at 1917 N Broadway Street, Crest Hill, IL 60403
- Built in 1929
- COMMR zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,521
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$210,420
$210.4K
Cap Rate 7%
$150,300
$150.3K
Cap Rate 9%
$116,900
$116.9K
Market Conditions
NOI Build-Up for 2,444 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.8K $6.48/SF
− Vacancy
−$808 −$0.33/SF
EGI
$15.0K $6.15/SF
− OpEx
−$4.5K −$1.84/SF
NOI
$10.5K $4.30/SF
Area
Will County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$210,420
Cap Rate 7%
$150,300
Cap Rate 9%
$116,900
Alternative Uses
Best Use
Retail
$329.9K
$288.7K – $384.9K
NOI $23,096 @ 7.0% cap · market cap 9.83%
Second Best
Industrial
$150.3K
$131.5K – $175.4K
NOI $10,521 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$554.3K
$485.0K – $646.7K
NOI $38,801 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
38k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
McDonald's
Dining
25,669 visits/mo
0.4 miles
Mobil
Shops & Services
12,268 visits/mo
0.4 miles
Demographics for 60403, IL
17,667
Population
7,884
Households
2.2
Avg Household Size
41
Median Age
24%
College-Educated
91%
High-School Grad
4.9 sq mi
ZIP Area
3,606
Density / Sq Mi
$71,413
Median Household Income
$41,597
Median Earnings
$1,386
Median Rent
$223,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Steve's Automotive — 1526 N Raynor Ave, Joliet, IL 60435
- Central Mufflers & Auto Repair — 1711 Broadway St, Crest Hill, IL 60403
- Car Guyz Auto Repair — joliet, il 60435
- Power Truck Repair Inc. — 1530 Broadway St Unit #2, Joliet, IL 60435
- LOOSE NUTS AUTO & TRUCK REPAIR, INC. — 408 Theodore St, Joliet, IL 60435
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive property with COMMR zoning and window-unit cooling.
Where is this auto shop located?
The property is located at 1917 N Broadway Street Crest Hill, IL.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Auto shop property at 1917 N Broadway Street, Crest Hill, IL 60403; Built in 1929; COMMR zoning
