Endcap Retail
1948 Essington Road #A Joliet, IL 60435
1948 Essington Road #A, Joliet, IL, 60435
$240,000
For Sale
$240,000
End unit storefront with open layout, all-steel construction, and shared front and rear parking.
Property Size1,940 SF
Price / SF$123.71
Days on Market147
Property Features for 1948 Essington Road #A
General Information
- Standard status
- Active
- Size
- 1,940 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1991
Listing agency
RE/MAX Ultimate Professionals
(815) 725-4545
Listed by
Andrew Nordstrom · License #475165337
(815) 725-4545
Source
Birdrealtysells
Added: Feb 26 Updated: Jul 22 at 6:24PM Checked: Jul 22 at 6:24PM
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 RE/MAX Ultimate Professionals
Investment Insights
Based on property information with market context.
This end unit retail space is located within a durable all-steel building containing six individually owned units. The main floor features an open layout designed to support flexible tenant build-outs. An additional upstairs area provides extra room that can be used for storage or additional workspace.
The property is positioned along Essington Road with visibility and exposure. Ample shared parking is available in the front lot, with additional parking located in the rear for added convenience.
The total offering includes the end unit’s ground-level retail space plus an upstairs addition, giving occupiers room to separate customer-facing uses from back-of-house needs.
The property is positioned along Essington Road with visibility and exposure. Ample shared parking is available in the front lot, with additional parking located in the rear for added convenience.
The total offering includes the end unit’s ground-level retail space plus an upstairs addition, giving occupiers room to separate customer-facing uses from back-of-house needs.
Key Highlights
- 1,400 sq. ft. end unit storefront on high‑traffic Essington Road
- Additional 540 sq. ft. upstairs for storage or extra workspace
- All‑steel construction built in 1991
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.1k | $15.00 |
| − Vacancy | −$2.2k | −$1.13 |
| EGI | $26.9k | $13.88 |
| − OpEx | −$8.1k | −$4.16 |
| NOI | $18.8k | $9.71 |
1,940 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$572.0K
$500.5K – $667.4K
NOI $40,042 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bill Markley Jr ...
Insurance Agency
Daniel Richard Jewelers
(Bike/Boat/Book/etc) Store
Kosacks Black Tie
(Bike/Boat/Book/etc) Store
Hi Def Guys
Electronics & Wireless Store
Elizabeth Miller Attorney ...
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - End unit storefront with open layout, all-steel construction, and shared front and rear parking.
Where is this storefront property located?
The property is located at 1948 Essington Road #A Joliet, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,400 sq. ft. end unit storefront on high‑traffic Essington Road; Additional 540 sq. ft. upstairs for storage or extra workspace; All‑steel construction built in 1991
