Restaurant Building at Signalized
For Sale
$1,100,000
3625 Rock Creek Boulevard, Joliet, IL 60431
Former restaurant property positioned at the entrance to Rock Run Business Park with nearby commercial and hospitality uses.
Property Size3,146 SF
Price / SF$349.65
Days on Market403
Property Features for 3625 Rock Creek Boulevard
General Information
Standard status
Active
Size
3,146 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Traffic Count
14,300 vehicles/day
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$24,280
Building Details
Building Size
3,146 SF
Year Built
1998
Buildings
1
Stories
1
Units
1
Listing Agency:
Tri-County Property Management & Sales LLC
(815) 786-2404
Listed By:
Roger Blomgren
(815) 786-2404
Source:
Ozmentrealestate
Added: Jul 1, 2025
Changed: Aug 7
Last Checked: Aug 7 at 1:58AM
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 Tri-County Property Management & Sales LLC
Investment Insights
Based on property information with market context.
Constructed in 1998, the property includes a 3,146-square-foot building that operated as a Burger King restaurant until closing. The site occupies almost an acre and is classified COMMR. Its prior restaurant configuration provides a defined commercial building context for restaurant or service-sector use, subject to applicable approvals.
The property occupies the northwest corner of Houbolt Road and Rock Creek Boulevard, where the intersection is fully signalized. It is located at the entrance to Rock Run Business Park, near distribution, professional, hospitality, and other commercial businesses, as well as Joliet Community College and surrounding residential areas. The site is just off I'80, with reported traffic exceeding 14,300 VPD.
The property occupies the northwest corner of Houbolt Road and Rock Creek Boulevard, where the intersection is fully signalized. It is located at the entrance to Rock Run Business Park, near distribution, professional, hospitality, and other commercial businesses, as well as Joliet Community College and surrounding residential areas. The site is just off I'80, with reported traffic exceeding 14,300 VPD.
Key Highlights
- 3,146 sf restaurant building constructed in 1998
- Almost an acre lot
- Former Burger King restaurant location
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
$37,261
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
3.39%
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%
$745,220
$745.2K
Cap Rate 7%
$532,300
$532.3K
Cap Rate 9%
$414,011
$414.0K
Market Conditions
NOI Build-Up for 3,146 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
$52.9K $16.80/SF
− Vacancy
−$3.2K −$1.01/SF
EGI
$49.7K $15.79/SF
− OpEx
−$12.4K −$3.95/SF
NOI
$37.3K $11.84/SF
Area
Joliet, IL
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$745,220
Cap Rate 7%
$532,300
Cap Rate 9%
$414,011
Alternative Uses
Best Use
Specialty Retail
$532.3K
$465.8K – $621.0K
NOI $37,261 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.6K
$811.7K – $1.08M
NOI $64,933 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14,300 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
32k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Hotels & Casinos 27%
Shops & Services 26%
Home Improvements & Furnishings 3%
Cracker Barrel Old Country Store
Dining
13,873 visits/mo
0.5 miles
Holiday Inn & Suites
Hotels & Casinos
6,066 visits/mo
0.4 miles
7-Eleven
Shops & Services
5,633 visits/mo
0.5 miles
Cit Trucks
Shops & Services
2,661 visits/mo
0.5 miles
Comfort Inn
Hotels & Casinos
1,208 visits/mo
0.4 miles
Demographics for 60431, IL
26,853
Population
9,368
Households
2.9
Avg Household Size
36
Median Age
31%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
2,098
Density / Sq Mi
$114,098
Median Household Income
$51,980
Median Earnings
$1,408
Median Rent
$275,100
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former restaurant property positioned at the entrance to Rock Run Business Park with nearby commercial and hospitality uses.
Where is this conventional restaurant located?
The property is located at 3625 Rock Creek Boulevard Joliet, IL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,146 sf restaurant building constructed in 1998; Almost an acre lot; Former Burger King restaurant location
