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

    332 Budler Rd Romeoville, IL 60446

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    West Suburban Retail Strip Center; Multiple Units Available

    Lot size:
    20,000 SF

    Property Features for 332 Budler Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,000 SF
    Total Rate
    20000

    Spaces For Lease

    at 332 Budler Rd, Romeoville, IL 60446 Contact us
    Unit Suite 332 Budler

    $12 /Mo

    Size
    2,796 SF
    Contact us
    Unit Suite 334

    $12 /Mo

    Size
    2,923 SF
    Contact us
    Unit Suite 332-334

    $12 /Mo

    Size
    5,719 SF
    Contact us

    We can help!

    Listing Contact
    Neil Haleem
    Neil Haleem

    Listing Agency: Network Property Managment LLC Listing Agent: Neil Haleem

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

    Learn more

    Overview

    This exceptional retail opportunity presents 11,438 square feet of vacant space within a thriving 20,000 square-foot strip center located in Will County's desirable West Suburban submarket. Situated at the intersection of Airport Road and Budler, this property benefits from high visibility and convenient access. The center offers multiple units ranging from a minimum of 2,796 square feet to a maximum contiguous space of 5,719 square feet, providing flexibility for various retail concepts. The open floor plan design allows for efficient use of space and customization to suit individual tenant needs. Ample on-site parking ensures convenient access for customers. The property is zoned B1 and is located within a major business and shopping district, surrounded by national retailers and benefiting from a densely populated area, guaranteeing high foot traffic and strong potential for success. This prime location offers an unparalleled opportunity for businesses seeking to establish or expand their presence in a vibrant and growing market. The property's strategic location and flexible space options make it an ideal investment for discerning retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Romeoville
    County
    Will
    State
    Illinois
    Longitude
    -88.099845
    Latitude
    41.6354154

    Nearby Similar for Lease

    • Contact for pricing
      274,428 SF

      Professional Office Building For Rent

      Brick office building with high visibility and ample parking.
      600 S Weber Rd, Romeoville, IL 60446
      View Details
    • $32 SF/Yr
      1,200 SF

      Retail Space in Romeoville Outlot

      Retail space available in a heavily trafficked retail corridor.
      277 S Weber Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      4,509 SF

      Retail Space in Romeoville

      Retail space with high visibility and traffic in Romeoville.
      239-253 S Weber Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      1,425 SF

      Retail Space with Ample Parking

      Retail space with excellent frontage and proximity to I-55.
      476-482 N Weber Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      5,719 SF

      Retail Space in Populated Area

      Available retail space in a densely populated area.
      320-350 S Budler Rd, Romeoville, IL 60446
      View Details
    • $11 SF/Yr
      9,651 SF

      Renovated Manufacturing Space Available

      Newly renovated manufacturing space with loading dock ramp.
      515 Anderson Dr, Romeoville, IL 60446
      View Details
    • $13 SF/Yr
      40,000 SF

      Office Space with Loading Docks

      Office space available with shared loading docks in Romeoville.
      1404 Joliet Rd, Romeoville, IL 60446
      View Details
    • $32 SF/Yr
      11,502 SF

      Retail Space in Romeoville Outlot

      Retail spaces for lease in a heavily trafficked retail corridor.
      277-297 South Weber Rd, Romeoville, IL 60446
      View Details
    • Contact for pricing
      3,127 SF

      Windham Business Park Office Space

      Office space in well-established Windham Business Park.
      1261-1295 Windham Pkwy/I-55/We, Romeoville, IL
      View Details
    • Contact for pricing
      9,517 SF

      Romeoville Warehouse with Loading Dock

      Functional warehouse unit with loading dock and drive-in door.
      140 S Pinnacle Dr, Romeoville, IL 60446
      View Details
    • Contact for pricing
      162,950 SF

      I-55 Corridor Industrial Space

      105,404 SF industrial space for lease in Romeoville.
      1186 Arbor Dr, Romeoville, IL 60446
      View Details
    • Contact for pricing

      Romeoville Industrial Space Available

      400,400 SF industrial space with excellent access to major interstates.
      901 Bluff Rd, Romeoville, IL 60446
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - West Suburban Retail Strip Center; Multiple Units Available
    Where is this neighborhood center located?
    The property is located at 332 Budler Rd Romeoville, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 20,000 square foot retail strip center in Will County's West Suburban submarket.; Multiple tenancies available, with 11,438 square feet vacant.; Spaces range from 2,796 to 5,719 contiguous square feet.
    (708) 927-8000 Call to check price and availability
    Request Owner's contact information
    332 Budler Rd Romeoville, IL 60446
    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.
    332 Budler Rd
    Romeoville, IL 60446
    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
    332 Budler Rd Romeoville, IL 60446
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Neil Haleem
    Neil Haleem
    Real Estate License ID: 37077037778HN
    (708) 927-8000 (708) 873-5540
    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!