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    1 Meadowview Ctr Kankakee, IL 60901

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    1 Meadowview Ctr Kankakee, IL 60901

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    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Thighstop / Restaurant
    • Wingstop / Restaurant

    Property Details for 1 Meadowview Ctr

    Property type
    Retail properties & Spaces

    Description

    The Shoppes at Meadowview, located at 1 Meadowview Center, Kankakee, IL 60901, offers 17 available retail spaces ranging from 718 to 12,158 square feet. This C-2 zoned property boasts excellent visibility at the signalized intersection of Kennedy Drive and North 5th Avenue, with over 28,000 vehicles passing daily. The center benefits from dual-sided monument signage along Kennedy Drive, ensuring high exposure. Join established tenants such as Classic Cinema, Planet Fitness, Citi Trends, Family Dollar, O'Reilly Auto Parts, and Athletico. New management is investing in significant upgrades, including landscaping, renovations, and maintenance, to elevate the property to the highest standards in the area. Strategically located within two miles of Riverside Medical Center

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kankakee
    County
    Kankakee
    State
    Illinois
    Longitude
    -87.8754
    Latitude
    41.1356

    Comparable in this City

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      1557 Ct St

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    • Value Estimation by Request
      0.14 Acres

      1637 Ct St

      VACANT COMMERCIAL LAND • 0.14 Acres
      1637 Ct St, Kankakee, IL 60901-4359
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      0.70 Acres

      1898 Ct St

      COMMERCIAL (GENERAL) • 0.70 Acres
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      648 Ct St

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      648 Ct St, Kankakee, IL 60901-4011
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      0.11 Acres

      687 Ct St

      COMMERCIAL (GENERAL) • 0.11 Acres
      687 Ct St, Kankakee, IL 60901-4010
      View Details

    Similar Nearby for Sale

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      5,200 SF

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      4,825 SF

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      Downtown Kankakee Commercial Building For Sale

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    Similar Nearby for Lease

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      41,466 SF

      Retail Space in Kankakee Center

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      1030-1190 North 5Th Ave, Kankakee, IL 60901
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      9,000 SF

      Kankakee Retail Space Available

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      Retail Space in Kankakee

      Retail spaces available in established Kankakee shopping center.
      1 Meadowview Ctr, Kankakee, IL 60901
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      1,600 SF

      Retail Space Near Walmart

      Retail space available near Walmart Supercenter.
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      Kankakee Office Space Available

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      11,803 SF

      Kankakee Office Space Available

      Office space available for rent in Kankakee, Illinois.
      450 N Kennedy Dr, Kankakee, IL 60901
      View Details
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    1 Meadowview Ctr
    Kankakee, IL 60901
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    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
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