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    Property profile & analytics

    104 Ridge Rd Minooka, IL 60447

    • Retail properties
    • 33,000 SF
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ridge Chiropractic Center / Chiropractor / Acupuncture Clinic
    • Darren Cissell, DC / Chiropractor
    • Three Rivers Orthodontist / Orthodontist
    • Iron&Glass Craft Beer Minooka / Cocktail Bar / Liquor Store
    • Los Campesinos / Mexican Restaurant

    Property Details for 104 Ridge Rd

    Year built
    2006
    Property size
    33,000 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional retail opportunity is located at the bustling intersection of Ridge Road and W Mondamin in Minooka, Illinois, zip code 60447. The property, built in 2006, consists of two single-story buildings totaling 33,000 square feet, with two available suites, each measuring 1,200 square feet. Currently, 2,400 square feet are vacant and ready for immediate occupancy. The minimum divisible space is 1,200 square feet, and the maximum contiguous space is also 1,200 square feet. This high-traffic location benefits from its proximity to I-80 and a fully signalized intersection, ensuring excellent visibility and accessibility. The property is zoned B2 and sits within a thriving community center, alongside established businesses such as McDonald's, Dunkin' Donuts, Baskin-Robbins, Los Campesinos Mexican Grill, Red Ritchey Orthodontics, and Ridge Chiropractic. The spaces are in shell condition, providing flexibility for tenant build-outs. This presents a unique chance to establish a presence in a prime Minooka location with strong existing tenant synergy. Grundy County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Minooka
    County
    Grundy
    State
    Illinois
    Longitude
    -88.2712
    Latitude
    41.4557

    Comparable in this City

    • Value Estimation by Request

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      252 SF

      768 Twin Rail Dr

      COMMERCIAL (GENERAL) • 252 SF
      768 Twin Rail Dr, Minooka, IL 60447-8850
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    • Value Estimation
      $630,000
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      601 Mondamin St

      COMMERCIAL (GENERAL) • 4,356 SF
      601 Mondamin St, Minooka, IL 60447-9032
      View Details
    • Value Estimation
      $580,000
      3,480 SF

      123 Mondamin St

      COMMERCIAL (GENERAL) • 3,480 SF
      123 Mondamin St, Minooka, IL 60447
      View Details
    • Value Estimation
      $550,000
      4,462 SF

      103 Osage St

      COMMERCIAL (GENERAL) • 4,462 SF
      103 Osage St, Minooka, IL 60447-8779
      View Details

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    Similar Nearby for Lease

    • $14 SF/Yr
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      Crossroads of Minooka Retail Space

      Prime Minooka retail space, 2 suites available.
      104 Ridge Rd, Minooka, IL 60447
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      Minooka Retail Outlot Opportunity

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      Minooka Commercial Space Available

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      1,950 SF

      Retail Space in Parker Square

      Retail space available at a busy, accessible intersection.
      410-462 W Mondamin St, Minooka, IL 60447
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      324,850 SF

      Industrial Space with Highway Access

      324,850 SF industrial property with superior interstate access.
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      409,050 SF

      Industrial Property Proposed Construction

      Proposed industrial property construction with 409,050 square feet in Minooka.
      Minooka Rd | Minooka, Minooka, IL 60447
      View Details
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    104 Ridge Rd
    Minooka, IL 60447
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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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