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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1387 Joliet St Dyer, IN 46311-2024

    • Showrooms
    • 5,760 SF
    • 1.17 lot acres
    OFF-MARKET
    Value Estimations
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1096791
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • J & F Chiattello Construction, Inc. / Window Installation Service / Construction Company
    • Recon Watch Company / Watch Store
    • ASAP Management / Contractor

    Property Details for 1387 Joliet St

    Year built
    2000
    Construction
    WOOD
    Lot size
    1.17 lot acres
    Property size
    5,760 SF
    Property type
    Showrooms
    APN
    45-11-18-202-008.000-034
    APU
    451118202008000034

    Description

    This exceptional 2,040-square-foot Class A executive office building, constructed in 2021, presents a unique single-tenant occupancy opportunity in Dyer, Indiana. Situated on a 0.46-acre lot at 1387 Joliet Road (US Hwy 30), this property boasts a prime location within a thriving commercial corridor, experiencing a high daily traffic count of 42,180 vehicles. The building features a finished interior, including two bathrooms, and ample on-site surface parking with 30 spaces. The property is ideal for a variety of uses, including retail, office, medical, or quick-service restaurants (QSR), and even includes a drive-thru. The asking rent is $5,500 per month on a gross lease basis, with a minimum five-year lease term and a security deposit equivalent to one month's rent. Immediate occupancy is available. The property's address is 1387 Joliet Road, Dyer, IN 46311, and its APN is 45-11-18-202-009.000-034. This one-story building offers a convenient and highly visible location for businesses seeking to establish a strong presence in this dynamic area. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $950,000
      6.5%
      $875,000
      7%
      $815,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $686,000
      Market price range: $143k - $687k
      AI Estimate
      $495,000
      Market price range: $146k - $496k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $435,000
      WAREHOUSE, STORAGE
      $430,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dyer
    County
    Lake
    State
    Indiana
    Longitude
    -87.4961
    Latitude
    41.4928
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,001
    $117,000
    $900,700
    $1,017,700
    -
    $117,000
    $900,700
    $1,017,700

    Comparable in this City

    • Value Estimation by Request
      4,271 SF

      1101 Joliet St

      FINANCIAL BUILDING • 4,271 SF
      1101 Joliet St, Dyer, IN 46311-1926
      View Details
    • Value Estimation
      $755,000
      3,767 SF

      630 Joliet St

      CONVENIENCE STORE • 3,767 SF
      630 Joliet St, Dyer, IN 46311-1717
      View Details
    • Value Estimation
      $535,000
      6,263 SF

      10100 Calumet Ave

      FINANCIAL BUILDING • 6,263 SF
      10100 Calumet Ave, Dyer, IN 46311-3330
      View Details
    • Value Estimation
      $790,000
      7,200 SF

      871 Joliet St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      871 Joliet St, Dyer, IN 46311-1920
      View Details
    • Value Estimation
      $600,000
      2,829 SF

      1502 Sheffield Ave

      CONVENIENCE STORE • 2,829 SF
      1502 Sheffield Ave, Dyer, IN 46311-1552
      View Details
    • Value Estimation
      $860,000
      4,548 SF

      718 Joliet St

      CONVENIENCE STORE • 4,548 SF
      718 Joliet St, Dyer, IN 46311-1720
      View Details

    Similar Nearby for Sale

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    • $400,000

      Dyer Commercial Land - $400K

      High-traffic Dyer land, ideal for development.
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    • $769,900
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      Dyer Commercial Building For Sale

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      Dyer Commercial Building on Sheffield

      Spacious commercial building suitable for various business uses and redevelopment.
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    • $884,900
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      Sheffield Ave Restaurant/Bar for Sale

      Turnkey Dyer, IN Restaurant & Bar
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    Similar Nearby for Lease

    • $20 SF/Yr
      2,918 SF

      Dyer Mixed-Use Retail/Office Space

      Two-story building in Dyer/St. John area with flexible floor plan.
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      View Details
    • New
      $28 SF/Yr
      8,484 SF

      Retail Center in Dyer, Indiana

      New retail center with drive-thru availability near Illinois border.
      14805 101St Ave, Dyer, IN 46311
      View Details
    • $8,270 /Mo
      3,970 SF

      Dyer, IN Commercial Opportunity

      Turnkey restaurant/bar or redevelopment opportunity on Sheffield Avenue.
      1209 Sheffield Ave, Dyer, IN 46311
      View Details
    • $6,500 /Mo
      3,121 SF

      Retail Space with Ample Parking

      Retail property featuring updated exterior and 66 parking spaces.
      1468 Joliet St, Dyer, IN 46311
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    • $2,000 /Mo

      Prime Retail Space Available

      Over 10,000 sqft of commercial space in Dyer, Indiana.
      10201 Calumet Ave, Dyer, IN 46311
      View Details
    • Contact for pricing
      1,380 SF

      Retail Space in Dyer Center

      Retail space for lease in Dyer, Indiana near Chicago.
      871-879 Joliet St, Dyer, IN 46311
      View Details
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    Dyer, IN 46311-2024
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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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