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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Industrial properties
353 Airport Dr Joliet, IL 60431-4894
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-4032519
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
3,528 SF
Lot
1.91 ac (83,396 SF)
APN
05-06-15-204-027-1004
UPID
US28-4032519
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
CrossFit Mettle and Honor Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$362k
Blend (final)
Blend
$555k
Owner & transaction history
Rrh Development LLC · 3 yrs held
Rrh Development LLC
since 2023
Last sale
$545,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$475,000
+33.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Joliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Joliet submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$630,000
ML approach
$575,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$355,000
Current use
COMMERCIAL (GENERAL)
$475,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $545k (Feb 8 2023)
Last sale anchor
$545k
Feb 8 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$157 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,929
Tax year 2023
Assessed value
$86,513
Assessed 2023
Previous assessed
$86,513
+0.0% YoY
Effective rate
9.17%
On assessed value
Assessed land
$12,869
Assessed improvement
$73,644
Land market value
$38,607
Improvement market value
$220,932
Total market value
$259,539
Applied tax rate
520.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Heating
NONE
Total area
3,528 SF
Lot
1.91 ac (83,396 SF)
APN
05-06-15-204-027-1004
UPID
US28-4032519
Jurisdiction
WILL
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$355,000
COMMERCIAL (GENERAL)
Est. value
$475,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Lot
1.91 ac
Current owner
From public records · entity-resolved
Rrh Development LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1840 MOEN AVE UNIT A, ROCKDALE, IL 60436-1083
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 8, 2023
—
Rrh Development LLC
Radiological Solutions INC
Quit Claim Deed
related
—
Jan 6, 2020
$545,000
Radiological Solutions INC
Vermont Builders INC
Warranty Deed
—
Oct 9, 2019
—
Vermont Builders INC
—
Deed
related
$100,000 · First Fed'l Svgs Bk
May 28, 2019
—
Vermont Builders INC
—
Trustees Deed
related
$150,000 · First Fed'l Svgs Bk
Feb 13, 2019
—
Vermont Builders INC
—
Deed
related
$452,000 · First Fed'l Svgs Bk
—
—
Vermont Builders INC
—
Loan Modification
related
$452,000 · First Fed'l Svgs Bk
—
—
Vermont Builders INC
—
Loan Modification
related
$207,662 · First Fed'l Svgs Bk
—
—
Vermont Builders INC
—
Loan Modification
related
$100,000 · First Fed'l Svgs Bk
—
—
Vermont Builders INC
—
Deed Of Trust
related
$220,000 · First Federal Savings Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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