Joliet, Illinois, with a population of approximately 150,000, offers a unique opportunity for investors to capitalize on the city's rich history, notable people, and appearances in popular culture. Retail Properties in Joliet for sale provide a diverse range of investment options, from small strip centers to large shopping malls. These properties can represent a stable source of income, with a potential for long-term appreciation in value. Joliet's strategic location, approximately 35 miles southwest of Chicago, makes it an attractive destination for businesses and travelers alike. The city's infrastructure, including the Joliet Transportation Center, Pace local bus service, and major highways, provides easy access to the surrounding areas. Additionally, Joliet is home to several institutions, such as Joliet Junior College and the University of St. Francis, which contribute to the city's economic growth. The presence of amenities like the Pilcher Park Nature Center, Louis Joliet Mall, and the Joliet Slammers baseball team at Duly Health and Care Field further enhance the city's appeal.
Joliet's Retail Properties for sale offer a unique blend of history, culture, and entertainment. With 16 available listings, investors can choose from a range of properties that cater to different business needs. The average price per square foot for Retail Properties in Joliet is $358 USD, with an average size of 9,076 square feet. The largest Retail Property available is 25,000 square feet. Shopping Centers, like the Louis Joliet Mall, offer a diverse range of retail options, while Restaurants, such as those in the downtown area, provide a unique dining experience. Office Properties, like those near the Joliet Transportation Center, offer a convenient location for businesses, and Hotels, such as Harrah's hotel and casino, cater to the city's tourist population. Overall, Joliet's Retail Properties for sale present a compelling investment opportunity, with a potential for long-term growth and appreciation in value.
What is the average cap rate for retail properties in Joliet?
When it comes to retail properties in Joliet, investors can expect an average cap rate of 7.28%, which is a key metric to consider when evaluating potential investments. To learn more about how cap rates work and what they mean for your investment, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Joliet, Illinois, the location and foot traffic of a retail property significantly impact its value. Properties situated in high-traffic areas, such as downtown Joliet near the Rialto Square Theatre and Harrah's Casino, or along major highways like Interstate 55 and Interstate 80, tend to have higher values due to increased exposure and accessibility, whereas those in less populated areas may have lower values.
