Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Kokomo Retail Investment Opportunity Title is generated by Realmo AI

    1805 E Hoffer Street, Kokomo, IN 46902

    View on Map
    Claim this Listing
    For Sale
    $950,000

    Retail - Kokomo, IN

    Type:Retail
    Property size:
    5,508 SF
    Lot size:
    0.57 Acres
    Price / SF:
    $172/SF
    Added:
    Apr 10, 2026
    Days on Market:
    50
    Last Refresh:
    May 29 at 6:06 pm

    Property Features for 1805 E Hoffer Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    5
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Parking
    21
    Parking features
    Paved or Surfaced
    Interior features
    Drywall, Demograph, Office Space, Reception Area
    Exterior features
    Demograph, Office Space, Reception Area
    Standard status
    Active
    APN
    34-10-06-476-025.000-002
    Size
    5,508 SF
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Tax Annual Amount
    23888

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2015
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Concrete, Stone, Stucco
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Jacob Wagner
    Jacob Wagner

    Listing agent Jacob Wagner License #RB23000239

    Listing office Coldwell Banker Real Estate Group 400 N High St. Suite 110 (Broker: Adam Ertel), Muncie, IN

    Listing date Apr 10, 2026

    MLS# 202612400 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑tenant commercial property built in 2015.
    • 5,508 SF building with three tenant spaces.
    • Suitable for investors or owner‑users.
    • Convenient access to major thoroughfares.
    • Strong local traffic and proximity to residential and commercial areas.
    • Well‑maintained with concrete, stone, and stucco construction.

    Overview

    This multi-tenant commercial property, constructed in 2015, is located at 1805 E Hoffer Street in Kokomo. The building has a size of 5,508 square feet and is situated on a 0.57-acre lot. The property features three tenant spaces, offering flexibility for investors or owner-users. Its location provides convenient access to major thoroughfares and benefits from local traffic. The property is near established residential neighborhoods and commercial corridors.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $87.9k $15.96
    − Vacancy −$3.9k −$0.70
    EGI $84.0k $15.26
    − OpEx −$25.2k −$4.58
    NOI $58.8k $10.68
    5,508 SF · lease $15.96/SF/yr · vacancy 4.40% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $840.4K
    $735.4K – $980.5K (±1% cap)
    NOI $58,828 @ 7.0% cap · market cap 6.19%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Warehouse
    $4.34M
    $3.80M – $5.06M (±1% cap)
    NOI $303,628 @ 7.0% cap · market cap 31.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ivy Rehab Physical ... Physician Steven Konechnik Physician Christopher Markus Physician Kyle Shaffer Physician MEAGAN ALEXANDRIA ABRAMS Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1092487
    Latitude
    40.4658981

    Nearby Similar for Sale

    • $149,900

      Move-in Ready Mixed-Use Building

      Versatile commercial space suitable for various business types.
      841 S MAIN Street, Kokomo, IN 46902
      View Details
    • $215,000

      Kokomo Office Building For Sale

      Well-maintained office building with open floorplan and expansion potential.
      2020 E Boulevard Street, Kokomo, IN 46902
      View Details
    • $550,000
      4,095 SF

      Established Car Wash with Billboard

      Single-story car wash with detailing addition and advertising income.
      3550 South Lafountain Street, Kokomo, IN, 46902
      View Details
    • $275,000

      Commercial Building with Ample Parking

      Retail building with access to 931 on 0.68 acres.
      145 CREEKSIDE Drive, Kokomo, IN 46901
      View Details
    • $839,900

      Kokomo Showroom, Office, Storage Property

      Showroom, office space, and storage units on 10 acres.
      394 S 00 EW Road, Kokomo, IN 46902
      View Details
    • $599,900
      36,547 SF

      Downtown Kokomo Commercial Property

      Versatile commercial building in downtown Kokomo with parking.
      618 South Main Street, Kokomo, IN 46901
      View Details
    • $19
      3,046 SF

      Kokomo Retail or Office Space

      3,046 SF retail or office space in Kokomo, Indiana.
      1400 E Hoffer St, Kokomo, IN 46902
      View Details
    • $1,360,000

      Kokomo Retail Investment Opportunity

      Two-tenant building on high-traffic Southway Blvd. with strong income.
      508 E Southway Boulevard, Kokomo, IN 46902
      View Details
    • $128,277

      Kokomo Restaurant/Bar Opportunity For Sale

      Restaurant/bar with general business zoning near new battery plant.
      2222 N Plate Street, Kokomo, IN 46901-1640
      View Details
    • $375,000
      768 SF

      Kokomo Auto Sales/Service Location

      Auto sales and service location with office and billboard.
      2019 N Washington Street, Kokomo, IN 46901
      View Details
    • $2,708,904
      1,400 SF

      Kokomo Restaurant with NNN Lease

      Restaurant with absolute NNN lease and zero landlord responsibilities.
      125 N Dixon Rd, Kokomo, IN
      View Details
    • $1,905,753
      1,400 SF

      Kokomo NNN Leased Retail Property

      NNN leased retail property in Kokomo, Indiana for sale.
      2085 N Reed Rd, Kokomo, IN
      View Details

    FAQs

    What type of property is this?
    Retail space - Multi-tenant retail property in Kokomo, built in 2015.
    Where is this retail space located?
    The property is located at 1805 E Hoffer Street Kokomo, IN.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Multi‑tenant commercial property built in 2015.; **5,508 SF building with three tenant spaces.**; Suitable for investors or owner‑users.
    (317) 448-8852
    We can help!
    Listing Contact
    Jacob Wagner
    Jacob Wagner
    Real Estate License ID: RB23000239
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1805 E Hoffer Street, Kokomo, IN 46902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!