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Kokomo Retail Investment Opportunity

508 E Southway Boulevard Kokomo, IN 46902

For Sale

$1,360,000

SINGLE_FAMILY - Kokomo, IN

Type:Retail

Lot size:

0.87 Acres

For Sale

$1,360,000

SINGLE_FAMILY - Kokomo, IN

Type:Retail

Lot size:

0.87 Acres

Added:: Mar 11, 2025
Days on Market:: 488
Last Refresh:: Jul 11 at 3:06 am

Property Features for 508 E Southway Boulevard

General Information

Property type: Residential
Property subtype: Retail
Zoning: C-2
Security features: Security System
Interior features: Security System, Carpeting, Restroom(s), 220 Volts, Handicap Access
Accessibility: Accessible Approach with Ramp
Standard status: Active
APN: 34-10-18-101-034.000-002
Lot size: 0.87 Acres

Utilities

Heating system: Natural Gas
Cooling system: Central Air

Listing agent Dave Cash License #RB14017104

Listing office REMAX R.E.A. 1000 S Third St., Terre Haute, IN

Listing date Mar 11, 2025

MLS# 105764

Copyright © 2026 Terre Haute Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This two-tenant building is located on high-traffic Southway Blvd in Kokomo, IN. It is currently home to ATI Physical Therapy and a restaurant with multiple locations. The property has a net operating income (NOI) of $105,630, representing a 7.8% cap rate. The property is in great condition and presents a great investment opportunity. The lot size is 0.87 acres. The zoning is C-2. ATI has a NNN lease covering 55% of the building, and Ramen Tea contributes $17,124 toward taxes, CAM, and insurance, leaving the owner with only $1,100 in expenses per year.

Key Highlights

High traffic location on Southway Blvd.
Net Operating Income (NOI) of $105,630 (7.8% Cap Rate)
Two established tenants: ATI Physical Therapy (NNN Lease 55%) and Ramen Tea

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Farm to Fork BBQ Restaurant

Suggested Use

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2903 S Washington Street, Kokomo, IN 46902

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For sale
Retail space
IN
Kokomo
46902
508 E Southway Boulevard

What type of property is this?

Retail space - Two-tenant building on high-traffic Southway Blvd. with strong income.

Where is this retail space located?

The property is located at 508 E Southway Boulevard Kokomo, IN.

What is the asking price?

The asking price for this property is $1,360,000.

What are key features of this property?

This property features: High traffic location on Southway Blvd.; Net Operating Income (NOI) of $105,630 (7.8% Cap Rate); Two established tenants: **ATI Physical Therapy (NNN Lease 55%) and Ramen Tea**

508 E Southway Boulevard Kokomo, IN 46902

SINGLE_FAMILY - Kokomo, IN

Property Features for 508 E Southway Boulevard

General Information

Utilities

Investment Insights

Key Highlights

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Multi-Tenant Retail Building

Move-In Ready Retail and Service Building

Established Car Wash with Billboard

Two-Unit Office Building with Billboard

Commercial Building with Parking Access

Brick Office Building with Garage

Industrial Flex Property with Expansion Space

Flex Warehouse with Showroom

All-Brick Office Building

Downtown Kokomo Commercial Property

Three-Unit Residential Income Property

Retail

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