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    508 E Southway Blvd Kokomo, IN 46902

    For Sale
    $1,360,000

    Retail/Service - Kokomo, IN

    Lot size:
    0.87 Acres
    Days on Market:
    64
    Last Refresh:
    Dec 9 at 3:06 pm

    Property Features for 508 E Southway Blvd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    C-2
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    Interior features
    Security System, Carpeting, Restroom(s), 220 Volts, Handicap Access
    Accessibility
    Accessible Approach with Ramp
    Lot size
    0.87 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Architectural style
    Other

    Remax Real Estate Associates (812) 235-4433 [email protected]

    Listing agent DAVE CASH (812) 235-4433 License #RB14017104

    Listing date Oct 7, 2025

    MLS# 105764 Listing URL

    Copyright © 2025 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.

    Overview

    High-Traffic Retail Investment Opportunity

    This two-tenant building is located on high-traffic Southway Blvd in Kokomo, Indiana. It is currently home to ATI Physical Therapy and a restaurant with multiple locations. The property generates a net operating income (NOI) of $105,630, reflecting 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, while Ramen Tea contributes $17,124 toward taxes, CAM, and insurance under their NNN lease. This leaves the owner with approximately $1,100 in expenses per year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farm to Fork BBQ Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.124357
    Latitude
    40.444748

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    FAQs

    What type of property is this?
    Retail space - Two-tenant retail building on Southway Blvd with strong income.
    Where is this retail space located?
    The property is located at 508 E Southway Blvd 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).; - NNN leases in place with established tenants (ATI Physical Therapy and experienced restaurant).
    (812) 235-4433
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    508 E Southway Blvd Kokomo, IN 46902
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    Kokomo, IN 46902
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    Realmo Value Estimation

    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.

    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.

    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
    508 E Southway Blvd Kokomo, IN 46902
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