Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    909 Belvedere Dr Kokomo, IN 46901

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $490,000

    Established Restaurant, High Traffic Area, Great Visibility

    Property Features for 909 Belvedere Dr

    General Information

    Property type
    Other commercial real estate
    Lot Size
    15,246 SF

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Dj Butcher
    Dj Butcher

    Listing Agency: Fortune Companies Inc Listing Agent: Dj Butcher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property, located at 909 Belvedere Drive in Kokomo, Indiana, presents a fantastic opportunity for a savvy investor or restaurateur. The building boasts approximately 4,627 square feet of space, ideally situated for optimal visibility and accessibility. Its prime location offers unparalleled convenience, being in close proximity to major retail anchors such as Markland Mall, Walmart, Meijer, Raising Cane's, Popeye's, McDonald's, Sonic, and Chipotle. This ensures high foot traffic and significant exposure to potential customers. The property sits on a 0.35-acre lot, providing ample parking for patrons and staff. Recent improvements enhance the property's appeal and functionality. The exterior has been freshly painted, presenting a clean and modern aesthetic. Furthermore, a new metal roof ensures long-term durability and protection. The building is offered at $490,000, representing a compelling investment in a thriving commercial corridor. This turnkey opportunity is perfect for an established restaurant looking to expand or a new venture seeking a strong foundation for success. The property's strategic location and recent upgrades make it a truly exceptional offering in the Kokomo market. Don't miss this chance to acquire a well-positioned, ready-to-operate restaurant in a high-demand area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    -86.10675
    Latitude
    40.47752

    Nearby Similar for Sale

    • New
      $399,000
      4,620 SF

      Commercial Garage Space with Workshop

      Commercial garage with workshop in Kokomo, Indiana for sale.
      1001 N Washington St, Kokomo, IN 46901
      View Details
    • New
      $839,900
      5,000 SF

      Kokomo Showroom, Office, Storage Property

      Showroom, office space, and storage units on 10 acres.
      394 S 00 Ew Rd, Kokomo, IN 46902
      View Details
    • New
      $75,000
      2,288 SF

      Kokomo Duplex Fixer-Upper

      Duplex with detached garage unit in Kokomo, Indiana.
      903 N Courtland Ave, Kokomo, IN 46901
      View Details
    • $275,000
      1,800 SF

      Commercial Building with Ample Parking

      Retail building with access to 931 on 0.68 acres.
      145 Creekside Dr, Kokomo, IN 46901
      View Details
    • $139,900
      Pending

      Kokomo Duplex Near Downtown

      Fully-leased duplex near downtown and baseball stadium.
      720 S Union St, Kokomo, IN 46901
      View Details
    • $1,360,000
      0.87 Acres

      High-Traffic Retail Investment Opportunity

      Two-tenant retail building on Southway Blvd with strong income.
      508 E Southway Blvd, Kokomo, IN 46902
      View Details
    • $132,208
      0.17 Acres

      Kokomo Restaurant/Bar Opportunity For Sale

      Restaurant/bar with general business zoning near new battery plant.
      2222 N Plate St, Kokomo, IN 46901
      View Details
    • $649,900
      1.61 Acres

      Mixed-Use Property in High-Traffic Area

      Versatile property with updated offices, mechanic garages, and car lot.
      1518 S Dixon Rd, Kokomo, IN 46902
      View Details
    • $150,000
      1,908 SF

      Kokomo Duplex: Investment Opportunity

      Cash-flowing duplex in Kokomo with solid rental history.
      801 Brandon St, Kokomo, IN 46901
      View Details
    • $125,000
      1,956 SF

      Kokomo Triplex Investment Opportunity

      Three-unit property in Kokomo, Indiana, ideal for investors.
      914 S Market St, Kokomo, IN 46902
      View Details
    • $375,000
      768 SF

      Kokomo Auto Sales/Service Location

      Auto sales and service location with office and billboard.
      2019 N Washington St, Kokomo, IN 46901
      View Details
    • $169,500
      1,200 SF

      Updated Duplex in Kokomo, IN

      Well-maintained duplex with updates, ideal for investment or owner-occupancy.
      1406 N Philips St, Kokomo, IN 46901
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Established Restaurant, High Traffic Area, Great Visibility
    Where is this commercial real estate located?
    The property is located at 909 Belvedere Dr Kokomo, IN.
    What is the asking price?
    The asking price for this property is $490,000.
    (765) 457-1700
    Request Owner's contact information
    909 Belvedere Dr Kokomo, IN 46901
    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.
    909 Belvedere Dr
    Kokomo, IN 46901
    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
    909 Belvedere Dr Kokomo, IN 46901
    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

    We can help!
    Listing Contact
    Dj Butcher
    Dj Butcher
    Real Estate License ID: RB20000053
    (765) 457-1700 (765) 860-2591
    Learn more
    Google sign-in failed. Please try again or use another login method.