Building Details

Year Built 1966

Buildings 2

Listing Agency: The Hardie Group

Listed By: Gina Key · License #RB14036043 Show Phone

Source: Kmsrealestategroup

Added: Aug 26 Changed: Oct 15 Last Checked: Oct 7 at 2:33PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Hardie Group

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Investment Insights

Based on property information with market context.

This flex property includes two separate commercial buildings totaling 2,780 square feet. The 1,280-square-foot building is arranged as a showroom with newer flooring, a bathroom, and a revised checkout area featuring a granite countertop. The 1,500-square-foot second building provides large garage doors and space suited to storage or hands-on work, along with an additional loft area for inventory, equipment, or office use.

Located at 1216 E Markland Avenue in Kokomo, Indiana, the property brings showroom, workspace, and storage functions together across two buildings. The configuration allows the buildings to support separate operational needs, including business activity in one structure and storage or expansion in the other.

Key Highlights

• Two buildings provide a combined 2,780 square feet
• 1,280‑square‑foot showroom building with newer flooring and a bathroom
• Updated checkout area with a new granite countertop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,295

Cap Rate

4.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$165,900 $165.9K

Cap Rate 7%

$118,500 $118.5K

Cap Rate 9%

$92,167 $92.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,780 SF

Gross rent

$13.7K $4.92/SF

− Vacancy

−$916 −$0.33/SF

EGI

$12.8K $4.59/SF

− OpEx

−$4.5K −$1.61/SF

NOI

$8.3K $2.98/SF

Area

Howard County, IN

Vacancy

6.70%

Lease Rate

$4.92 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$165,900

Cap Rate 7%

$118,500

Cap Rate 9%

$92,167

Alternative Uses

Best Use

Warehouse

$2.19M

$1.92M – $2.55M (±1% cap)

NOI $153,247 @ 7.0% cap · market cap 87.57%

Second Best

Industrial

$1.80M

$1.58M – $2.10M (±1% cap)

NOI $126,204 @ 7.0% cap · market cap 72.12%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Danny Bryant Fab ... Auto Repair Shop

Suggested Use

Top Pick Law Firm Parking Lot & Garage Garden Center Veterinary Clinic Locksmith Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

620

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 46902, IN

36,038

Population

18,004

Households

2

Avg Household Size

42

Median Age

20%

College-Educated

92%

High-School Grad

50.7 sq mi

ZIP Area

711

Density / Sq Mi

$59,548

Median Household Income

$36,902

Median Earnings

$929

Median Rent

$154,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two-building commercial setup combines a refreshed showroom with accessible workspace and storage.

Where is this flex space located?

The property is located at 1216 E Markland Ave Kokomo, IN.

What is the asking price?

The asking price for this property is $175,000.

What are key features of this property?

This property features: Two buildings provide a combined 2,780 square feet; 1,280‑square‑foot showroom building with newer flooring and a bathroom; Updated checkout area with a new granite countertop