Flex Property with Two
New
For Sale
$175,000
1216 E MARKLAND Avenue, Kokomo, IN 46902
Two-building commercial setup combines a refreshed showroom with accessible workspace and storage.
Property Size2,780 SF
Price / SF$62.95
Days on Market5
Property Features for 1216 E MARKLAND Avenue
General Information
Standard status
Active
Size
2,780 SF
Building Details
Buildings
2
Listing Agency:
The Hardie Group
(765) 457-7214
Listed By:
Gina Key · License #RB14036043
Source:
Midwestrealestategroup
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 4:17PM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,295
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$165,900
$165.9K
Cap Rate 7%
$118,500
$118.5K
Cap Rate 9%
$92,167
$92.2K
Market Conditions
NOI Build-Up for 2,780 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $153,247 @ 7.0% cap · market cap 87.57%
Second Best
Industrial
$1.80M
$1.58M – $2.10M
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.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 Avenue 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
