Restaurant and Bar with
For Sale
$550,000
113 E Sycamore St, Kokomo, IN 46901
First-floor restaurant/bar space with outside seating and substantial downstairs storage, plus parking next to two parking garages.
Property Size10,434 SF
Price / SF$52.71
Days on Market517
Property Features for 113 E Sycamore St
General Information
Standard status
Active
Size
10,434 SF
Taxes and HOA fees
Annual Taxes
$4,254
Listing Agency:
Fortune Companies, Inc
(765) 860-2591
Listed By:
DJ Butcher
(765) 860-2591
Source:
Exprealty
Added: Mar 31, 2025
Changed: Aug 21
Last Checked: Aug 26 at 10:27AM
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 Fortune Companies, Inc
Investment Insights
Based on property information with market context.
Located at 113 E Sycamore St in Kokomo, this restaurant and bar property is set up with a first-floor dining and entertainment area plus additional downstairs storage. The first floor provides approximately 4,882 sf, with another 5,552 sf of storage space downstairs.
Outside seating adds usable capacity, and the property is positioned next to two parking garages, providing plenty of parking. It’s also within walking distance of downtown attractions, including a baseball field and basketball arena, as well as walking trails offered in the area. A new convention center development is about a block away, further supporting continued activity in the downtown core.
Outside seating adds usable capacity, and the property is positioned next to two parking garages, providing plenty of parking. It’s also within walking distance of downtown attractions, including a baseball field and basketball arena, as well as walking trails offered in the area. A new convention center development is about a block away, further supporting continued activity in the downtown core.
Key Highlights
- First‑floor restaurant/bar space in downtown Kokomo
- Approximately 4,882 SF on the first floor plus approximately 5,552 SF of downstairs storage
- Outside seating available for added guest capacity
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
$44,219
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
8.04%
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%
$884,380
$884.4K
Cap Rate 7%
$631,700
$631.7K
Cap Rate 9%
$491,322
$491.3K
Market Conditions
NOI Build-Up for 10,434 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
$61.4K $5.88/SF
− Vacancy
−$2.4K −$0.23/SF
EGI
$59.0K $5.65/SF
− OpEx
−$14.7K −$1.41/SF
NOI
$44.2K $4.24/SF
Area
Howard County, IN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
25.00%
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%
$884,380
Cap Rate 7%
$631,700
Cap Rate 9%
$491,322
Alternative Uses
Best Use
Specialty Retail
$631.7K
$552.7K – $737.0K
NOI $44,219 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.22M
$7.19M – $9.59M
NOI $575,174 @ 7.0% cap · market cap 104.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Home Improvements & Furnishings 9%
Mobil
Shops & Services
4,570 visits/mo
0.4 miles
BMO Harris Bank
Shops & Services
963 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
580 visits/mo
0.2 miles
Demographics for 46901, IN
38,072
Population
18,307
Households
2.1
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
140.9 sq mi
ZIP Area
270
Density / Sq Mi
$61,041
Median Household Income
$37,107
Median Earnings
$869
Median Rent
$131,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cooper's Pub — 113 E Sycamore St, Kokomo, IN 46901
- Cook McDoogal's Irish Pub — 100 N Main St, Kokomo, IN 46901
- Cozy Lounge — 222 N Buckeye St, Kokomo, IN 46901
- The Warehouse — 801 N McCann St, Kokomo, IN 46901
- Elbow Room — 1004 N Washington St, Kokomo, IN 46901
Frequently Asked Questions
What type of property is this?
Bar & Pub - First-floor restaurant/bar space with outside seating and substantial downstairs storage, plus parking next to two parking garages.
Where is this bar & pub located?
The property is located at 113 E Sycamore St Kokomo, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: First‑floor restaurant/bar space in downtown Kokomo; Approximately 4,882 SF on the first floor plus approximately 5,552 SF of downstairs storage; Outside seating available for added guest capacity
