Updated Flex Facility with
For Sale
$1,175,000
1811 E Havens St, Kokomo, IN 46901
LI-zoned property combines substantial warehouse space with refreshed offices and employee-oriented amenities.
Property Size12,635 SF
Lot Size1.56 Acres
Price / SF$92
Days on Market40
Property Features for 1811 E Havens St
General Information
Standard status
Active
Size
12,635 SF
Lot size
1.56 Acres
Zoning
LI
Warehouse & Industrial
Clear Height
15 ft
Office Build-Out
2,800 SF
Additional Details
Highway Access
Yes
Amenities
conference room
break room
Building Details
Year Built
1992
Listing Agency:
F.C. Tucker-Tomlinson
(765) 776-1938
Listed By:
Susie Woolley
Source:
Callcriswell
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 25 at 8:03AM
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 F.C. Tucker-Tomlinson
Investment Insights
Based on property information with market context.
This flex facility combines more than 10,000 square feet of warehouse area with 2,800 square feet of office space. The warehouse includes 15-foot ceilings, two 15-foot doors, and a 12-by-14-foot overhead door. Office improvements include a conference room, large break room, three bathrooms, and multiple offices.
The property is positioned just off US 931 on a 1.56-acre site. The office areas have updated flooring, drywall, paint, light fixtures, and blinds. A 2024 improvement program added two high-efficiency furnaces, central air, fresh interior and exterior paint, and a newly paved parking lot. The property is zoned LI.
The property is positioned just off US 931 on a 1.56-acre site. The office areas have updated flooring, drywall, paint, light fixtures, and blinds. A 2024 improvement program added two high-efficiency furnaces, central air, fresh interior and exterior paint, and a newly paved parking lot. The property is zoned LI.
Key Highlights
- More than 10,000 sq ft of warehouse space with 15' ceilings
- 2 15' doors and 12x14 overhead door
- 2,800 sq ft of office space with multiple offices, conference room, break room, and 3 bathrooms
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
$37,699
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
3.21%
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%
$753,980
$754.0K
Cap Rate 7%
$538,557
$538.6K
Cap Rate 9%
$418,878
$418.9K
Market Conditions
NOI Build-Up for 12,635 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
$62.2K $4.92/SF
− Vacancy
−$4.2K −$0.33/SF
EGI
$58.0K $4.59/SF
− OpEx
−$20.3K −$1.61/SF
NOI
$37.7K $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%
$753,980
Cap Rate 7%
$538,557
Cap Rate 9%
$418,878
Alternative Uses
Best Use
Warehouse
$9.95M
$8.71M – $11.61M
NOI $696,504 @ 7.0% cap · market cap 59.28%
Second Best
Industrial
$8.19M
$7.17M – $9.56M
NOI $573,592 @ 7.0% cap · market cap 48.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - LI-zoned property combines substantial warehouse space with refreshed offices and employee-oriented amenities.
Where is this flex space located?
The property is located at 1811 E Havens St Kokomo, IN.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: More than 10,000 sq ft of warehouse space with 15' ceilings; 2 15' doors and 12x14 overhead door; 2,800 sq ft of office space with multiple offices, conference room, break room, and 3 bathrooms
