Building Details

Year Built 1990

Buildings 1

Building Size 18,900 SF

Construction steel structure

Tenancy Multi

Listing Agency: Fortune Companies, Inc

Listed By: DJ Butcher · License #RB20000053 Show Phone

Source: Kmsrealestategroup

Added: Apr 24 Changed: Oct 8 Last Checked: Oct 7 at 5:09PM

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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 Fortune Companies, Inc

Investment Insights

Based on property information with market context.

This 18,900-square-foot flex property is a steel-constructed building with brick and stone veneer. The layout includes 15,456 square feet leased to two tenants, while 3,167 square feet remains available for an additional business or occupant. Central air is in place, and the structure can accommodate design changes or remodeling.

A new roof, new HVAC system, and ample parking add to the property’s existing improvements. The site offers access to SR 931 and is near Stellantis, GM Components, BorgWarner, and Community Hospital. Built in 1990, the property combines leased space with an available portion within a single flex-space asset.

Key Highlights

• 18,900 SF steel flex building with brick and stone veneer
• 15,456 SF leased to two tenants
• 3,167 SF available for an additional business or tenant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$193,914

Cap Rate

8.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,878,280 $3.9M

Cap Rate 7%

$2,770,200 $2.8M

Cap Rate 9%

$2,154,600 $2.2M

Market Conditions

NOI Build-Up for 18,900 SF

Gross rent

$340.2K $18.00/SF

− Vacancy

−$81.6K −$4.32/SF

EGI

$258.6K $13.68/SF

− OpEx

−$64.6K −$3.42/SF

NOI

$193.9K $10.26/SF

Area

Howard County, IN

Vacancy

24.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,878,280

Cap Rate 7%

$2,770,200

Cap Rate 9%

$2,154,600

Alternative Uses

Best Use

Industrial

$12.26M

$10.73M – $14.30M (±1% cap)

NOI $858,004 @ 7.0% cap · market cap 36.32%

Second Best

Office B

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,914 @ 7.0% cap · market cap 8.21%

Theoretical Best

Warehouse

$14.88M

$13.02M – $17.36M (±1% cap)

NOI $1,041,862 @ 7.0% cap · market cap 44.10%

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

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Law Firm Pharmacy HVAC Service Kitchen & Bath Showroom

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

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

396

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Flexible commercial building with updated roof, HVAC, and available space for an additional business or tenant.

Where is this flex space located?

The property is located at 1785 E Lincoln Rd Kokomo, IN.

What is the asking price?

The asking price for this property is $2,362,500.

What are key features of this property?

This property features: 18,900 SF steel flex building with brick and stone veneer; 15,456 SF leased to two tenants; 3,167 SF available for an additional business or tenant