Building Details

Year Built 1973

Listing Agency: Fortune Companies, Inc

Listed By: DJ Butcher · License #RB20000053 Show Phone

Source: Callcriswell

Added: Mar 26 Changed: Oct 26 Last Checked: Oct 7 at 2:32PM

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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

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Investment Insights

Based on property information with market context.

This 34,968 sq. ft. commercial building, situated on 3.93 acres, presents a versatile opportunity for warehousing, manufacturing, office, and retail purposes. The property includes an office area of approximately 4,426 sq. ft., featuring 3 private offices, a break room, 2 bathrooms, a conference room, and a large open area adaptable for additional offices, retail space, or workspace. The remaining 30,542 sq. ft. consists of open warehouse space. The warehouse area is equipped with 7 overhead doors and has a ceiling height of 17'10". Ample parking is available, along with an outside fenced-in area for secure storage. The building is located off of 931, a few minutes south of the new battery plant being developed in Kokomo.

Key Highlights

• Large 34,968 sq. ft. building suitable for warehousing, manufacturing, office, and/or retail.
• Excellent location near the new battery plant off of 931 in Kokomo.
• Substantial 3.93‑acre lot with ample parking and a fenced‑in outdoor storage area.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,335

Cap Rate

6.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,086,700 $2.1M

Cap Rate 7%

$1,490,500 $1.5M

Cap Rate 9%

$1,159,278 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 34,968 SF

Gross rent

$172.0K $4.92/SF

− Vacancy

−$11.5K −$0.33/SF

EGI

$160.5K $4.59/SF

− OpEx

−$56.2K −$1.61/SF

NOI

$104.3K $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%

$2,086,700

Cap Rate 7%

$1,490,500

Cap Rate 9%

$1,159,278

Alternative Uses

Best Use

Industrial

$22.68M

$19.84M – $26.46M (±1% cap)

NOI $1,587,444 @ 7.0% cap · market cap 99.22%

Second Best

Flex RnD

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,335 @ 7.0% cap · market cap 6.52%

Theoretical Best

Warehouse

$27.54M

$24.10M – $32.13M (±1% cap)

NOI $1,927,610 @ 7.0% cap · market cap 120.48%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Richards Building Supply Building Supply

Suggested Use

Top Pick Hair Salon Spa & Massage Center Restaurant Auto Parts Store 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.

Location Intelligence

Trade Area within ½ mile

189

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 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 - 34,968 SF building suitable for warehousing, manufacturing, office, retail.

Where is this flex space located?

The property is located at 1801 E North St Kokomo, IN.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Large 34,968 sq. ft. building suitable for warehousing, manufacturing, office, and/or retail.; Excellent location near the new battery plant off of 931 in Kokomo.; Substantial 3.93‑acre lot with ample parking and a fenced‑in outdoor storage area.