Flex Space with
For Sale
$2,200,000
1816 S Dixon Rd, Kokomo, IN 46902
Commercial property combines customer-facing showroom space with offices and warehouse functionality.
Property Size9,700 SF
Price / SF$226.15
Days on Market42
Property Features for 1816 S Dixon Rd
General Information
Standard status
Active
Size
9,700 SF
Additional Details
Business Included
Yes
Building Details
Year Built
2012
Building Size
9,700 SF
Listing Agency:
The Wyman Group
(765) 854-1234
Listed By:
Paul Wyman · License #RB14023441
Source:
Spencerchildersgroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:30AM
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 Wyman Group
Investment Insights
Based on property information with market context.
This 9,700-square-foot flex property brings together a showroom, dedicated office areas, five bathrooms, and substantial work and warehouse space. The layout supports varied commercial operations, with two 12-foot overhead doors providing direct access for equipment, materials, and deliveries. The sale includes the building, operating business, equipment, and inventory.
Located on Dixon Road in Kokomo, the property also offers a large on-site parking area for customers, employees, and service activity. The combination of showroom, office, warehouse, and operational components creates a flexible commercial setting with both customer-facing and back-of-house space.
Located on Dixon Road in Kokomo, the property also offers a large on-site parking area for customers, employees, and service activity. The combination of showroom, office, warehouse, and operational components creates a flexible commercial setting with both customer-facing and back-of-house space.
Key Highlights
- 9,700 sq ft flex property with showroom, offices, work areas, and warehouse space
- Two 12' overhead doors support equipment and delivery access
- Five bathrooms included in the building layout
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
$103,899
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
4.72%
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%
$2,077,980
$2.1M
Cap Rate 7%
$1,484,271
$1.5M
Cap Rate 9%
$1,154,433
$1.2M
Market Conditions
NOI Build-Up for 9,728 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
$155.3K $15.96/SF
− Vacancy
−$6.8K −$0.70/SF
EGI
$148.4K $15.26/SF
− OpEx
−$44.5K −$4.58/SF
NOI
$103.9K $10.68/SF
Area
Howard County, IN
Vacancy
4.40%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$2,077,980
Cap Rate 7%
$1,484,271
Cap Rate 9%
$1,154,433
Alternative Uses
Best Use
Warehouse
$7.66M
$6.70M – $8.94M
NOI $536,256 @ 7.0% cap · market cap 24.38%
Second Best
Industrial
$6.31M
$5.52M – $7.36M
NOI $441,622 @ 7.0% cap · market cap 20.07%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
310
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 - Commercial property combines customer-facing showroom space with offices and warehouse functionality.
Where is this flex space located?
The property is located at 1816 S Dixon Rd Kokomo, IN.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 9,700 sq ft flex property with showroom, offices, work areas, and warehouse space; Two 12' overhead doors support equipment and delivery access; Five bathrooms included in the building layout
