Building Details

Year Built 2012

Building Size 9,700 SF

Listing Agency: The Wyman Group

Listed By: Paul Wyman · License #RB14023441 Show Phone

Source: Spencerchildersgroup

Added: Jul 20 Changed: Oct 9 Last Checked: Oct 7 at 5:44PM

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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.

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 / Yr

$103,899

Cap Rate

4.72%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $536,256 @ 7.0% cap · market cap 24.38%

Second Best

Industrial

$6.31M

$5.52M – $7.36M (±1% cap)

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. How Realmo checks its estimates

Property Analytics

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Current Use

Gooch & Company Paint ... Carpet & Flooring Store

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Law Firm Auto Repair Shop

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

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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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 - 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