Industrial Flex Property with Expansion
1940 South Elizabeth St Kokomo, Kokomo, IN 46902
For Sale
$1,275,000
Nearly 12,000 SF available in Kokomo for an owner-user or investor near a major manufacturing plant.
Property Size46,576 SF
Price / SF$106.25
Days on Market139
Property Features for 1940 South Elizabeth St Kokomo
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listed By:
Dan Lariccia
(440) 669-1109
Source:
Passovgroup
Added: Jun 25
Changed: Oct 26
Last Checked: Nov 10 at 6:32AM
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 Dan Lariccia
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Investment Insights
Based on property information with market context.
This industrial flex property presents an investment and owner-user mix, with existing tenancy that includes largest tenants recently executing long-term extensions. The current structure also includes built-in rental increases, supporting ongoing rent growth over time. In addition, nearly 12,000 SF is available, which can be used for additional income or for an owner-user seeking space within the same facility.
The property is located across the street from the 3,100,000 square foot Chrysler Transmission Plant. That proximity places the asset within an active industrial employment environment.
For tenants and owner-users, the availability of nearly 12,000 SF creates a straightforward path to occupy additional space while maintaining income from the remainder of the property. For investors, the combination of extended lease commitments from the largest tenants and built-in rental increases can be an important factor when evaluating durability of cash flow. The property’s flex orientation can support a range of industrial uses, while the near-term availability provides flexibility for whichever strategy is preferred.
The property is located across the street from the 3,100,000 square foot Chrysler Transmission Plant. That proximity places the asset within an active industrial employment environment.
For tenants and owner-users, the availability of nearly 12,000 SF creates a straightforward path to occupy additional space while maintaining income from the remainder of the property. For investors, the combination of extended lease commitments from the largest tenants and built-in rental increases can be an important factor when evaluating durability of cash flow. The property’s flex orientation can support a range of industrial uses, while the near-term availability provides flexibility for whichever strategy is preferred.
Key Highlights
- Nearly 12,000 SF available in Kokomo for an owner‑user or investor
- Property is across the street from the 3,100,000 SF Chrysler Transmission Plant
- Largest tenants recently executed long‑term extensions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,805
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,100
$716.1K
Cap Rate 7%
$511,500
$511.5K
Cap Rate 9%
$397,833
$397.8K
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$59.0K $4.92/SF
− Vacancy
−$4.0K −$0.33/SF
EGI
$55.1K $4.59/SF
− OpEx
−$19.3K −$1.61/SF
NOI
$35.8K $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%
$716,100
Cap Rate 7%
$511,500
Cap Rate 9%
$397,833
Alternative Uses
Best Use
Flex RnD
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,923 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Nearly 12,000 SF available in Kokomo for an owner-user or investor near a major manufacturing plant.
Where is this flex space located?
The property is located at 1940 South Elizabeth St Kokomo Kokomo, IN.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Nearly 12,000 SF available in Kokomo for an owner‑user or investor; Property is across the street from the 3,100,000 SF Chrysler Transmission Plant; Largest tenants recently executed long‑term extensions
