Building Details

Buildings 1

Tenancy Single

Listing Agency: Cushman & Wakefield | Indianapolis Show Phone

Listed By: William French Show Phone

Source: Moodyscre

Added: Oct 15 Changed: Oct 24 Last Checked: Oct 24 at 2:48PM

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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 Cushman & Wakefield | Indianapolis

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 25,000-square-foot retail building is configured for a single tenant and sits on a 2.14-acre site. The property is at 2011 E Markland Ave in Kokomo, Indiana, within a shopping center anchored by Meijer and Sam’s Club.

The site meets Markland Avenue at a signalized intersection, providing direct access from the roadway.

Key Highlights

• 25,000‑square‑foot building occupied by a single tenant
• 2.14‑acre site
• Located in a shopping center anchored by Meijer and Sam’s Club

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$267,011

Cap Rate

8.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,340,220 $5.3M

Cap Rate 7%

$3,814,443 $3.8M

Cap Rate 9%

$2,966,789 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 25,000 SF

Gross rent

$399.0K $15.96/SF

− Vacancy

−$17.6K −$0.70/SF

EGI

$381.4K $15.26/SF

− OpEx

−$114.4K −$4.58/SF

NOI

$267.0K $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%

$5,340,220

Cap Rate 7%

$3,814,443

Cap Rate 9%

$2,966,789

Alternative Uses

Best Use

Retail

$3.81M

$3.34M – $4.45M (±1% cap)

NOI $267,011 @ 7.0% cap · market cap 8.90%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$19.69M

$17.23M – $22.97M (±1% cap)

NOI $1,378,125 @ 7.0% cap · market cap 45.94%

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

Retail space

Suggested Use

Top Pick Law Firm Building Supply Storage Facility Garden Center Kitchen & Bath Showroom HVAC Service

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

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

555

Businesses Nearby

788k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 25% Dining 25% Shops & Services 20% Groceries 13%

Walmart Superstores

113,460 visits/mo 0.3 miles

Meijer Groceries

85,793 visits/mo 0.3 miles

Sam's Club Superstores

84,359 visits/mo 0.1 miles

Hobby Lobby Shops & Services

43,522 visits/mo 0.1 miles

Ross Dress for Less Apparel

34,037 visits/mo 0.4 miles

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - The property occupies a signalized corner in a shopping center anchored by Meijer and Sam’s Club.

Where is this retail space located?

The property is located at 2011 E Markland Ave Kokomo, IN.

What is the asking price?

The asking price for this property is $3,000,000.

What are key features of this property?

This property features: 25,000‑square‑foot building occupied by a single tenant; 2.14‑acre site; Located in a shopping center anchored by Meijer and Sam’s Club