Building Details

Year Built 1895

Buildings 1

Listing Agency: The Hardie Group

Listed By: Melissa Rethlake Show Phone

Source: Callcriswell

Added: Jul 20 Changed: Oct 3 Last Checked: Oct 7 at 1:16PM

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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 The Hardie Group

Investment Insights

Based on property information with market context.

This mixed-use property at 204 N. Main Street combines a remodeled commercial workspace with a separate second-floor condominium. The main level is arranged with six private offices, a conference room, reception area, break room kitchen, two half bathrooms, one full bathroom, and partial basement storage. Modern finishes support a professional setting for business operations.

Remodeled in 2020, the approximately 1,200-square-foot condominium includes two bedrooms, two full bathrooms, an open living and kitchen area, and a private walk-out deck. The residential component provides on-site living space above the commercial area and supports a live/work configuration in downtown Kokomo.

Key Highlights

• Six private offices with conference room, reception area, kitchen, and three bathrooms
• Approximately 1,200 square feet of second‑floor residential space
• Two‑bedroom, two‑full‑bath condominium remodeled in 2020

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,677

Cap Rate

4.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$613,540 $613.5K

Cap Rate 7%

$438,243 $438.2K

Cap Rate 9%

$340,856 $340.9K

Market Conditions

NOI Build-Up for 2,964 SF

Gross rent

$53.4K $18.00/SF

− Vacancy

−$4.3K −$1.44/SF

EGI

$49.1K $16.56/SF

− OpEx

−$18.4K −$6.21/SF

NOI

$30.7K $10.35/SF

Area

Howard County, IN

Vacancy

8.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$613,540

Cap Rate 7%

$438,243

Cap Rate 9%

$340,856

Alternative Uses

Best Use

Mixed Use

$438.2K

$383.5K – $511.3K (±1% cap)

NOI $30,677 @ 7.0% cap · market cap 4.39%

Second Best

Office B

$434.4K

$380.1K – $506.9K (±1% cap)

NOI $30,411 @ 7.0% cap · market cap 4.35%

Theoretical Best

Warehouse

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $163,390 @ 7.0% cap · market cap 23.37%

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

Property Analytics

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Current Use

Baker Contracting Construction Company BC Investment Properties, ... Property Management Company

Suggested Use

Top Pick Real Estate Agency Dental Office Skin Care Clinic Parking Lot & Garage Pharmacy Storage Facility

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

1

Office units

Location Intelligence

Trade Area within ½ mile

811

Businesses Nearby

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties 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?

Mixed-use property - Combines professional workspace with a two-bedroom condominium and private outdoor space.

Where is this mixed-use property located?

The property is located at 204 N Main St Kokomo, IN.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: Six private offices with conference room, reception area, kitchen, and three bathrooms; Approximately 1,200 square feet of second‑floor residential space; Two‑bedroom, two‑full‑bath condominium remodeled in 2020