Two-Suite Office
New
For Sale
$234,900
2100 S Washington St, Kokomo, IN 46902
Corner-positioned property with private suite entrances, an existing salon tenant, and an additional billboard lease.
Property Size1,560 SF
Price / SF$150.58
Days on Market5
Property Features for 2100 S Washington St
General Information
Standard status
Active
Size
1,560 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
1928
Buildings
1
Building Size
1,560 SF
Tenancy
Multi
Listing Agency:
The Wyman Group
(765) 854-1234
Listed By:
Paul Wyman · License #RB14023441
Source:
Callcriswell
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:29AM
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.
Built in 1928, this 1,560-square-foot commercial building is divided into two suites, each with its own entrance. One suite is vacant and configured for professional office use, while the second is occupied by a hair salon under a month-to-month tenancy. The layout supports separate occupancy within a compact commercial asset.
The property occupies the corner at 2100 S Washington St in Kokomo, Indiana, providing exposure to passing traffic. Revenue sources include the existing salon tenancy and an on-site billboard lease, while the vacant suite offers additional occupancy flexibility for an owner-user or separate office tenant.
The property occupies the corner at 2100 S Washington St in Kokomo, Indiana, providing exposure to passing traffic. Revenue sources include the existing salon tenancy and an on-site billboard lease, while the vacant suite offers additional occupancy flexibility for an owner-user or separate office tenant.
Key Highlights
- 1,560‑square‑foot commercial building constructed in 1928
- Two separate suites with private entrances
- Vacant suite configured for professional office use
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
$16,661
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
7.09%
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%
$333,220
$333.2K
Cap Rate 7%
$238,014
$238.0K
Cap Rate 9%
$185,122
$185.1K
Market Conditions
NOI Build-Up for 1,560 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
$24.9K $15.96/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$23.8K $15.26/SF
− OpEx
−$7.1K −$4.58/SF
NOI
$16.7K $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%
$333,220
Cap Rate 7%
$238,014
Cap Rate 9%
$185,122
Alternative Uses
Best Use
Retail
$238.0K
$208.3K – $277.7K
NOI $16,661 @ 7.0% cap · market cap 7.09%
Second Best
Office B
$228.7K
$200.1K – $266.8K
NOI $16,006 @ 7.0% cap · market cap 6.81%
Theoretical Best
Warehouse
$1.23M
$1.07M – $1.43M
NOI $85,995 @ 7.0% cap · market cap 36.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner-positioned property with private suite entrances, an existing salon tenant, and an additional billboard lease.
Where is this office units located?
The property is located at 2100 S Washington St Kokomo, IN.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,560‑square‑foot commercial building constructed in 1928; Two separate suites with private entrances; Vacant suite configured for professional office use
