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    Barbershop Storefront with Expansion Land Title is generated by Realmo AI

    310 West Morgan Street, Kokomo, IN 46901

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    For Sale
    $57,000

    Small storefront currently operating as a barbershop, with additional land behind the building and concrete pads for flexible outdoor use.

    Type:Commercial / Mixed Use
    Property size:
    8,712 SF
    Price / SF:
    $6/SF
    Added:
    May 23, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 6 at 4:08 am

    Property Features for 310 West Morgan Street

    General Information

    Standard status
    Active
    Size
    8,712 SF
    Property subtype
    Commercial / Mixed Use

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Amy True
    Amy True

    Listing agent Amy True License #RB14037888

    Listing office True Realty

    Listing date May 23, 2026

    Source Compass

    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 True Realty

    HighLights

    • Approximately 336 SF commercial storefront currently operating as a barbershop
    • 1‑story building with vinyl tile flooring and electric heating
    • Roof: asphalt shingle; year built 1985
    • Additional land behind the building for expansion or outdoor use
    • Existing concrete pads for storage sheds, additional seating, or an outdoor dining setup
    • Platted property with existing small‑business layout for repurposing to other retail or food concepts

    Overview

    This property is a small storefront currently operating as a barbershop, offering an easy setup for a variety of neighborhood-oriented concepts. The space is approximately 336 square feet. In addition to the building, there is additional land behind the structure that can support expansion ideas or outdoor use. Existing concrete pads provide a practical base for storage sheds, additional seating, or an outdoor dining-style setup.

    The property is marketed as a high-visibility site with traffic count and exposure, positioned to serve passersby and nearby customers. The combination of a compact retail building and behind-the-building land creates flexibility for owners who want room to manage overflow, temporary improvements, or light outdoor activation within the same parcel.

    For tenants, operators, or buyers looking for a small footprint with on-site outdoor flexibility, the current barbershop use provides an immediate, functional retail framework. The included concrete pads and extra land behind the building can also accommodate ideas such as a carryout-focused business, a small refreshment or snack concept, or another storefront use that benefits from visibility and customer convenience. The size may suit a single-operator model where efficient space planning matters.
    Location Intelligence

    Current Use by Public Records

    Gene's BarberShop Barber Shop

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.134186
    Latitude
    40.505634

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    FAQs

    What type of property is this?
    Storefront property - Small storefront currently operating as a barbershop, with additional land behind the building and concrete pads for flexible outdoor use.
    Where is this storefront property located?
    The property is located at 310 West Morgan Street Kokomo, IN.
    What is the asking price?
    The asking price for this property is $57,000.
    What are key features of this property?
    This property features: Approximately 336 SF commercial storefront currently operating as a barbershop; 1‑story building with vinyl tile flooring and electric heating; Roof: asphalt shingle; year built 1985
    (765) 438-6386
    We can help!
    Listing Contact
    Amy True
    Amy True
    Real Estate License ID: RB14037888
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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