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    Retail Office Building with Billboard Sign Title is generated by Realmo AI

    3210 S LAFOUNTAIN Street, Kokomo, IN 46902

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    Picture of Office Units at 3210 S LAFOUNTAIN Street, Kokomo, IN
    For Sale
    $249,900

    Other/Unknown - Kokomo, IN

    Lot size:
    0.17 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 3210 S LAFOUNTAIN Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Interior features
    Drywall, Handicap Access, Display Window(s), Office Space, Ventilating/Exhaust Fans
    Exterior features
    Handicap Access, Display Window(s), Office Space, Ventilating/Exhaust Fans
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    34-10-07-352-003.000-002
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1827

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1955
    Floors in Building
    1
    Flooring type
    Laminate
    Building materials
    Stucco
    Roof type
    Rubber, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Carney

    Listing agent Lisa Carney License #RB14052095

    Listing office RE/MAX Realty One 1801 S Elizabeth St, Kokomo, IN

    Listing date Jun 5, 2026

    MLS# 202621829 Listing URL

    Copyright © 2026 REALTORS Association of Central Indiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Commercial property with 2 separate units, offering additional rental income
    • Stucco building built in 1955 with central air and natural gas heat
    • Large lighted billboard‑style sign for visibility
    • Updates: new exterior door and window on 2nd unit, plus interior paint and exterior awnings in 2025
    • Tankless water heater; flooring updates completed in 2018
    • Accessible features include an accessible approach with ramp and handicap access

    Overview

    This high-visibility stucco building is configured as two separate units, offering flexibility for an operator who wants additional rental income alongside their own space. The property includes ample parking and interior character elements such as rustic barn wood beams. Improvements noted include new exterior door and window on the second unit, along with interior paint and exterior awnings completed in 2025. Additional building systems and updates include HVAC, a tankless water heater, and flooring installed in 2018.

    Located at 3210 S LaFountain Street in Kokomo, Indiana, the property benefits from a storefront-style setup with off-street parking to support everyday customer or tenant access. The large lighted billboard-style sign is included on-site, designed to draw attention from passersby.

    The two-unit layout can fit a range of service and office users, including a salon or an office tenant looking for space that can also be paired with an additional rentable unit. With updates across 2025 and earlier renovations to key components, the building presents as a practical option for buyers seeking a manageable, multi-tenant configuration in a visible retail/office environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Standards Boutique Clothing Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.126702
    Latitude
    40.449182

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    FAQs

    What type of property is this?
    Office units - Two-unit stucco building with ample parking and a large lighted billboard-style sign for strong storefront exposure.
    Where is this office units located?
    The property is located at 3210 S LAFOUNTAIN Street Kokomo, IN.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Commercial property with 2 separate units, offering additional rental income; Stucco building built in 1955 with central air and natural gas heat; Large lighted billboard‑style sign for visibility
    (765) 454-7300
    We can help!
    Listing Contact
    Lisa Carney
    Real Estate License ID: RB14052095
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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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    3210 S LAFOUNTAIN Street, Kokomo, IN 46902
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