Freestanding Bank
For Sale
$599,900
3545 S Lafountain, Kokomo, IN 46902
Former bank facility with on-site parking and flexible commercial use potential in southwest Kokomo.
Property Size2,140 SF
Price / SF$280.33
Days on Market45
Property Features for 3545 S Lafountain
General Information
Standard status
Active
Size
2,140 SF
Building Details
Year Built
1987
Buildings
1
Listing Agency:
The Wyman Group
(765) 854-1234
Listed By:
Paul Wyman · License #RB14023441
Source:
Callcriswell
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 25 at 4:14AM
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.
This freestanding commercial building was previously operated as a bank and contains approximately 2,100 square feet. The property includes on-site parking and may accommodate financial services, professional office, medical, or retail operations based on the stated prior use and positioning.
Built in 1987, the building is located at 3545 S Lafountain in Kokomo, Indiana. Its southwest-side setting provides a visible commercial presence within the local market.
Built in 1987, the building is located at 3545 S Lafountain in Kokomo, Indiana. Its southwest-side setting provides a visible commercial presence within the local market.
Key Highlights
- Previously operated as a bank
- Approximately 2,100 square feet of building area
- On‑site parking included
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
$22,856
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
3.81%
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%
$457,120
$457.1K
Cap Rate 7%
$326,514
$326.5K
Cap Rate 9%
$253,956
$254.0K
Market Conditions
NOI Build-Up for 2,140 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
$34.2K $15.96/SF
− Vacancy
−$1.5K −$0.70/SF
EGI
$32.7K $15.26/SF
− OpEx
−$9.8K −$4.58/SF
NOI
$22.9K $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%
$457,120
Cap Rate 7%
$326,514
Cap Rate 9%
$253,956
Alternative Uses
Best Use
Retail
$326.5K
$285.7K – $380.9K
NOI $22,856 @ 7.0% cap · market cap 3.81%
Second Best
Office B
$313.7K
$274.5K – $365.9K
NOI $21,956 @ 7.0% cap · market cap 3.66%
Theoretical Best
Warehouse
$1.69M
$1.47M – $1.97M
NOI $117,967 @ 7.0% cap · market cap 19.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
990
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Former bank facility with on-site parking and flexible commercial use potential in southwest Kokomo.
Where is this bank located?
The property is located at 3545 S Lafountain Kokomo, IN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Previously operated as a bank; Approximately 2,100 square feet of building area; On‑site parking included
