Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Retail Space Available Title is generated by Realmo AI

    401 E Morgan St, Kokomo, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    10,233 SF freestanding retail space in Kokomo, Indiana.

    Type:RETAIL
    Property size:
    10,233 SF
    Lot size:
    1.36 Acres
    Added:
    Sep 1, 2025
    Days on Market:
    263
    Last Refresh:
    Apr 5 at 9:30 pm

    Property Features for 401 E Morgan St

    General Information

    Standard status
    Active
    Size
    10,233 SF
    Lot size
    1.36 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 401 E Morgan St Contact us

    We can help!

    Listing Contact
    Daniel Santana
    Daniel Santana

    Listing agent Daniel Santana

    Listing office Allies Commercial Realty

    Listing date Sep 1, 2025

    Source Moodyscre

    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 Allies Commercial Realty

    HighLights

    • High‑visibility location at a signalized intersection (Morgan St & Apperson Way)
    • Existing drive‑thru infrastructure
    • 10,233 SF of freestanding retail space
    • Ample dedicated parking
    • Commercial zoning
    • Located in Kokomo’s thriving retail district with strong traffic patterns

    Overview

    This 10,233 SF freestanding retail space is available for lease. The property is located at the signalized intersection of Morgan St & Apperson Way in Kokomo, Howard County. The corner property offers high visibility and easy access in a busy commercial corridor. The building features existing drive-thru infrastructure, making it suitable for quick-service restaurants, banks, or convenience retailers. The property has commercial zoning, ample dedicated parking, and a standalone configuration. It is located in Kokomo’s thriving retail district with strong traffic patterns.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CVS Pharmacy Coinhub Bitcoin ATM ... Atm MoneyGram Bank

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1275
    Latitude
    40.505

    Nearby Similar for Lease

    • $3,950/Mo
      3,000 SF

      Professional Office Space Available

      Well-maintained office building suitable for medical or professional use.
      3804 Southland Ave, Kokomo, IN, 46902-3637
      View Details
    • $2,500/Mo
      6,300 SF

      Downtown Turn Key Office Space

      Turn key office space in an excellent downtown location.
      341 N Main St, Kokomo, IN, 46901-4621
      View Details
    • Contact for pricing
      2,375 SF

      Kokomo Town Center Retail Space

      Retail space available in a redeveloped shopping center.
      1700 E Blvd, Kokomo, IN
      View Details
    • Contact for pricing
      2,000 SF

      Kokomo Retail Space Sublease

      Retail space in Kokomo's prime trade area for sublease.
      1403-1439 S Reed Rd, Kokomo, IN
      View Details
    • Contact for pricing
      540 SF

      Kokomo Retail Hub Space Available

      Retail space available in Kokomo's leading shopping destination.
      1035 S Reed Rd, Kokomo, IN
      View Details
    • Contact for pricing
      7,350 SF

      Retail Space with Ample Parking

      7,350 SF retail space near downtown with high ceilings.
      1401 N Washington St, Kokomo, IN 46901
      View Details
    • Contact for pricing
      1,650 SF

      Retail Space in Markland Plaza

      Retail space available in a busy Kokomo shopping center.
      1114 S 17th St, Kokomo, IN
      View Details
    • Contact for pricing
      8,259 SF

      Kokomo Restaurant Asset For Sale

      Value-add restaurant asset in Kokomo's primary retail corridor.
      2909 S Reed Rd, Kokomo, IN
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on IN-931

      Retail space with high visibility and strong tenant mix.
      2100 E Blvd St, Kokomo, IN
      View Details
    • $350/Mo
      1,942 SF

      Kokomo Office Space Available

      Versatile office suites for rent near national retailers.
      1940 South Elizabeth Street, Kokomo, IN
      View Details
    • Contact for pricing
      3,095 SF

      Medical Office Space For Rent

      Professionally managed medical office park with convenient parking.
      2312 S Dixon Rd, Kokomo, IN
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity with high visibility and customer traffic.
      2301 E Markland Ave, Kokomo, IN 46901
      View Details

    FAQs

    What type of property is this?
    Retail space - 10,233 SF freestanding retail space in Kokomo, Indiana.
    Where is this retail space located?
    The property is located at 401 E Morgan St Kokomo, IN.
    What are key features of this property?
    This property features: High‑visibility location at a signalized intersection (Morgan St & Apperson Way); Existing drive‑thru infrastructure; 10,233 SF of freestanding retail space
    (317) 908-6479 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Daniel Santana
    Daniel Santana
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    401 E Morgan St, Kokomo, IN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!