Heated Warehouse with
604 Albany Dr Kokomo, IN 46902
604 Albany Dr, Kokomo, IN, 46902
$599,900
For Sale
$599,900
Heated warehouse space with multiple overhead doors and a dedicated office component, supported by two 400 amp electrical services.
Property Size13,750 SF
Price / SF$43.63
Days on Market106
Property Features for 604 Albany Dr
General Information
- Standard status
- Active
- Size
- 13,750 SF
Listing agency
The Wyman Group
(765) 419-1021
Listed by
Paul Wyman · License #RB14023441
(765) 419-1021
Source
Exprealty
Added: Apr 8 Updated: Jul 22 at 2:45AM Checked: Jul 22 at 2:45AM
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 property offers a spacious, flexible layout combining heated warehouse/industrial space with dedicated office space. The building includes multiple overhead doors for convenient loading, including two 12’ x 12’ doors and one 10’ tall door. With two 400 amp electrical services, the facility is equipped to support heavier equipment and business operations.
Located on Kokomo’s South side at 604 Albany Dr, the property is currently vacant and ready for immediate occupancy.
The office area is separated from the warehouse component, providing a practical arrangement for day-to-day administration alongside operational space. The heated warehouse environment supports year-round functionality for a range of commercial and industrial needs.
Located on Kokomo’s South side at 604 Albany Dr, the property is currently vacant and ready for immediate occupancy.
The office area is separated from the warehouse component, providing a practical arrangement for day-to-day administration alongside operational space. The heated warehouse environment supports year-round functionality for a range of commercial and industrial needs.
Key Highlights
- Total 13,750 sq ft with 2,475 sq ft of office space and 11,275 sq ft of warehouse/industrial space
- Heated warehouse for year‑round functionality
- Multiple overhead doors including two 12’ x 12’ doors and one 10’ tall door
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.7k | $4.92 |
| − Vacancy | −$4.5k | −$0.33 |
| EGI | $63.1k | $4.59 |
| − OpEx | −$22.1k | −$1.61 |
| NOI | $41.0k | $2.98 |
13,750 SF · lease $4.92/SF/yr · vacancy 6.70% · expense 35.00%
Alternative Uses
Best Use
Warehouse
$10.83M
$9.47M – $12.63M
NOI $757,969 @ 7.0% cap · market cap 126.35%
Second Best
Industrial
$8.92M
$7.80M – $10.40M
NOI $624,209 @ 7.0% cap · market cap 104.05%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
GTS
Laboratory
Similar For Sale Nearby
Similar Off Market Nearby
- Rozzi's Catering — 527 W Alto Rd, Kokomo, IN 46902
FAQs
What type of property is this?
Flex space - Heated warehouse space with multiple overhead doors and a dedicated office component, supported by two 400 amp electrical services.
Where is this flex space located?
The property is located at 604 Albany Dr 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: Total 13,750 sq ft with 2,475 sq ft of office space and 11,275 sq ft of warehouse/industrial space; Heated warehouse for year‑round functionality; Multiple overhead doors including two 12’ x 12’ doors and one 10’ tall door
