Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Kokomo Commercial Property Title is generated by Realmo AI

    618 South Main Street, Kokomo, IN 46901

    View on Map
    Claim this Listing
    For Sale
    $599,900

    Versatile commercial building in downtown Kokomo with parking.

    Type:Commercial / Mixed Use
    Property size:
    36,547 SF
    Price / SF:
    $16/SF
    Added:
    Apr 8, 2026
    Days on Market:
    55
    Last Refresh:
    Apr 9 at 8:14 pm

    Property Features for 618 South Main Street

    General Information

    Standard status
    Active
    Size
    36,547 SF
    Property subtype
    Commercial / Mixed Use

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    Tracy Martino

    Listing agent Tracy Martino License #RB25001893

    Listing office Martino Realty & Auctioneers - Kokomo

    Listing date Apr 8, 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 Martino Realty & Auctioneers - Kokomo

    HighLights

    • Prime downtown Kokomo location.
    • Over 15,000 sq ft of versatile commercial space.
    • Abundant private parking.
    • Finished basement with additional offices and full kitchen/lunchroom.
    • Multiple conference rooms (large and small).
    • Eight restrooms throughout the building.

    Overview

    This commercial property, located in downtown Kokomo, Indiana, offers over 15,000 square feet of space suitable for professional, medical, or corporate uses. The building includes abundant private parking. The interior features extensive office space, large and small conference rooms, and eight restrooms. A fully finished basement provides additional offices. A full kitchen with a lunchroom area is also included. The property is located a few blocks from a new hotel and conference center. The property is being sold As Is, and inspections are welcome.
    Location Intelligence

    Current Use by Public Records

    Healthy Families Program Social Service Agency Rosemary E. Richard, ... Marriage Or Relationship Counselor Minority Health Alliance ... Charitable Organization Turning Point SOC Counselor Project Access Association / Organization

    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
    -86.13091
    Latitude
    40.49155

    Nearby Similar for Sale

    • $950,000

      Kokomo Retail Investment Opportunity

      Multi-tenant retail property in Kokomo, built in 2015.
      1805 E Hoffer Street, Kokomo, IN 46902
      View Details
    • $149,900

      Move-in Ready Mixed-Use Building

      Versatile commercial space suitable for various business types.
      841 S MAIN Street, Kokomo, IN 46902
      View Details
    • $215,000

      Kokomo Office Building For Sale

      Well-maintained office building with open floorplan and expansion potential.
      2020 E Boulevard Street, Kokomo, IN 46902
      View Details
    • $550,000
      4,095 SF

      Established Car Wash with Billboard

      Single-story car wash with detailing addition and advertising income.
      3550 South Lafountain Street, Kokomo, IN, 46902
      View Details
    • $275,000

      Commercial Building with Ample Parking

      Retail building with access to 931 on 0.68 acres.
      145 CREEKSIDE Drive, Kokomo, IN 46901
      View Details
    • $839,900

      Kokomo Showroom, Office, Storage Property

      Showroom, office space, and storage units on 10 acres.
      394 S 00 EW Road, Kokomo, IN 46902
      View Details
    • $19
      3,046 SF

      Kokomo Retail or Office Space

      3,046 SF retail or office space in Kokomo, Indiana.
      1400 E Hoffer St, Kokomo, IN 46902
      View Details
    • $1,360,000

      Kokomo Retail Investment Opportunity

      Two-tenant building on high-traffic Southway Blvd. with strong income.
      508 E Southway Boulevard, Kokomo, IN 46902
      View Details
    • $128,277

      Kokomo Restaurant/Bar Opportunity For Sale

      Restaurant/bar with general business zoning near new battery plant.
      2222 N Plate Street, Kokomo, IN 46901-1640
      View Details
    • $375,000
      768 SF

      Kokomo Auto Sales/Service Location

      Auto sales and service location with office and billboard.
      2019 N Washington Street, Kokomo, IN 46901
      View Details
    • $2,708,904
      1,400 SF

      Kokomo Restaurant with NNN Lease

      Restaurant with absolute NNN lease and zero landlord responsibilities.
      125 N Dixon Rd, Kokomo, IN
      View Details
    • $1,905,753
      1,400 SF

      Kokomo NNN Leased Retail Property

      NNN leased retail property in Kokomo, Indiana for sale.
      2085 N Reed Rd, Kokomo, IN
      View Details

    FAQs

    What type of property is this?
    Office building - Versatile commercial building in downtown Kokomo with parking.
    Where is this office building located?
    The property is located at 618 South Main Street 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: Prime downtown Kokomo location.; Over 15,000 sq ft of versatile commercial space.; Abundant private parking.
    (574) 240-1085
    We can help!
    Listing Contact
    Tracy Martino
    Real Estate License ID: RB25001893
    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
    618 South Main Street, Kokomo, IN 46901
    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!