Single-Story Medical
For Sale
Contact for pricing
808 South Berkley Road, Kokomo, IN 46901
Single-story medical office previously occupied by a healthcare provider, suited for chiropractic, wellness, or professional services.
Property Size3,000 SF
Price / SF$83.33
Days on Market124
Property Features for 808 South Berkley Road
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Office
Building Details
Year Built
1978
Buildings
1
Stories
1
Listing Agency:
NAI Global
Listed By:
Anna Konrath · License #RB23000150
Source:
Crexi
Added: May 8
Changed: Aug 14
Last Checked: Sep 8 at 3:42AM
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 NAI Global
Investment Insights
Based on property information with market context.
This single-story chiropractic/medical office was previously occupied by a healthcare provider and is positioned for medical, wellness, or professional services. The layout is designed for convenient access and client flow, supporting a range of healthcare-adjacent uses.
Located in Howard County along S. Berkley Road, the property is described as serving a population of more than 84,000 residents, including approximately 60,000 within the city of Kokomo. The corridor location is intended to provide easy connectivity to nearby neighborhoods, retail corridors, and essential local services.
For owner-users and investors, the property’s established healthcare use and straightforward, single-story configuration offer a flexible platform for appropriate services within the listed use range.
Located in Howard County along S. Berkley Road, the property is described as serving a population of more than 84,000 residents, including approximately 60,000 within the city of Kokomo. The corridor location is intended to provide easy connectivity to nearby neighborhoods, retail corridors, and essential local services.
For owner-users and investors, the property’s established healthcare use and straightforward, single-story configuration offer a flexible platform for appropriate services within the listed use range.
Key Highlights
- Single‑story medical office previously occupied by a healthcare provider
- Year built: 1978
- Suitable for medical, wellness, or professional services such as chiropractic, physical therapy, counseling, dental, or insurance offices
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
$9,811
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
3.92%
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%
$196,220
$196.2K
Cap Rate 7%
$140,157
$140.2K
Cap Rate 9%
$109,011
$109.0K
Market Conditions
NOI Build-Up for 3,000 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
$17.6K $5.88/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$16.4K $5.45/SF
− OpEx
−$6.5K −$2.18/SF
NOI
$9.8K $3.27/SF
Area
Howard County, IN
Vacancy
7.30%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
40.00%
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%
$196,220
Cap Rate 7%
$140,157
Cap Rate 9%
$109,011
Alternative Uses
Best Use
Office B
$439.7K
$384.8K – $513.0K
NOI $30,780 @ 7.0% cap · market cap 12.31%
Second Best
Healthcare Medical
$140.2K
$122.6K – $163.5K
NOI $9,811 @ 7.0% cap · market cap 3.92%
Theoretical Best
Warehouse
$2.36M
$2.07M – $2.76M
NOI $165,375 @ 7.0% cap · market cap 66.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 46901, IN
38,072
Population
18,307
Households
2.1
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
140.9 sq mi
ZIP Area
270
Density / Sq Mi
$61,041
Median Household Income
$37,107
Median Earnings
$869
Median Rent
$131,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Single-story medical office previously occupied by a healthcare provider, suited for chiropractic, wellness, or professional services.
Where is this medical center located?
The property is located at 808 South Berkley Road Kokomo, IN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Single‑story medical office previously occupied by a healthcare provider; Year built: 1978; Suitable for medical, wellness, or professional services such as chiropractic, physical therapy, counseling, dental, or insurance offices
