Character-Filled Storefront
New
For Sale
$149,900
841 S Main St, Kokomo, IN 46902
Move-in-ready commercial storefront with two bathrooms, off-street parking, and direct access to the Industrial Heritage Trail.
Property Size865 SF
Price / SF$173.29
Days on Market4
Property Features for 841 S Main St
General Information
Standard status
Active
Size
865 SF
Amenities
two bathrooms
off-street parking
Industrial Heritage Trail
Building Details
Year Built
1958
Buildings
1
Listing Agency:
RE/MAX Realty One
(765) 438-7731
Listed By:
Charise Goodnight · License #RB14000521
Source:
Spencerchildersgroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 7:24AM
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 RE/MAX Realty One
Investment Insights
Based on property information with market context.
This storefront property dates to 1958 and is presented as move-in ready. The building includes two bathrooms, off-street parking, and access to additional street parking, providing practical features for an owner-user or commercial occupant.
The Industrial Heritage Trail runs directly behind the property, connecting the building with an established recreational route. Its storefront configuration and existing improvements support a range of small-business formats, including personal services, food and beverage, studio, and boutique retail uses as identified for the property.
The Industrial Heritage Trail runs directly behind the property, connecting the building with an established recreational route. Its storefront configuration and existing improvements support a range of small-business formats, including personal services, food and beverage, studio, and boutique retail uses as identified for the property.
Key Highlights
- Storefront property built in 1958
- Move‑in‑ready commercial building
- Two bathrooms
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
$9,239
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
6.16%
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%
$184,780
$184.8K
Cap Rate 7%
$131,986
$132.0K
Cap Rate 9%
$102,656
$102.7K
Market Conditions
NOI Build-Up for 865 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
$13.8K $15.96/SF
− Vacancy
−$607 −$0.70/SF
EGI
$13.2K $15.26/SF
− OpEx
−$4.0K −$4.58/SF
NOI
$9.2K $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%
$184,780
Cap Rate 7%
$131,986
Cap Rate 9%
$102,656
Alternative Uses
Best Use
Retail
$132.0K
$115.5K – $154.0K
NOI $9,239 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$681.2K
$596.0K – $794.7K
NOI $47,683 @ 7.0% cap · market cap 31.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 22%
Home Improvements & Furnishings 1%
Speedway
Shops & Services
10,798 visits/mo
0.1 miles
Dollar General
Shops & Services
9,658 visits/mo
0.2 miles
BP
Shops & Services
4,835 visits/mo
0.5 miles
Taco Bell
Dining
4,827 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,304 visits/mo
0.2 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Move-in-ready commercial storefront with two bathrooms, off-street parking, and direct access to the Industrial Heritage Trail.
Where is this storefront property located?
The property is located at 841 S Main St Kokomo, IN.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Storefront property built in 1958; Move‑in‑ready commercial building; Two bathrooms
