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    2981 Webster St Kokomo, IN 46902

    Sponsored
    For Sale
    $1,450,000

    High-yield office complex, 8,064 SF, 5.5% cap rate.

    Property size:
    8,064 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a well-maintained, single-story, 8,064 square foot office building situated on a 0.93-acre lot in Kokomo, Indiana. Built in 2004, the Class B property boasts four units and is currently owner-occupied, featuring credit tenants. The building is zoned for business use and offers ample private parking. The asking price is $1,450,000, representing a compelling price per square foot of $179.81 and a strong 5.50% capitalization rate, with a Net Operating Income (NOI) of $79,800. The property is conveniently located on 2981 S. Webster St., near the main post office, restaurants, a hospital, and retail establishments. With 8,064 square feet of air rights, this property presents significant potential for future expansion or redevelopment. This is an ideal owner-user opportunity with the added benefit of existing rental income. The property's strong location and financial performance make it a highly attractive investment.

    Property Features for 2981 Webster St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    8,064 SF
    Class
    B
    Lot Size
    40,511 SF

    Building Details

    Year Built
    2004
    Buildings
    1
    Stories
    1
    Units
    4

    HighLights

    • $1,450,000 asking price for this 8,064 SF office building.
    • Located at 2981 S Webster St, Kokomo, IN 46902.
    • Class B, single‑story building built in 2004, with 4 units.
    • 5.50% cap rate, generating $79,800 NOI.
    • $179.81 price per square foot.
    • 0.93‑acre lot with 8,064 sq ft of air rights.
    Property Profile Location Intelligence

    Current Use by Public Records

    Brian Cossell - State ... Insurance Agency Argus Complex Construction Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1370576
    Latitude
    40.4522913

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    FAQs

    What type of property is this?
    Office Property / Space - High-yield office complex, 8,064 SF, 5.5% cap rate.
    Where is this office property / space located?
    The property is located at 2981 Webster St Kokomo, IN.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: $1,450,000 asking price for this 8,064 SF office building.; Located at 2981 S Webster St, Kokomo, IN 46902.; Class B, single-story building built in 2004, with 4 units.
    (765) 438-0649
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    Realmo Value Estimation

    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.

    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.

    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
    2981 Webster St Kokomo, IN 46902
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