Restaurant Building Near Markland
For Sale
$425,000
909 Belvedere Dr, Kokomo, IN 46901
Restaurant building for sale with parking and new metal roof.
Property Size4,627 SF
Price / SF$91.85
Days on Market203
Property Features for 909 Belvedere Dr
General Information
Standard status
Active
Size
4,627 SF
Building Details
Year Built
1970
Listing Agency:
Fortune Companies, Inc
Listed By:
DJ Butcher · License #RB20000053
(765) 457-1700
Source:
Kmsrealestategroup
Added: Mar 26
Changed: Oct 9
Last Checked: Oct 7 at 2:58PM
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 Fortune Companies, Inc
Investment Insights
Based on property information with market context.
A restaurant building is available for sale. The property encompasses approximately 4,627 square feet. It benefits from its proximity to Markland Mall, Wal-Mart, Meijer, Raising Cane's, Popeye's, McDonalds, Sonic, and Chipotle. The building features a freshly painted exterior, a dedicated parking lot, and a new metal roof.
Key Highlights
- High‑traffic location near Markland Mall, Wal‑Mart, Meijer, and multiple fast‑food chains.
- Substantial building size: Approximately 4,627 sq. ft.
- Dedicated parking lot.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,609
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,180
$392.2K
Cap Rate 7%
$280,129
$280.1K
Cap Rate 9%
$217,878
$217.9K
Market Conditions
NOI Build-Up for 4,627 SF
Gross rent
$27.2K $5.88/SF
− Vacancy
−$1.1K −$0.23/SF
EGI
$26.1K $5.65/SF
− OpEx
−$6.5K −$1.41/SF
NOI
$19.6K $4.24/SF
Area
Howard County, IN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,180
Cap Rate 7%
$280,129
Cap Rate 9%
$217,878
Alternative Uses
Best Use
Specialty Retail
$280.1K
$245.1K – $326.8K
NOI $19,609 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.64M
$3.19M – $4.25M
NOI $255,063 @ 7.0% cap · market cap 60.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
664k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 30%
Shops & Services 26%
Dining 22%
Groceries 13%
Walmart
Superstores
113,460 visits/mo
0.1 miles
Meijer
Groceries
85,793 visits/mo
0.4 miles
Sam's Club
Superstores
84,359 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
43,522 visits/mo
0.3 miles
Dunham's Sports
Apparel
30,336 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant building for sale with parking and new metal roof.
Where is this restaurant located?
The property is located at 909 Belvedere Dr Kokomo, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: High‑traffic location near Markland Mall, Wal‑Mart, Meijer, and multiple fast‑food chains.; Substantial building size: Approximately 4,627 sq. ft.; Dedicated parking lot.
