Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    909 Belvedere Dr Kokomo, IN 46901

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Kokomo Restaurant, Vacant, 4,927 SF

    Property size:
    4,927 SF

    Property Features for 909 Belvedere Dr

    General Information

    Property type
    Restaurants
    Square Feet
    4,927 SF
    Lot Size
    15,682 SF

    Building Details

    Year Built
    1970
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Dj Butcher
    Dj Butcher

    Listing Agency: Fortune Companies Inc Listing Agent: Dj Butcher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This vacant restaurant building presents a unique investment opportunity in Kokomo, Indiana. Located at 909 Belvedere Drive, this 4,927 square foot property sits on a 0.36-acre lot and offers significant potential for a new culinary venture. Built in 1970, the single-story building features a newly painted exterior and a recently installed metal roof, minimizing immediate maintenance needs. The property boasts its own dedicated parking lot, a significant advantage in a high-traffic area. Its strategic location near Markland Mall, as well as popular national chains like Walmart, Meijer, Raising Cane's, Popeye's, McDonald's, Sonic, and Chipotle, ensures high visibility and convenient access for potential customers. The asking price is $490,000, translating to $99.45 per square foot. This is a Net Net Net (NNN) lease opportunity, meaning the tenant is responsible for property taxes, insurance, and maintenance. The property is currently vacant, providing immediate occupancy for the new owner. This is an exceptional chance to establish a thriving restaurant business in a bustling commercial area. The single-unit building offers a straightforward layout, ready for customization to suit a variety of restaurant concepts. The property's size and location make it an ideal investment for both established restaurant operators and aspiring entrepreneurs.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1067593
    Latitude
    40.4775291

    Nearby Similar for Sale

    • $139,900
      Pending

      Kokomo Duplex Near Downtown

      Fully-leased duplex near downtown and baseball stadium.
      720 S Union St, Kokomo, IN 46901
      View Details
    • $150,000
      1,908 SF

      Kokomo Duplex: Investment Opportunity

      Cash-flowing duplex in Kokomo with solid rental history.
      801 Brandon St, Kokomo, IN 46901
      View Details
    • $649,900
      1.61 Acres

      Mixed-Use Property in High-Traffic Area

      Versatile property with updated offices, mechanic garages, and car lot.
      1518 S Dixon Rd, Kokomo, IN 46902
      View Details
    • $132,208
      0.17 Acres

      Kokomo Restaurant/Bar Opportunity For Sale

      Restaurant/bar with general business zoning near new battery plant.
      2222 N Plate St, Kokomo, IN 46901
      View Details
    • $1,360,000
      0.87 Acres

      High-Traffic Retail Investment Opportunity

      Two-tenant retail building on Southway Blvd with strong income.
      508 E Southway Blvd, Kokomo, IN 46902
      View Details
    • $125,000
      1,956 SF

      Kokomo Triplex Investment Opportunity

      Three-unit property in Kokomo, Indiana, ideal for investors.
      914 S Market St, Kokomo, IN 46902
      View Details
    • New
      $839,900
      5,000 SF

      Kokomo Showroom, Office, Storage Property

      Showroom, office space, and storage units on 10 acres.
      394 S 00 Ew Rd, Kokomo, IN 46902
      View Details
    • $169,500
      1,200 SF

      Updated Duplex in Kokomo, IN

      Well-maintained duplex with updates, ideal for investment or owner-occupancy.
      1406 N Philips St, Kokomo, IN 46901
      View Details
    • $375,000
      768 SF

      Kokomo Auto Sales/Service Location

      Auto sales and service location with office and billboard.
      2019 N Washington St, Kokomo, IN 46901
      View Details
    • New
      $399,000
      4,620 SF

      Commercial Garage Space with Workshop

      Commercial garage with workshop in Kokomo, Indiana for sale.
      1001 N Washington St, Kokomo, IN 46901
      View Details
    • Contact for pricing
      63,552 SF

      Renovated Portfolio in Growing Kokomo

      Meticulously renovated 37-unit portfolio in Kokomo, Indiana, with attractive returns.
      207 W Broadway St | Kokomo, Kokomo, IN 46901
      View Details
    • Contact for pricing
      1,340 SF

      Kokomo QSR Redevelopment Site

      1,340 SF redevelopment site on Kokomo's busiest street.
      2905 S Reed Rd, Kokomo, IN 46901
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Kokomo Restaurant, Vacant, 4,927 SF
    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 $490,000.
    What are key features of this property?
    This property features: $490,000 asking price for this vacant restaurant.; 4,927 square foot retail building.; Located in Kokomo, Indiana, at 909 Belvedere Dr, 46901.
    (765) 457-1700 Call to check price and availability
    Request Owner's contact information
    909 Belvedere Dr Kokomo, IN 46901
    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.
    909 Belvedere Dr
    Kokomo, IN 46901
    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
    909 Belvedere Dr Kokomo, IN 46901
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dj Butcher
    Dj Butcher
    Real Estate License ID: RB20000053
    (765) 457-1700 (765) 860-2591
    Learn more
    Google sign-in failed. Please try again or use another login method.