2030 Boulevard Kokomo, IN 46902
- Office Properties & Spaces
- 7,534 SF
Current Use by Public Records
- Peter S. Nechay, MD / Cardiologist
- Kingsley Annan, MD / Cardiologist
- Ashley G. Funk, MD / Cardiologist
- David E. Wrobleski, MD / Cardiologist
- David Wrobleski / Internist / Practitioner Service Location
Property Details for 2030 Boulevard
- Property size
- 7,534 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 7,534 square foot medical office building in Kokomo, Indiana, currently 100% occupied by a credit-rated tenant, Ascension Kokomo Heart Care. The property, located at 2030 W Blvd, Kokomo, IN 46902, sits on a 0.95-acre lot and boasts a strong financial profile. The Net Lease (NNN) structure ensures minimal landlord responsibilities, with operating expenses and real estate taxes covered by the tenant. The current lease, commencing February 3, 2015, and expiring February 2, 2028, offers a remaining term of approximately 3.2 years, with a built-in 5-year option to extend. The lease includes a favorable 2% annual rent increase, providing consistent income growth. The building underwent renovations in 2015, including a new roof. The property's strong financial performance is reflected in its 8.10% cap rate and a Net Operating Income (NOI) of $97,309. This offering presents a compelling investment opportunity for buyers seeking a stable, long-term income stream with a high-quality tenant and minimal management burden. The below-market rent, according to CoStar Analytics, presents further upside potential. Ascension, a Moody's Aa2 rated tenant, has a long operating history at this location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kokomo
- County
- Howard
- State
- Indiana
- Longitude
- -86.1612
- Latitude
- 40.4623
