1820 Markland AveKokomo, IN 46901

Property Details for 1820 Markland Ave

Year built

2020

Construction

TYPE NOT SPECIFIED

Lot size

0.62 AC

Property size (Sq ft)

3,286 SF

Property type

Other commercial real estate

APN

34-04-32-352-036.000-002

APU

340432352036000002

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN ground lease on a 1,667 square foot Valvoline Instant Oil Change in Kokomo, Indiana. Located on East Markland Avenue, this property benefits from its strategic outparcel position to a high-performing Walmart Supercenter, ensuring consistent customer traffic within a thriving retail corridor. Built in 2020, the property boasts a 100% occupancy rate with a corporate guarantee from Valvoline Inc. (NYSE: VVV), providing exceptional security and passive income. The lease, commencing August 15, 2020, and expiring August 17, 2035, offers a substantial remaining term of 10.7 years, with built-in 10% rent bumps every five years, protecting against inflation. The current Net Operating Income (NOI) stands at $82,500, yielding a 5.65% cap rate. The lease includes three and five-year renewal options, further enhancing the long-term value of this investment. Kokomo's robust population growth and the presence of numerous national retailers in the immediate vicinity solidify this property's position as a prime retail investment. This offering is ideal for 1031 exchange buyers seeking a secure, high-performing asset with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $676,426

  Hospitality

  $619,603

  Educational

  $515,502

  Medical

  $533,231

  Retail

  $801,893

Location Insight

City

Kokomo

County

Howard

State

Indiana

Latitude

40.4772

Longitude

-86.1056

CBSA code

29020

CBSA name

KOKOMO, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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