2130 Markland AveKokomo, IN 46901

Property Details for 2130 Markland Ave

Year built

1992

Construction

TYPE NOT SPECIFIED

Lot size

20.58 AC

Property size (Sq ft)

126,051 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

34-04-32-377-002.000-002

APU

340432377002000002

Description

This exceptional 133,384 square foot single-story retail center, located at 2130 E Markland Ave, Kokomo, IN 46901, presents a unique investment opportunity. The property boasts a prime location in Howard County, experiencing daily traffic counts nearing 40,000 vehicles. The center features a newly renovated interior and exterior, ensuring a modern and attractive aesthetic for tenants and customers. Ample parking is available, providing a generous 7 spaces per 1,000 square feet. Currently, there are multiple tenants occupying the space, including a diverse mix of retail, restaurant, and entertainment businesses such as shoe stores, medical offices, and a diner. Three spaces are currently available, ranging from 1,200 to 40,000 square feet, with a minimum divisible space of 2,200 square feet and a maximum contiguous space of 10,200 square feet. The center benefits significantly from its proximity to a Walmart Supercenter, which ranks in the top 3% of all Walmart stores nationwide in terms of sales volume, driving substantial foot traffic to the entire shopping center. Furthermore, the property's location is approximately a quarter-mile from a new championship park, adding to its appeal and potential for increased customer traffic. This is a rare opportunity to acquire a thriving retail center in a high-growth area with strong anchor tenants and exceptional visibility.

• CAP approach

  CAP return

  Valuation

  6%

  $33,324,442

  6.5%

  $30,761,022

  7%

  $28,563,806

• Comparable approach

  Method

  Valuation

  Relative Method

  $39,448,768

  Geo Method

  $39,448,768

• Alternative Use

  Use

  Valuation

  Residential

  $25,948,074

  Hospitality

  $23,768,296

  Educational

  $19,774,944

  Medical

  $20,455,034

  Retail

  $30,761,022

Location Insight

City

Kokomo

County

Howard

State

Indiana

Latitude

40.4789

Longitude

-86.101

CBSA code

29020

CBSA name

KOKOMO, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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