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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1500 Reed Rd Kokomo, IN 46901

    • Outlet malls
    • 100,968 SF
    • 11.50 lot acres
    For Sale
    View listing
    $4,999,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1719785
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Kokomo Event & Conference Center / Conference Center / Event Venue
    • Lucas Home Furnishings Warehouse / Warehouse
    • Sunrise Structures of Kokomo / Shed Builder / Gazebo Builder
    • Kokomo Fireworks / Fireworks Store / Fireworks Supplier
    • Simply Tasty Jam / Grocery Store

    Property Details for 1500 Reed Rd

    Year built
    1990
    Construction
    WOOD
    Lot size
    11.50 lot acres
    Property size
    100,968 SF
    Property type
    Outlet malls
    APN
    34-04-30-277-002.000-002
    APU
    340430277002000002

    Description

    This exceptional 100,968 square foot commercial building presents a significant investment opportunity in Kokomo, Indiana. Strategically located just south of the new battery plant, this property boasts high visibility and convenient access to major highways. The expansive 11.5-acre lot includes a substantial parking area, perfect for accommodating employees and customers. The building itself features a multitude of potential uses, including warehousing, storage, retail, and restaurants. With two dock doors and four overhead doors, loading and unloading are efficient and straightforward. The interior offers versatile space with ceiling heights ranging from 14 to 20 feet. A prominent multi-tenant sign enhances visibility and marketing opportunities. This property's size, location, and features make it ideal for a single large business seeking expansion or multiple tenants seeking a shared space. The potential for increased cash flow through various business models makes this a compelling investment for both established businesses and savvy investors. The property is priced at $4,999,000. Don't miss this chance to acquire a prime commercial property in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1087
    Latitude
    40.5009
    CBSA code
    29020
    CBSA name
    KOKOMO, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $57,975
    $1,221,500
    $711,000
    $1,932,500
    -
    $1,221,500
    $711,000
    $1,932,500

    Comparable in this City

    • Value Estimation
      $17,660,000
      209,854 SF

      2301 Markland Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 209,854 SF
      2301 Markland Ave, Kokomo, IN 46901-6245
      View Details
    • Value Estimation
      $10,175,000
      126,051 SF

      2130 Markland Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 126,051 SF
      2130 Markland Ave, Kokomo, IN 46901-6240
      View Details
    • Value Estimation
      $7,435,000
      88,836 SF

      1805 Markland Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 88,836 SF
      1805 Markland Ave, Kokomo, IN 46901-6235
      View Details
    • Value Estimation
      $950,000
      20,180 SF

      1807 Markland Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 20,180 SF
      1807 Markland Ave, Kokomo, IN 46901-6235
      View Details
    • Value Estimation
      $15,610,000
      188,016 SF

      1715 Havens St

      WHOLESALE OUTLET, DISCOUNT STORE • 188,016 SF
      1715 Havens St, Kokomo, IN 46901-3177
      View Details
    • Value Estimation
      $10,980,000
      133,817 SF

      1917 Markland Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 133,817 SF
      1917 Markland Ave, Kokomo, IN 46901-6237
      View Details

    Similar Nearby for Sale

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      Kokomo Restaurant Asset For Sale

      Value-add restaurant asset in Kokomo's primary retail corridor.
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    • $800,000
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      Kokomo QSR Redevelopment Site

      1,340 SF redevelopment site on Kokomo's busiest street.
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    Similar Nearby for Lease

    • Contact for pricing
      7,575 SF

      Kokomo Retail Space For Lease

      Retail space available in community shopping center anchored by Kroger.
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      Retail spaces available near a Simon-owned power center.
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    • Contact for pricing
      540 SF

      Kokomo Retail Hub Space Available

      Retail space available in Kokomo's leading shopping destination.
      1035 S Reed Rd, Kokomo, IN 46901
      View Details
    • $10 SF/Yr
      133,384 SF

      Kokomo Retail Center Investment

      High-traffic retail space in Kokomo, IN.
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    • Contact for pricing
      10,233 SF

      Freestanding Retail Space Available

      10,233 SF freestanding retail space in Kokomo, Indiana.
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      View Details
    • $2,500 /Mo

      Downtown Kokomo Versatile First-Floor Unit

      Versatile 1,788 sq ft unit in the heart of Downtown.
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    1500 Reed Rd
    Kokomo, IN 46901
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    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
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