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

    2220 Alto Rd Kokomo, IN 46902-4840

    • Medical offices
    • 3,524 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    4%
    Medical offices
    Location Intelligence
    Property ID
    US31-1746643
    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

    • Dr. Scott A. Fretzin, MD / Dermatologist
    • Dawes Fretzin Dermatology / Dermatologist / Doctor
    • Dr. Ann-Marie Hyatt / Dermatologist
    • Mary Spolyar / Dermatologist

    Property Details for 2220 Alto Rd

    Year built
    1991
    Construction
    WOOD
    Lot size
    0.92 lot acres
    Property size
    3,524 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    34-09-14-100-094.002-006
    APU
    340914100094002006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $190,000
      6.5%
      $175,000
      7%
      $165,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $276,000
      Market price range: $51.2k - $293k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $185,000
      Current use
      RETAIL STORES
      $285,000
      Change: +54% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $265,000
      Change: +42% Conversion: Easy
      AUTO REPAIR, GARAGE
      $250,000
      Change: +36% Conversion: Difficult
      WAREHOUSE, STORAGE
      $250,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kokomo
    County
    Howard
    State
    Indiana
    Longitude
    -86.1635
    Latitude
    40.4407
    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
    $4,358
    $55,600
    $234,900
    $290,500
    -
    $55,600
    $234,900
    $290,500

    Comparable in this City

    • Value Estimation
      $400,000
      28,886 SF

      3611 Reed Rd Ste 214a

      MEDICAL BUILDING • 28,886 SF
      3611 Reed Rd Ste 214a, Kokomo, IN 46902-3806
      View Details
    • Value Estimation
      $210,000
      3,136 SF

      3804 Southland Ave

      MEDICAL BUILDING • 3,136 SF
      3804 Southland Ave, Kokomo, IN 46902-3637
      View Details
    • Value Estimation
      $265,000
      3,920 SF

      2362 Blvd Boulevard

      MEDICAL BUILDING • 3,920 SF
      2362 Blvd Boulevard, Kokomo, IN 46902-6080
      View Details
    • Value Estimation
      $270,000
      6,040 SF

      1926 Dixon 1928th Rd

      MEDICAL BUILDING • 6,040 SF
      1926 Dixon 1928th Rd, Kokomo, IN 46902
      View Details
    • Value Estimation
      $300,000
      19,891 SF

      3118 Lafountain St

      MEDICAL BUILDING • 19,891 SF
      3118 Lafountain St, Kokomo, IN 46902-3710
      View Details
    • Value Estimation
      $390,000
      28,886 SF

      3611 Reed Rd Ste, Unit 107

      MEDICAL BUILDING • 28,886 SF
      3611 Reed Rd Ste, Kokomo, IN 46902-3828
      View Details

    Similar Nearby for Sale

    • $265,000
      3,200 SF

      Kokomo Office Building Investment

      3,200 SF office building in Kokomo, fully leased.
      4101 S Dixon Rd, Kokomo, IN 46902
      View Details
    • $1,450,000
      8,064 SF

      Kokomo Office Building - $1.45M

      High-yield office complex, 8,064 SF, 5.5% cap rate.
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    • $225,000
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      Modern office, 1500 sq ft, high traffic.
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    • $450,000
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      Kokomo Office Building - $450K

      Prime Kokomo office space, vacant & ready.
      431 Lincoln Rd, Kokomo, IN 46902
      View Details
    • Contact for pricing
      3,046 SF

      Kokomo Retail or Office Space

      3,046 SF retail or office space with flexible layout.
      1400 E Hoffer St, Kokomo, IN 46902
      View Details
    • $425,000
      0.67 Acres

      Kokomo Commercial Building - High Visibility

      Versatile space, prime location, ample parking.
      408 Center Rd, Kokomo, IN 46902
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Kokomo Medical Office Space For Lease

      2,000 SF Medical Office Available Now
      1419 Reed Rd, Kokomo, IN 46902
      View Details
    • Contact for pricing
      3,095 SF

      Medical Office Space For Rent

      Professionally managed medical office park with convenient parking.
      2312 S Dixon Rd, Kokomo, IN 46902
      View Details
    • $10 SF/Yr
      120,000 SF

      Southway Plaza Retail Spaces

      Kokomo, IN retail & office space
      3800 Reed Rd, Kokomo, IN 46902
      View Details
    • $8 SF/Yr
      17,640 SF

      Kokomo Office Space for Lease

      Creative office space, 4,420 sq ft available
      3800 Reed Rd, Kokomo, IN 46902
      View Details
    • $3,887 /Mo
      1,942 SF

      Kokomo Office Space Available

      Versatile office suites for rent near national retailers.
      1940 South Elizabeth St, Kokomo, IN 46902
      View Details
    • Contact for pricing
      1,650 SF

      Retail Space in Markland Plaza

      Retail space available in a busy Kokomo shopping center.
      1114 S 17Th St, Kokomo, IN 46902
      View Details
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    2220 Alto Rd
    Kokomo, IN 46902-4840
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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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