226 Un St Kokomo, IN 46901-4606
- Retail space
- 5,808 SF
- 0.13 lot acres
Current Use by Public Records
- Entrance for Kokomo Schools Labpack / School
Property Details for 226 Un St
- Year built
- 1940
- Construction
- WOOD
- Lot size
- 0.13 lot acres
- Property size
- 5,808 SF
- Property type
- Retail space
- APN
- 34-03-36-288-007.000-002
- APU
- 340336288007000002
Description
This exceptional commercial property at 226 S Union Street, Kokomo, Indiana, presents a unique investment opportunity. The nearly 10,000 square foot building boasts a versatile layout ideal for a variety of businesses. Features include ample warehouse space equipped with four overhead doors, facilitating efficient loading and unloading. Multiple work rooms provide dedicated areas for specialized operations or office functions, while a large showroom offers excellent space for product display and customer interaction. The property's prime location in downtown Kokomo is a significant advantage, situated directly across the street from the planned site of a new convention center, promising increased foot traffic and visibility. This strategic positioning offers significant potential for growth and enhanced business prospects. The seller demonstrates flexibility by offering a build-to-suit option for potential buyers, with terms open to negotiation. Alternatively, the property is available for lease at a rate of $10 per square foot, and the seller is also open to build-to-suit arrangements for lease tenants, subject to mutually agreeable terms. This 0.51-acre lot provides ample space for expansion or future development. This is a rare chance to acquire a substantial commercial property in a rapidly developing area of Kokomo.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $305,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $440,000
- 6.5%
- $380,000
- 7%
- $440,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $440,000
- Geo Method
- $355,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $455,000
- Retail
- $370,000
- Mixed-Use
- $395,000
- Hospitality
- $405,000
- Educational
- $435,000
- Residential Income
- $435,000
- Energy
- $465,000
- Income-Based Land
- $490,000
- Food Service
- $490,000
Location Insight
- Map
- Local Demand
- City
- Kokomo
- County
- Howard
- State
- Indiana
- Longitude
- -86.1296
- Latitude
- 40.4848
- CBSA code
- 29020
- CBSA name
- KOKOMO, IN METROPOLITAN STATISTICAL AREA