2909 Reed Rd Kokomo, IN 46902-7908
- Turn key restaurants
- 8,259 SF
- 2.78 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 2909 Reed Rd
- Year built
- 1995
- Construction
- WOOD
- Lot size
- 2.78 lot acres
- Property size
- 8,259 SF
- Property type
- Turn key restaurants
- APN
- 34-10-07-402-009.000-002
- APU
- 341007402009000002
Description
This exceptional value-add opportunity presents an 8,259-square-foot restaurant located at 2909 S. Reed Road, Kokomo, IN 46902. The property, built in 1995, sits on a 2.78-acre lot and is zoned C2, allowing for a variety of commercial uses. Currently operating as a restaurant with a corporate-guaranteed lease held by Yori Kokomo, LLC, the property boasts 100% occupancy with a lease term expiring March 31, 2026 (1.4 years remaining). The current net operating income (NOI) is $99,108, yielding a 6.01% cap rate at the asking price of $1,650,000 ($199.78/sq ft). The lease is a Net Lease (NN) structure. The property benefits from a high-traffic location on Kokomo's busiest street, with 38,000 vehicles per day, and is situated in a primary retail corridor. Significant nearby employers include the Stellantis/Chrysler Transmission Plant and Haynes International Inc. Kokomo's population has experienced substantial growth (29% from 2010 to 2020), further enhancing the investment potential. The sale includes existing restaurant and kitchen equipment. A liquor license is available for an additional fee. The property offers high visibility with signage rights and access from Reed Road (38,255 VPD) and Lincoln Road (10,913 VPD). It's conveniently located 45 minutes north of Indianapolis and benefits from Indiana's strong economy. The property is also situated on the pedestrian "Industrial Heritage Trail," connecting it to several hotels and the Stellantis plant. Future development in the area includes significant investments by Samsung and Stellantis in electric vehicle battery factories.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kokomo
- County
- Howard
- State
- Indiana
- Longitude
- -86.1157
- Latitude
- 40.4534
- CBSA code
- 29020
- CBSA name
- KOKOMO, IN METROPOLITAN STATISTICAL AREA
