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IN
Kokomo
46901
804 Purdum St

Property profile

804 S Purdum St Kokomo, IN 46901

FOR SALE

Office Spaces

Property ID

US31-1740832

19,094 SF 0.59 ac lot Built 1971

Individually Owned Absentee Owner Free & Clear

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$299,900 19,094 SF

804 S Purdum St, Kokomo, IN 46901
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This exceptional Kokomo, Indiana commercial property presents a unique investment opportunity. Situated on a generous 1.18-acre lot at 804 S Purdum Street, the building boasts an impressive 18,000 square feet of versatile space. The property's layout is particularly well-suited for educational or recreational purposes, featuring eight sizable classrooms, each designed for optimal learning environments. A significant highlight is the inclusion of a full-size gymnasium complete with retractable bleachers and conveniently located locker rooms, providing ample space for athletic activities or large gatherings. Two separate entrances, each with its own foyer, ensure efficient flow and accessibility for occupants and visitors. Ample parking is provided with a large lot accommodating 20 or more vehicles. Furthermore, the property includes a designated area perfectly suited for the development of a playground, adding to its appeal for a variety of potential uses. The asking price for this substantial property is $299,900. This presents a rare chance to acquire a well-maintained building with significant potential in a desirable Kokomo location. The property's size, amenities, and ample parking make it an attractive prospect for a diverse range of commercial ventures. Serious inquiries are encouraged.

Property type Office Spaces

Use group OFFICE (GENERAL)

Year built 1971

Construction WOOD

Total area 19,094 SF

Lot 0.59 ac (25,700 SF)

APN 34-04-31-357-007.000-002

UPID US31-1740832

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Counselor

804 S Purdum St Kokomo, IN 46901

Kokomo metro Census 1200 KOKOMO, IN METROPOLITAN STATISTICAL AREA

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CAP Approach CAP

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Comparable Approach Comparable

$1.38M

Blend (final) Blend

$1.57M

Top alternative use upside

Restaurant $2.1M +58.0%

Auto repair, garage $1.8M +39.7%

Retail stores $1.7M +25.2%

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