148 Creekside DrKokomo, IN 46901

Property Details for 148 Creekside Dr

Year built

1987

Construction

WOOD

Lot size

0.79 AC

Property size (Sq ft)

7,740 SF

Property type

Retail space

APN

34-04-31-228-006.000-002

APU

340431228006000002

Description

This exceptional Kokomo, Indiana retail property presents a compelling investment opportunity. Located at 148 Creekside Dr, 46901, this 7,882 square foot multi-tenant storefront sits on a 0.81-acre lot and boasts a strong 6.66% capitalization rate, generating a net operating income (NOI) of $39,600 annually. The asking price is $595,000, translating to a price per square foot of $75.49. The property is zoned C-2 and features excellent visibility with frontage on busy IN-931, experiencing 43,940 vehicles per day. The building comprises three suites: Suite A (3,025 SF) and Suite C (719 SF) are currently vacant, offering immediate potential for owner-occupancy or lease-up. Suite B (3,804 SF) is occupied, providing a steady stream of rental income. This property is ideal for an owner-user seeking a high-traffic location with existing income potential, or for an investor looking for a strong return on investment in a thriving market. The property's location in Howard County, Indiana, offers easy access to major transportation routes and a diverse customer base. This is a rare opportunity to acquire a well-positioned retail center with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,139,948

  6.5%

  $1,975,337

  7%

  $1,834,241

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,422,301

  Geo Method

  $2,422,301

• Alternative Use

  Use

  Valuation

  Residential

  $1,666,270

  Hospitality

  $1,526,295

  Educational

  $1,269,859

  Medical

  $1,313,532

  Retail

  $1,975,337

Location Insight

City

Kokomo

County

Howard

State

Indiana

Latitude

40.4878

Longitude

-86.1082

CBSA code

29020

CBSA name

KOKOMO, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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