Kokomo Plaza_Property for Sale
Kokomo Plaza_Property for Sale
513 S Reed Rd, Kokomo, IN, 46901, US

Kokomo Plaza

Asset Description

241,283 SF Discount and Service Oriented Neighborhood center in Kokomo, IN. The center is 99% occupied - anchored by Ollie's Bargain Outlet and Vendor City and supported by Dollar Tree and Aaron's. Kokomo Plaza boasts low market rental rates and is located in a strong retail corridor.



Building area Gross
8,319 m²
Year built


Investment Highlights

Below Market Rental Rates Allow for Mark to Market Opportunity

  • Weighted Average In-Place Rents of $6.16 are at significant discount to market average
  • Weighted Average Rent of $4.90/SF  for box tenants greater than 10,000 SF are 43% Below Market

Tenancy Mix of Discount and Service Oriented Tenancy Fits Consumer Demographic Profile

  • 64% of income is attributed to discount or dollar stores
  • Supported by 36% blue collar workforce and $61,324 average household income in 3-mi radius

Strong Retail Fundamentals Within 3-miles

  • Market retail rent of $12.28 grew 3% YoY, consistent with trailing 3-year average
  • Retail vacancy of 3.2% sits 100 bps below national average, with no new to market product since 2020

Strategically Located at Main & Main Retail Location

  • Located within 1-mile radius of Walmart, Target, Sam's Club, Meijer, Best Buy, FiveBelow, Burlington, and more, generating 8.6+mm annual visits

Attractive Basis Well Below Replacement Cost

Kokomo Plaza 4_Property for Sale

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Kokomo Plaza (0 Properties)

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Last updated
19 May 2023