Investment Overview

Marcus & Millichap is pleased to present for sale the Southway Professional Building, an approximately 37,000-square-foot two-story value-add, multi-tenant medical and professional office building located in Kokomo, Indiana near Howard County’s Regional Hospital. The subject property is currently 77.21 percent occupied by a synergistic medical and service-oriented tenant base. The property’s main anchor tenants are the State of Indiana Department of Family Resources (29.55 percent of NRA) and Ascension Medical Group (27.75 percent of NRA). Other tenants at the property include SRT Prosthetics & Orthotics, Psychotherapy Associates and Ameriprise Financial Services. There is an approximately 6,000-square-foot vacant suite on the second floor in shell condition, offering any incoming investor a value-add opportunity through lease-up at a market rate. Originally built in 1974 and renovated in 2012, the building sits on 2.40 acres near the southwest intersection of East Southway Blvd. and South LaFountain Street; which is directly parallel to SR 931, Kokomo’s main north and south thoroughfare and retail corridor. The site is in one of the main commercial hubs of Kokomo with other nearby businesses in the immediate one mile radius including Lowe’s, Texas Roadhouse, Walgreens, Culver’s, Cracker Barrel, Starbucks, Burger King, Arby’s, Kroger, Rural King, Harbor Freight and more. Southway Professional Building is a unique opportunity to acquire a class B medical office building at an attractive price point with an established tenant base, close proximity to Kokomo’s Community Howard Regional Health Hospital and with significant value/income creation opportunities through vacancy lease-up.