Covington Commercial Warehouse For
134 W 38th Street Covington, KY 41015
134 W 38th Street, Covington, KY, 41015
$525,000
For Sale
$525,000
COMMERCIAL - Covington, KY
Property Size6,600 SF
Price / SF$79.55
Days on Market365
Property Features for 134 W 38th Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 000000000
- Size
- 6,600 SF
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Water source
- Public
Building Details
- Year built
- 1957
- Floors in Building
- 1
- Building materials
- Block
- Roof type
- Built-Up
Listing Agency
eXp Realty, LLC
(859) 795-7995
2110 Chamber Center Dr., Ashland, KY
Listed by
Caldwell Group
(859) 780-5511
Added: Jul 22, 2025 Updated: Apr 24 at 2:12 pm Checked: Jul 21 at 5:06 am
MLS# 634570
Copyright © 2026 Northern Kentucky MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Covington, this commercial warehouse offers 6,600 square feet of space. The property is positioned on W 38th Street, providing access to transportation routes and the Greater Cincinnati area. It presents an opportunity for businesses seeking space for operations, storage, or distribution.
Key Highlights
- 6,600 sq ft commercial warehouse provides ample space for operations, storage, or distribution.
- Located in the heart of Covington.
- Easy access to major transportation routes.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.5k | $7.80 |
| − Vacancy | −$7.1k | −$1.07 |
| EGI | $44.4k | $6.73 |
| − OpEx | −$6.7k | −$1.01 |
| NOI | $37.8k | $5.72 |
6,600 SF · lease $7.80/SF/yr · vacancy 13.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$539.5K
$472.0K – $629.4K
NOI $37,763 @ 7.0% cap · market cap 7.19%
Second Best
Industrial
$484.9K
$424.3K – $565.8K
NOI $33,946 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,269 @ 7.0% cap · market cap 22.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Warehouses
Similar For Sale Nearby
Similar Off Market Nearby
- Extra Space Storage — 525 W 35th St, Covington, KY 41015
FAQs
What type of property is this?
Warehouse - 6,600 SF commercial warehouse in the heart of Covington.
Where is this warehouse located?
The property is located at 134 W 38th Street Covington, KY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 6,600 sq ft commercial warehouse provides ample space for operations, storage, or distribution.; Located in the heart of Covington.; Easy access to major transportation routes.
