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    508 Madison Ave Covington, KY 41011

    For Sale
    $540,000

    COMMERCIAL - Covington, KY

    Property size:
    3,200 SF
    Lot size:
    0.07 Acres
    Days on Market:
    271
    Last Refresh:
    Dec 13 at 6:06 pm

    Property Features for 508 Madison Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Rooms
    Basement
    APN
    054-23-05-025.00
    Parking features
    On Street, Assigned
    Exterior features
    Lighting, Curbs, Sidewalks
    Basement
    Partial
    Size
    3,200 SF
    Lot size
    0.07 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Multi Units, Central Air
    Water source
    Public

    Building Details

    Floors in Building
    2
    Flooring type
    Wood
    Building materials
    Brick
    Roof type
    Membrane

    Comey & Shepherd, REALTORS

    Listing agent Ed Ferrall (513) 367-3650 License #195908

    Listing date Mar 18, 2025

    Copyright © 2025 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.

    Overview

    Covington Commercial Investment Opportunity

    This is a 3,200 square foot, two-story brick commercial property presenting an investment opportunity. The first floor is currently rented to Wabi Sabi Sushi bar, with a current rent of $2,700 per month. The first floor includes a bar, back shelving, hood, alarm system, outside patio/seating area, and a walk-in cooler. There are also two basement areas, one of which is used for tenant storage. The property has two assigned rear parking spots. The building has two rooftop A/C units, one of which is new, and a rubber roof that is 5 years old. The second floor has been gutted to the studs and has water and electric, requiring a complete rehabilitation. The property is located in a historic district and is being sold AS-IS. The lot size is 0.07 acres. Note that no liquor license is included with the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wabi Sabi Sushi Restaurant

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    D's Spot, Mr T's Tavern On Main, wefrtyytre, Parrett's Corner, 2nd Time Around

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.510348
    Latitude
    39.085642

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    FAQs

    What type of property is this?
    Bar - Two-story commercial property with rental income and redevelopment potential.
    Where is this bar located?
    The property is located at 508 Madison Ave Covington, KY.
    What is the asking price?
    The asking price for this property is $540,000.
    What are key features of this property?
    This property features: - Investment/commercial opportunity: 3200 sqft brick building.; - Established sushi bar tenant: First floor generates $2700/month in rental income.; - Restaurant infrastructure: Includes bar, hood, alarm system, outside patio/seating, and walk-in cooler.
    (513) 367-3650
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    508 Madison Ave Covington, KY 41011
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    Covington, KY 41011
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    508 Madison Ave Covington, KY 41011
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