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    The Largest CRE Database in the US with Over 1 Million Listings

    5234 Madison Pike Independence, KY 41051

    Sponsored
    For Sale
    $524,900

    COMMERCIAL - Independence, KY

    Property size:
    4,236 SF
    Lot size:
    0.51 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 30 at 10:06 am

    Property Features for 5234 Madison Pike

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Window features
    Vinyl Frames, Insulated Windows
    Rooms
    Basement
    APN
    046-20-00-077.02
    Parking
    2
    Exterior features
    Lighting
    Basement
    Partial
    Size
    4,236 SF
    Lot size
    0.51 Acres

    Utilities

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

    Building Details

    Year built
    1847
    Floors in Building
    2
    Flooring type
    Vinyl, Tile
    Building materials
    Brick, Concrete
    Roof type
    Shingle

    We can help!

    Listing Contact
    Tara Goetz

    Fathom Realty KY LLC (513) 201-7890

    Listing agent Tara Goetz (888) 455-6040 License #281984

    Listing date Jan 28, 2026

    MLS# 639237

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Mixed-Use Property, Independence, KY

    This extensively renovated historic property, registered and located in the heart of Independence, Kentucky, offers office, professional, or mixed-use potential. The buyer is responsible for verifying zoning and permitted uses. The property features approximately 3,360 sq. ft. of finished space with a fully rebuilt interior designed to support modern business operations. Recent updates include a new roof, HVAC, electrical, plumbing, and flooring throughout. A home warranty is included. The flexible floor plan includes multiple private rooms, each with its own separate exterior entry door, allowing for individual offices, consultation rooms, or multi-tenant configurations. The upper level features a dedicated private entry, accessible via the double-gallery porches, offering additional separation suitable for office suites or live/work use. Interior spaces include open common areas appropriate for reception or waiting areas. The updated kitchen features stainless steel appliances, double ovens, a wine fridge, and custom cabinetry. Three full bathrooms enhance functionality for staff and clients. Exterior features include double porches, a covered veranda, and a large patio that may be suitable for client seating or gatherings. A parking pad will be added along the entire right side of the original driveway once under contract. An existing easement on the opposite side of the property may allow for additional future parking, subject to approvals and buyer verification. The property is located in the heart of Independence, minutes from interstate access and approximately 20 minutes from CVG Airport, within a well-established and growing community. The lot size is 0.51 acres, and the total property size is 4,236 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Independence
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.542887
    Latitude
    38.944508

    Nearby Similar for Sale

    • $425,000
      Pending

      Corner Lot Commercial Property

      Commercial building on a corner lot in Independence, Kentucky.
      5245 Madison Pike, Independence, KY 41051
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    • $1,100,000
      5,500 SF

      Auto Repair Shop Opportunity

      Equipped auto repair shop in Independence, Kentucky for sale.
      5323 Madison Pike, Independence, KY 41051
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    FAQs

    What type of property is this?
    Mixed-use property - Renovated historic property with office, professional, or mixed-use potential.
    Where is this mixed-use property located?
    The property is located at 5234 Madison Pike Independence, KY.
    What is the asking price?
    The asking price for this property is $524,900.
    What are key features of this property?
    This property features: - Extensively renovated historic property with MODERN UPDATES including a new roof, HVAC, electrical, plumbing, and flooring.; - Flexible floor plan with multiple private rooms, each with separate exterior entry, suitable for office, professional, or mixed-use.; - Upper level with dedicated private entry and DOUBLE-GALLERY PORCHES, ideal for office suites or live/work use.
    (888) 455-6040
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    5234 Madison Pike Independence, KY 41051
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    Independence, KY 41051
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    5234 Madison Pike Independence, KY 41051
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    We can help!
    Listing Contact
    Tara Goetz
    Real Estate License ID: 281984
    (888) 455-6040
    Learn more
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