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    115 Park Ave Newport, KY 41071

    • Mixed-use properties
    • 8,789.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0089632
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 115 Park Ave

    Year built
    1927
    Lot size
    8,789.00 lot acres
    Property type
    Mixed-use properties

    Description

    This exceptional mixed-use property, located at 115 Park Avenue Unit 115 in Newport, Kentucky, presents a unique investment opportunity. Situated on a generous 8789-square-foot lot within a designated riverfront development district, this property offers unparalleled potential for builders and developers. The existing four-bedroom home provides immediate income potential or a comfortable residence while development plans are underway. Enjoy breathtaking city views from this enviable location, just steps from the Ohio River. The property's prime location places you within easy walking distance of Newport on the Levee, providing convenient access to entertainment, dining, and shopping. Sports enthusiasts will appreciate the proximity to major sporting events, including Reds, Bengals, and Cyclones games. The home itself features a six-year-old roof, a spacious kitchen, a first-floor bedroom, a one-car garage, a newer hot water heater, and updated windows. Ample off-street parking is available, supplemented by free public parking directly across the street. This property's combination of existing structure, expansive lot size, and exceptional location makes it an ideal candidate for redevelopment or renovation, offering significant return on investment. The asking price is $259,500.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Campbell
    State
    Kentucky
    Longitude
    -84.49221
    Latitude
    39.09779

    Comparable in this City

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      Mixed-Use Building in Newport, KY

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      228 E 10Th St, Newport, KY 41071
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      4,897 SF

      Renovated Mixed-Use Building For Sale

      Completely renovated, fully leased mixed-use building with commercial and residential units.
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      Newport Mixed-Use Investment Opportunity

      Mixed-use property with retail and multifamily units in Newport, KY.
      1002 York St, Newport, KY 41071
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    • $399,900
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      Mixed-Use Building in Newport, KY

      Three-unit building with residential and commercial spaces in Newport.
      337 W 11Th St, Newport, KY 41071
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    • $429,900
      0.08 Acres

      Newport Levee Mixed-Use Opportunity

      Prime Location, Endless Potential, Needs Renovation
      312 Monmouth St, Newport, KY 41071
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    • $1,250,000
      2.00 Acres

      Woodlawn, KY Multifamily Development Land

      Land for multifamily development with downtown Cincinnati views.
      1 Baum & Burnet, Woodlawn, KY 41071
      View Details

    Similar Nearby for Sale

    • $239,500
      2,700 SF

      Mixed-Use Building in Newport, KY

      Mixed-use property with apartment and commercial space in Newport.
      228 E 10Th St, Newport, KY 41071
      View Details
    • Contact for pricing
      4,897 SF

      Renovated Mixed-Use Building For Sale

      Completely renovated, fully leased mixed-use building with commercial and residential units.
      601 Overton St, Newport, KY 41071
      View Details
    • $550,000
      3,358 SF

      Newport Mixed-Use Investment Opportunity

      Mixed-use property with retail and multifamily units in Newport, KY.
      1002 York St, Newport, KY 41071
      View Details
    • $399,900
      3,136 SF

      Mixed-Use Building in Newport, KY

      Three-unit building with residential and commercial spaces in Newport.
      337 W 11Th St, Newport, KY 41071
      View Details
    • $429,900
      0.08 Acres

      Newport Levee Mixed-Use Opportunity

      Prime Location, Endless Potential, Needs Renovation
      312 Monmouth St, Newport, KY 41071
      View Details
    • $1,250,000
      2.00 Acres

      Woodlawn, KY Multifamily Development Land

      Land for multifamily development with downtown Cincinnati views.
      1 Baum & Burnet, Woodlawn, KY 41071
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,500 SF

      Prime Build-to-Suit Commercial Lot

      High-traffic location, ideal for retail, medical, or office development.
      2412 Alexandria Pike, Highland Heights, KY 41071
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    • $16 SF/Yr
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      Office Space in Newport, KY

      6,100 SF office space for lease in Newport.
      30 W 4Th St, Newport, KY 41071
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    • $24 SF/Yr
      7,756 SF

      Former Brewery Space on Levee

      7,756 SF brewery space with equipment and outdoor patio.
      1 Levee Way, Newport, KY 41071
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    • Contact for pricing
      16,370 SF

      Retail Space in Newport Corridor

      Retail spaces available in high-visibility Newport location.
      1697-1853 Monmouth St, Newport, KY 41071
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    • Contact for pricing
      20,980 SF

      Office/Retail Space in Newport Plaza

      Plaza level space suitable for office or retail tenants.
      200 W 3Rd St, Newport, KY 41071
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    • $19 SF/Yr
      21,930 SF

      Newport Office Sublease: Riverfront Views

      Prime Newport office sublease with stunning river views.
      300 Dave Cowens Dr, Newport, KY 41071
      View Details
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    115 Park Ave
    Newport, KY 41071
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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
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