Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    1205 Maryland Avenue Unit 1205 Covington, KY 41011

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $295,000

    7,500 SF Covington building with private parking lot.

    Type:Mixed Use
    Property size:
    7,500 SF
    Price / SF:
    $39/SF
    Added:
    Jan 26, 2025
    Days on Market:
    459
    Last Refresh:
    Apr 1 at 9:35 pm

    Property Features for 1205 Maryland Avenue Unit 1205

    General Information

    Standard status
    Active
    Size
    7,500 SF
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1870

    We can help!

    Listing Contact
    Marie Wieder

    Listing agent Marie Wieder

    Listing office RE/MAX Victory + Affiliates

    Listing date Jan 26, 2025

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Victory + Affiliates

    Overview

    Covington Mixed-Use Building with Parking

    Located in Covington, this 7,500 sq ft, 3-level building includes a private parking lot for 25-30 cars. The property features 3 HVAC systems, a fully equipped kitchen, a meeting room, and an apartment. The building could be used as a 4-unit apartment building, a daycare, a multi-level bar, or an event space for weddings and special occasions. Covington is known for its support for small businesses and offers entrepreneurial incentives.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.500763
    Latitude
    39.077982

    Nearby Similar for Sale

    • $350,000
      2,856 SF

      Historic Covington Duplex For Sale

      Well-maintained duplex with owner-occupancy or investment potential in Covington, KY.
      1946 Eastern Avenue, Covington, KY 41014
      View Details
    • $319,500
      5,556 SF

      Mixed-Use Building in Ludlow

      Two-story mixed-use building with retail and residential potential.
      401-403 Elm Street, Covington, KY 41016
      View Details
    • $315,000
      1,462 SF

      Covington Duplex with Skyline Views

      Duplex in up-and-coming Covington with off-street parking and views.
      1112 W Pike Street, Covington, KY 41011
      View Details
    • $285,000
      1,848 SF

      Covington Multifamily Investment Opportunity

      Charming 2-story brick multifamily property with income-producing potential.
      2609 Greenup Street, Covington, KY 41014
      View Details
    • $244,999
      1,464 SF

      Covington Multifamily Investment Opportunity

      Multifamily property in Covington, KY, generating $2,480 monthly rental income.
      109 Daniels Street, Covington, KY 41015
      View Details
    • $495,900
      925 SF

      Updated Multi-Unit Building in Covington

      Remodeled multi-family property near downtown Covington and Newport.
      1523 Greenup Street, Covington, KY 41011
      View Details
    • $525,000

      Covington Commercial Warehouse For Sale

      6,600 SF commercial warehouse in the heart of Covington.
      134 W 38th Street, Covington, KY 41015
      View Details
    • $1,250,000
      12,400 SF

      Freestanding Dollar Tree Investment Property

      Single tenant Dollar Tree in Covington, KY for sale.
      1026 Madison Ave, Covington, KY 41011
      View Details
    • $540,000
      3,200 SF

      Covington Commercial Investment Opportunity

      Two-story commercial building with first-floor restaurant and rehab potential.
      508 Madison Avenue, Covington, KY 41011
      View Details
    • $295,000

      Covington Duplex: Income Potential

      Duplex in desirable location with income potential and updated utilities.
      2009 Greenup Street, Covington, KY 41014
      View Details
    • $270,000
      546 SF

      Covington Drive-In Style Building

      Free-standing building with drive-in concept and outdoor seating.
      3024 Madison Ave, Covington, KY 41015
      View Details
    • $399,000
      4,118 SF

      Retail/Office Space in Kenton County

      4,118 SF grey shell retail/office space for sale.
      729 Scott St, Covington, KY
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 7,500 SF Covington building with private parking lot.
    Where is this mixed-use property located?
    The property is located at 1205 Maryland Avenue Unit 1205 Covington, KY.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Private parking lot for 25‑30 cars. A rare find!; **7,500 sq. ft., 3‑level building** suitable for various business ventures.; Located in Covington, a city known for its strong support for small businesses and entrepreneurial incentives.
    (859) 372-6000
    We can help!
    Listing Contact
    Marie Wieder
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!