Mixed-Use Building with Drive-Up
For Sale
$1,000,000
132 Elm St, Covington, KY 41016
Two suites support medical, professional office, retail, food service, and other commercial configurations.
Property Size4,667 SF
Price / SF$214.27
Days on Market47
Property Features for 132 Elm St
General Information
Standard status
Active
Size
4,667 SF
Additional Details
Furnished
Yes
Office Units
2
Amenities
membrane roof
natural gas Kohler generator
full-color digital electronic pylon sign
wired security system with cell phone backup
drive-up window
Building Details
Year Built
2012
Listing Agency:
Huff Realty - Florence
Listed By:
Doug Mayberry, Brett Mayberry
Source:
Lovdalgroup
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 24 at 9:58PM
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 Huff Realty - Florence
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Investment Insights
Based on property information with market context.
This mixed-use commercial building is arranged as two suites with flexible positioning for office, medical, retail, food service, and other commercial uses. One suite includes furniture, fixtures, and equipment and is configured for medical or professional office operations. The second suite previously housed a pharmacy and retains a drive-up window for customer convenience.
Building improvements include a membrane roof, a natural gas Kohler generator serving the entire property, and a full-color digital electronic pylon sign. Security is provided through a wired system with cellular backup. The suites may be configured for multiple tenants or adapted to different commercial requirements.
Building improvements include a membrane roof, a natural gas Kohler generator serving the entire property, and a full-color digital electronic pylon sign. Security is provided through a wired system with cellular backup. The suites may be configured for multiple tenants or adapted to different commercial requirements.
Key Highlights
- Two‑suite commercial building with flexible configuration
- Suite includes FF&E for medical or professional office use
- Second suite has an existing drive‑up window
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,886
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,720
$1.2M
Cap Rate 7%
$869,800
$869.8K
Cap Rate 9%
$676,511
$676.5K
Market Conditions
NOI Build-Up for 4,667 SF
Gross rent
$93.5K $20.04/SF
− Vacancy
−$12.3K −$2.65/SF
EGI
$81.2K $17.39/SF
− OpEx
−$20.3K −$4.35/SF
NOI
$60.9K $13.05/SF
Area
Kenton County, KY
Vacancy
13.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,720
Cap Rate 7%
$869,800
Cap Rate 9%
$676,511
Alternative Uses
Best Use
Office B
$869.8K
$761.1K – $1.01M
NOI $60,886 @ 7.0% cap · market cap 6.09%
Second Best
Retail
$722.8K
$632.4K – $843.2K
NOI $50,593 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,338 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 41016, KY
5,684
Population
2,958
Households
1.9
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
1.5 sq mi
ZIP Area
3,789
Density / Sq Mi
$61,748
Median Household Income
$42,103
Median Earnings
$1,034
Median Rent
$151,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two suites support medical, professional office, retail, food service, and other commercial configurations.
Where is this mixed-use property located?
The property is located at 132 Elm St Covington, KY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Two‑suite commercial building with flexible configuration; Suite includes FF&E for medical or professional office use; Second suite has an existing drive‑up window
