Historic Office Building with Multiple Private
New
For Sale
$995,000
411 Garrard Street, Covington, KY 41011
Victorian office building configured for professional use with multiple offices, conference rooms, and a full lower level.
Property Size4,900 SF
Price / SF$203.06
Days on Market2
Property Features for 411 Garrard Street
General Information
Standard status
Active
Size
4,900 SF
Total Parking Spaces
10
Property subtype
Commercial
Amenities
gym
Building Details
Building Size
4,904 SF
Year Built
1885
Year Renovated
2019
Buildings
1
Stories
4
Construction
Victorian
Tenancy
Single
Listing Agency:
Comey & Shepherd, LLC
(513) 561-5800
Listed By:
Rogier Slingerland
(513) 561-5800
Source:
Bushrealty
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 5:15AM
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 Comey & Shepherd, LLC
Investment Insights
Based on property information with market context.
Historic Daniel McNamara Mansion (circa 1885) offering approximately 4,900 SF of well-maintained space in Covington’s historic district. The property is currently configured for professional use by a marketing agency, with about 12 private offices and four conference rooms distributed across three finished levels, plus a full lower level.
The main floor includes 11+ ceilings, multiple offices, meeting and break rooms, a kitchenette, and a restroom. The second floor offers four offices, a restroom, and 10' ceilings. The third floor includes a full kitchen, a restroom, and three private offices. The lower level adds a full kitchen, a gym with shower, a restroom, and additional office space.
Updates include HVAC, windows, doors, and access controls in 2019. A private lot provides 10 parking spaces and multiple access points, supporting single-tenant or multi-tenant use, along with flexible options for future conversion.
The main floor includes 11+ ceilings, multiple offices, meeting and break rooms, a kitchenette, and a restroom. The second floor offers four offices, a restroom, and 10' ceilings. The third floor includes a full kitchen, a restroom, and three private offices. The lower level adds a full kitchen, a gym with shower, a restroom, and additional office space.
Updates include HVAC, windows, doors, and access controls in 2019. A private lot provides 10 parking spaces and multiple access points, supporting single-tenant or multi-tenant use, along with flexible options for future conversion.
Key Highlights
- Approximately 4,900 SF historic mansion configured for professional office use
- About 12 private offices plus four conference rooms across three finished levels
- Main floor features 11+ ceilings; second floor has 10' ceilings
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.2k | $20.04 |
| − Vacancy | −$13.0k | −$2.65 |
| EGI | $85.2k | $17.39 |
| − OpEx | −$21.3k | −$4.35 |
| NOI | $63.9k | $13.05 |
4,900 SF · lease $20.04/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$913.2K
$799.1K – $1.07M
NOI $63,926 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,548 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 41011, KY
26,470
Population
14,490
Households
1.8
Avg Household Size
37
Median Age
44%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
3,781
Density / Sq Mi
$67,075
Median Household Income
$47,192
Median Earnings
$1,011
Median Rent
$269,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Victorian office building configured for professional use with multiple offices, conference rooms, and a full lower level.
Where is this office building located?
The property is located at 411 Garrard Street Covington, KY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Approximately 4,900 SF historic mansion configured for professional office use; About 12 private offices plus four conference rooms across three finished levels; Main floor features 11+ ceilings; second floor has 10' ceilings
