Covington Warehouse with Flexible
140 W 38th St Covington, KY 41015
140 W 38th St, Covington, KY, 41015
Contact for pricing
For Sale
Contact for pricing
Pending
24,600 SF warehouse divisible into 18,000 and 6,600 SF.
Property Size24,600 SF
Days on Market704
Property Features for 140 W 38th St
General Information
- Standard status
- Pending
- Size
- 24,600 SF
- Property subtype
- Industrial
Listing Agency
CURO | BRKG
(513) 999-2876
Listed by
Josh Niederhelman · License #KY 206691
Source
Crexi
Added: Aug 16, 2024 Updated: Jul 6 at 8:28 am Checked: Jul 20 at 5:05 am
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 CURO | BRKG
Investment Insights
Based on property information with market context.
This 24,600 square foot warehouse offers flexible space, divisible into 18,000 and 6,600 square foot sections. The building features a 19-foot clear height. It includes one drive-in door measuring 20 feet wide by 16 feet tall, one measuring 12 feet by 12 feet, and another measuring 12 feet by 16 feet. There are also two platform docks. The column spacing is 34 feet by 20 feet, providing a clear span. Parking is available with 11 spaces. The property is heated by a gas unit.
Key Highlights
- Total square footage of 24,600, divisible into 18,000sf and 6,600sf.
- Benefit from a clear height of 19 feet.
- Three drive‑in doors: one 20’ wide x 16’ tall, one 12’ x 12’, and one 12’ x 16’.
Local Financial Insights For Industrial
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 | $191.9k | $7.80 |
| − Vacancy | −$11.1k | −$0.45 |
| EGI | $180.8k | $7.35 |
| − OpEx | −$54.2k | −$2.20 |
| NOI | $126.5k | $5.14 |
24,600 SF · lease $7.80/SF/yr · vacancy 5.80% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$2.01M
$1.76M – $2.35M
NOI $140,754 @ 7.0% cap · market cap 9.38%
Second Best
Industrial
$1.81M
$1.58M – $2.11M
NOI $126,526 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$6.35M
$5.56M – $7.41M
NOI $444,548 @ 7.0% cap · market cap 29.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Warehouse - 24,600 SF warehouse divisible into 18,000 and 6,600 SF.
Where is this warehouse located?
The property is located at 140 W 38th St Covington, KY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Total square footage of 24,600, divisible into 18,000sf and 6,600sf.; Benefit from a clear height of 19 feet.; Three drive‑in doors: one 20’ wide x 16’ tall, one 12’ x 12’, and one 12’ x 16’.
