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    Freedom Way & Safeway Dr Florence, KY 41042

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    Freedom Way & Safeway Dr Florence, KY 41042

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    • Land
    • 1.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Freedom Way & Safeway Dr

    Lot size
    1.50 lot acres
    Property type
    Land

    Description

    This exceptional 1.5-acre parcel of land presents a unique investment opportunity in the thriving city of Florence, Kentucky. Located at the intersection of Freedom Way and Safeway Drive, this property boasts a highly desirable C-3/PD/PO zoning classification, opening doors to a wide range of commercial development possibilities. The site itself is remarkably level, simplifying construction and minimizing site preparation costs. Its strategic location offers unparalleled convenience and visibility, situated directly adjacent to the Florence Y'all's Ballpark, a popular community landmark that draws significant foot traffic and attention. A preliminary concept development plan is available for review, providing a potential framework for future development. This plan, while not binding, offers valuable insight into the property's potential and can serve as a starting point for prospective buyers. The property's 1.5-acre size provides ample space for a variety of commercial ventures, from retail establishments to office spaces or mixed-use developments. With its prime location, flexible zoning, and level topography, this land parcel represents a compelling investment opportunity in a rapidly growing area of Northern Kentucky. The 41042 zip code offers easy access to major transportation arteries, further enhancing its appeal to potential developers and investors. Don't miss this chance to acquire a highly sought-after piece of commercial real estate in Boone County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6375
    Latitude
    38.9857

    Comparable in this City

    • Value Estimation by Request
      9.72 Acres

      Weaver Rd

      Land • 9.72 Acres
      0 Weaver Rd, Florence, KY 41042
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      963,727 SF

      2028 Florence Mall

      Shopping malls • 963,727 SF
      2028 Florence Mall, Florence, KY 41042
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      1.50 Acres

      Freedom Way

      Land • 1.50 Acres
      0 Freedom Way, Florence, KY 41042
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    • Value Estimation by Request
      13.59 Acres

      10216 Sherwood Lakes Dr

      Land • 13.59 Acres
      10216 Sherwood Lakes Dr, Florence, KY 41042
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      1.00 Acre

      12 Acres Contiguous

      Land • 1.00 Acre
      12 Acres Contiguous, Florence, KY 41042
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      3.24 Acres

      Oakbrook Dr

      Land • 3.24 Acres
      0 Oakbrook Dr, Florence, KY 41042
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      Land Available For Sale

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      Us Highway 42, Florence, KY 41042
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      Land Parcels Available For Sale

      Land parcels ranging from 1 to 12 acres available.
      12 Acres Contiguous, Florence, KY 41042
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      Prime Land in Florence, KY

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      1.68 Acres on Burlington Pike

      1.68 acres of commercial land ready for development.
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    Similar Nearby for Lease

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      Land For Rent Florence

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      Retail Pad Site Available

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      Florence Mall Retail Opportunity

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      Commercial Land For Rent

      Commercial land available for rent in Florence, Kentucky.
      8761 Us Highway 42 S, Florence, KY 41042
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      Prime Retail Build-to-Suit Opportunity

      High-visibility location for QSR, drive-thru, or auto-service users.
      Mount Zion Rd, Florence, KY 41042
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    Florence, KY 41042
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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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