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    3905 Winston Ave Covington, KY 41015
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    3905 Winston Ave, Covington, KY 41015

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    • Retail properties & Spaces
    • 116,840 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Big Lots / Discount Store

    Property Details for 3905 Winston Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Industrial properties

    Description

    This exceptional 116,840 square foot flex space property, located at 3905 Winston Ave in Kenton County, presents a unique leasing opportunity. The building features a single story design with impressive 20-foot ceilings, providing ample vertical space for a variety of uses. Currently, 30,000 square feet of retail space is immediately available for lease, perfect for businesses requiring significant space and flexibility. The property boasts convenient features including two loading docks and one drive-in bay, ensuring efficient loading and unloading operations. The TUMU zoning designation offers versatility for various business types. Ample parking is available on-site for employees and customers. The property benefits from on-site property management, providing responsive and efficient building maintenance and support. A tenant improvement allowance is available to help customize the space to meet specific business needs. The location offers significant advantages, with a high population density within a one-hour radius, ensuring access to a large potential customer base. This property is ideal for businesses seeking a functional, well-located, and adaptable space to thrive. Contact us today to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5056
    Latitude
    39.0456

    Comparable in this City

    • Value Estimation by Request
      6,578 SF

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    • Value Estimation by Request
      36,292 SF

      4303-4387 Winston Ave

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    • Value Estimation by Request
      105.00 Acres

      5012 Sandman Dr

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      44.43 Acres

      4891 Pride Pkwy

      NURSERY, GREENHOUSE, FLORIST
      4891 Pride Pkwy, Latonia, KY 41015
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    • Value Estimation by Request
      3,699 SF

      6129 Taylor Ml Rd

      NURSERY, GREENHOUSE, FLORIST
      6129 Taylor Ml Rd, Covington, KY 41015-2453
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    • Value Estimation by Request
      0.75 Acres

      3835 Winston Ave

      Lifestyle centers
      3835 Winston Ave, Covington, KY 41015
      View Details

    Similar Nearby for Sale

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      6,578 SF

      Covington Warehouse with 16' Clearance

      6,578 SF warehouse with 1 drive-in door.
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      24,600 SF

      Covington Warehouse with Flexible Space

      24,600 SF warehouse divisible into 18,000 and 6,600 SF.
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    • $525,000
      6,600 SF

      Covington Commercial Warehouse For Sale

      6,600 SF commercial warehouse in the heart of Covington.
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      Retail Space on Winston Avenue

      Commercial property in Northern Kentucky, ready for immediate operation.
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      Retail Building on Corner Lot

      14,820 SF retail building on 2.26 acres for sale.
      4299 Winston Ave, Covington, KY 41015
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      Covington Drive-In Style Building

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    Similar Nearby for Lease

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      306,560 SF

      Industrial Space Near I-75/I-71

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      18,789 SF

      Modern Warehouse in Fort Wright

      18,789 SF warehouse space available for immediate occupancy.
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      Taylor Mill Shopping Center Space

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      1,688 SF

      Retail Space in Latonia Centre

      Retail spaces available in Covington, KY, community center.
      4303-4387 Winston Ave, Covington, KY 41015
      View Details
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    Covington, KY 41015
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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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