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    4303-4387 Winston Ave Covington, KY 41015
    Property profile & analytics

    4303-4387 Winston Ave, Covington, KY 41015

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    • Neighborhood centers
    • 36,292 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 4303-4387 Winston Ave

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Latonia Centre, a Class A retail strip center in Covington, Kentucky, presents a unique investment opportunity. This 36,292 square foot property is currently 100% vacant and offers flexible space options ranging from a minimum of 1,600 square feet to a maximum contiguous space of 24,692 square feet. Located at 4303-4387 Winston Ave, Covington, KY 41015, this multi-tenant center benefits from a high-traffic location with 16,498 vehicles passing daily on Winston Avenue. The property boasts strong co-tenancy with established national retailers including Kroger, CVS, and Dollar Tree, ensuring high visibility and foot traffic for potential tenants. Furthermore, the property's strategic location is enhanced by the ongoing development of a $7 million modern workspace by CovTech Investments on an adjacent property, promising increased activity and potential synergy. This presents a rare chance to secure a significant retail presence in a thriving Kenton County community. The property is classified as a Class A building, reflecting its high quality and desirable features. Interested parties should inquire about available space and lease terms.

    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
    -84.5079
    Latitude
    39.0403

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      105.00 Acres

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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
      116,840 SF

      3905 Winston Ave

      Flex space
      3905 Winston Ave, Covington, 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
      0.13 Acres

      10 Inez St

      PARKING LOT
      10 Inez St, Covington, KY 41015-1444
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      Retail Building on Corner Lot

      14,820 SF retail building on 2.26 acres for sale.
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      Covington Drive-In Style Building

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      Taylor Mill Medical Office Building

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      2.15 Acre Commercial Outlot

      2.15 acre commercial outlot with flexible site configuration.
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      Taylor Mill Retail Corridor Land

      Land in growing commercial corridor near I-275 interchange.
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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
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      18,789 SF

      Modern Warehouse in Fort Wright

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      306,560 SF

      Industrial Space Near I-75/I-71

      306,560 SF industrial space with easy highway access.
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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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