Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7585-7587 Empire Dr Florence, KY 41042
    Back to Search
    Property profile & analytics

    7585-7587 Empire Dr, Florence, KY 41042

    View on Map
    • Warehouses
    • 90,365 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 7585-7587 Empire Dr

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This expansive industrial warehouse, located at 7585-7587 Empire Drive in Florence, Kentucky, offers a significant 90,365 square feet of leasable space. Currently entirely vacant, this property presents a unique opportunity for a single tenant seeking a large-scale operation. The building boasts a substantial 28-foot ceiling height, providing ample vertical space for storage or high-volume operations. Six dock-high doors ensure efficient loading and unloading of goods. The property is zoned I-2 Heavy Industrial, allowing for a wide range of industrial uses. Power is readily available, with two separate service connections: 600 amps (277/480V) and 200 amps. Situated in Boone County, Kentucky, with a Florence address and zip code 41042, this location offers convenient access to major transportation routes. The property is ready for immediate occupancy. This is a multi-tenant building, but the entire space is currently available. This presents a rare opportunity to secure a large, well-equipped warehouse in a prime industrial location.

    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
    -84.6339
    Latitude
    38.9732

    Comparable in this City

    • Value Estimation by Request
      583,858 SF

      7050 New Buffington Rd

      Distribution properties
      7050 New Buffington Rd, Florence, KY 41042
      View Details
    • Value Estimation by Request
      12,000 SF

      Mount Zion Rd

      Life science properties
      0 Mount Zion Rd, Florence, KY 41042
      View Details
    • Value Estimation by Request
      583,858 SF

      7050 New Buffington Rd

      Distribution properties
      7050 New Buffington Rd, Florence, KY 41042
      View Details
    • Value Estimation by Request
      11,700 SF

      7745 Foundation Dr

      DISTRIBUTION WAREHOUSE
      7745 Foundation Dr, Florence, KY 41042-5839
      View Details
    • Value Estimation by Request
      3,680 SF

      7523 Sussex Dr

      MINI-WAREHOUSE, STORAGE
      7523 Sussex Dr, Florence, KY 41042-2203
      View Details
    • Value Estimation by Request
      15,600 SF

      8061 Production Dr

      WAREHOUSE, STORAGE
      8061 Production Dr, Florence, KY 41042-3046
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      225,560 SF

      Florence Warehouse Property for Sale

      225,560 SF warehouse/distribution property in Florence, Kentucky.
      7381 Empire Dr, Florence, KY 41042
      View Details
    • Contact for pricing
      123,769 SF

      Amazon Last Mile Facility KY

      Class A Distribution Center, NNN Lease
      7435 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      51,115 SF

      Industrial Space Near Airport

      Industrial property with easy highway access and visibility.
      7125 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing

      Industrial Office Flex Facility

      Industrial and office flex facility with heavy power, 3-ton bridge crane, and specialized hazmat and test space.
      7375 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      329,000 SF

      Florence Industrial Property with Cranes

      Crane-served industrial property with easy interstate access.
      7100 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      123,769 SF

      Amazon Distribution Facility For Sale

      Newly developed Amazon Last Mile Distribution Facility in Florence, Kentucky.
      7435 Industrial Rd, Florence, KY 41042
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      90,365 SF

      Industrial Space Near Major Interstates

      Industrial property with recent upgrades, close to I-75/I-71 and CVG.
      7585 Empire Dr, Florence, KY 41042
      View Details
    • Contact for pricing
      264,000 SF

      264,000 SF Industrial Facility

      Industrial facility featuring retail, office, and warehouse space for lease.
      5101 Renegade Way, Florence, KY 41042
      View Details
    • Contact for pricing
      3,000 SF

      Temperature Controlled Warehouse Space

      3,000 SF temperature controlled warehouse space for lease.
      4951-4999 Houston Rd, Florence, KY 41042
      View Details
    • Contact for pricing

      Industrial Space for Lease

      Industrial property available for lease in Florence, Kentucky.
      7090 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      270,000 SF

      270,000 SF Industrial Facility

      Industrial facility with heavy power, cranes, and convenient location.
      7375 Industrial Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      8,025 SF

      Florence, KY Flex Space

      Flex space with dock and drive-in doors available immediately.
      8054 Production Dr, Florence, KY 41042
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7585-7587 Empire Dr
    Florence, KY 41042
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7585-7587 Empire Dr, Florence, KY, 41042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!