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    2028 Florence Mall Florence, KY 41042
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    Property profile & analytics

    2028 Florence Mall Florence, KY 41042

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    • Shopping malls
    • 963,727 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Maurices / Clothing & Fashion Store
    • Funke Fusion / Clothing Store / Women'S Clothing Store
    • Bath & Body Works / Cosmetic Store
    • LJC Jewelers / (Bike/Boat/Book/etc) Store
    • Rally House Florence / (Bike/Boat/Book/etc) Store

    Property Details for 2028 Florence Mall

    Property size
    963,727 SF
    Property type
    Shopping malls
    Property subtype
    Retail properties & Spaces

    Description

    The Florence Mall, located at 2028 Florence Mall, Florence, KY 41042, presents a significant retail opportunity in Boone County. This established shopping mall offers a total of 963,727 square feet of retail space, with a substantial 228,802 square feet currently vacant and available for lease. The property is categorized as both retail and land, encompassing a shopping mall and outparcel options. Multiple tenancy is available, providing flexibility for various business needs. Spaces range from a minimum divisible size of 777 square feet to a maximum contiguous space of 154,305 square feet, catering to a wide spectrum of retail concepts. This prime location provides excellent visibility and accessibility for businesses seeking to establish or expand their presence in the thriving Florence market. The property's substantial size and diverse leasing options make it an ideal investment for businesses seeking a prominent retail location in Kentucky. With 47 spaces currently available, this presents a unique opportunity to secure a space within a well-established and highly visible shopping center. The property's strategic location in Boone County offers easy access to major transportation routes and a strong customer base. Interested parties are encouraged to inquire about the available spaces and leasing terms.

    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
    -84.6506
    Latitude
    38.9957

    Comparable in this City

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      92,764 SF

      7600 Mall Rd

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      0.70 Acres

      7681 Burlington Pike

      Land • 0.70 Acres
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      1.36 Acres

      1100 Bill Wentz Dr

      Retail properties & Spaces • 1.36 Acres
      1100 Bill Wentz Dr, Florence, KY 41042
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      $15,700,000
      203,091 SF

      7625 Doering Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 203,091 SF
      7625 Doering Dr, Florence, KY 41042-4211
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    • Value Estimation by Request
      1.03 Acres

      7631 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 1.03 Acres
      7631 Dixie Hwy, Florence, KY 41042-2614
      View Details
    • Value Estimation by Request
      5,600 SF

      10360 Dixie Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 5,600 SF
      10360 Dixie Hwy, Florence, KY 41042-3369
      View Details

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      Land Available For Sale

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      Retail Space Near Florence Mall

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      Florence Mall Retail Opportunity

      Retail spaces available for lease in Florence Mall.
      2028 Florence Mall, Florence, KY 41042
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      Retail space available for lease in Florence, Kentucky.
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      Retail Space For Lease

      Retail space available in high-traffic commercial area.
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      4,000 SF

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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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