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    Property profile & analytics

    11 Spiral Dr Florence, KY 41042-4845

    • Office buildings
    • 32,024 SF
    • 3.03 lot acres
    OFF-MARKET
    Value Estimations
    $3,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0512997
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lincare / Production Facility
    • MARUKA USA INC / Big Box & Wholesale Store
    • GAI Consultants, Inc. / Engineering Consultant
    • Force Communications & Consultants / Consultant
    • DaVita Turfway PD Training / Medical Clinic

    Property Details for 11 Spiral Dr

    Year built
    1988
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.03 lot acres
    Property size
    32,024 SF
    Property type
    Office buildings
    APN
    061.00-11-011.02
    APU
    61001101102

    Description

    This exceptional single-tenant property at 11 Spiral Drive in Florence, Kentucky, offers 1,625 square feet of versatile space, ideal for businesses needing both office and warehouse functionality. Located in the vibrant city of Florence, KY, 41042, this property boasts a highly convenient location, just 0.6 miles from the I-71/I-75 interchange, providing easy access to major transportation routes and significantly reducing commute times for employees and clients. The property's classification as both office and industrial space allows for a flexible layout to accommodate a variety of business needs. The building's total square footage is not currently specified, but the available space is entirely vacant and ready for immediate occupancy. This presents a unique opportunity for a business seeking a well-situated, functional space to establish or expand its operations. The property's address is 11 Spiral Dr, Florence, KY 41042, and its geographic coordinates are 39.0184398 latitude and -84.6406368 longitude. Given its proximity to major highways and the readily available space, this property represents a compelling investment opportunity for businesses seeking a strategic location in the Florence, Kentucky area. The single-tenant occupancy ensures a streamlined and efficient operational environment. The property is ready for immediate move-in. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,904,000
      Market price range: $2.71M - $5.97M
      AI Estimate
      $2,829,000
      Market price range: $1.33M - $6.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,245,000
      Current use
      WAREHOUSE, STORAGE
      $4,025,000
      Change: -5% Conversion: Difficult
      RETAIL STORES
      $3,935,000
      Change: -7% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6407
    Latitude
    39.0185
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $19,535
    $326,000
    $1,674,000
    $2,000,000
    -
    $326,000
    $1,674,000
    $2,000,000

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

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    • Value Estimation
      $3,685,000
      21,493 SF

      47 Cavalier Blvd

      OFFICE BUILDING • 21,493 SF
      47 Cavalier Blvd, Florence, KY 41042-3969
      View Details
    • Value Estimation by Request
      2,952 SF

      245 Main St

      OFFICE BUILDING • 2,952 SF
      245 Main St, Florence, KY 41042-2027
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      6601 Dixie Hwy

      OFFICE BUILDING
      6601 Dixie Hwy, Florence, KY 41042-2105
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      11 Girard St

      OFFICE BUILDING • 3,186 SF
      11 Girard St, Florence, KY 41042-2667
      View Details
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      7134 Price Pike

      OFFICE BUILDING
      7134 Price Pike, Florence, KY 41042-1666
      View Details

    Similar Nearby for Sale

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      Medical Office Space For Sale

      Medical office space with ample parking and convenient highway access.
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      Florence Office Building - High ROI

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    Similar Nearby for Lease

    • Contact for pricing
      5,862 SF

      Multi-Tenant Office Building For Rent

      Three-story office building with shared amenities and abundant parking.
      7900 Tanners Gate Ln, Florence, KY 41042
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      Office Building in Florence, Kentucky

      Office building with visibility from I-71/75 in Florence, Kentucky.
      Florence, KY 41042
      View Details
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      8,967 SF

      Florence Office Building For Lease

      Multi-tenant office building with I-71/75 access in Florence, KY.
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      View Details
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      Flexible Office Suites For Lease

      Office park with suites from 874 to 22,000+ sqft.
      7300-7310 Turfway Rd, Florence, KY 41042
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    • Contact for pricing
      47,992 SF

      Office Building on Houston Road

      Office building for rent with visibility from I-71/75.
      4600 Houston Rd, Florence, KY 41042
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    • $1,550 /Mo
      82,764 SF

      Renovated Office Suites Available

      Small office suites for rent with utilities included.
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      View Details
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    Florence, KY 41042-4845
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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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