Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    121 4th St Covington, KY 41011-1752
    Back to Search
    Property profile & analytics

    121 4th St Covington, KY 41011-1752

    View on Map
    • Office buildings
    • 2,024 SF
    • 0.09 lot acres
    Off-Market
    Last Sale Jun 14, 2023
    Property ID
    US34-0318156
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CURO MGMT / Property Management Company
    • CURŌ • BRKG / Real Estate Agency
    • CURO / Property Management Company / Commercial Real Estate Agency
    • COVCOR / Construction Company / General Contractor

    Property Details for 121 4th St

    Year built
    1901
    Lot size
    0.09 lot acres
    Property size
    2,024 SF
    Property type
    Office buildings
    APN
    054-23-11-008.00
    APU
    54231100800

    Description

    This exceptional 10,000-square-foot office building at 121 E 4th Street in Covington, Kentucky, presents a unique opportunity for a single tenant. Situated in a vibrant, walkable location adjacent to Covington Yard, this historic two-story building offers a blend of traditional and creative office space. The property boasts 11 rooms/offices, providing ample space for various business needs. The building includes two full bathrooms and three half bathrooms, ensuring convenience for employees and clients. Ten off-street parking spaces are available, a significant advantage in this desirable area. The building is currently vacant and ready for immediate occupancy, allowing a new tenant to customize the space to perfectly suit their requirements. This prime location offers unparalleled access to the area's thriving creative scene and exceptional walkability, making it an ideal choice for businesses seeking a dynamic and convenient work environment. The property is classified as Office, Special Purpose, and encompasses a total of 10,000 square feet across one building. There are no elevators. The zip code is 41011.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5082
    Latitude
    39.0871
    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
    $3,330
    $72,500
    $177,500
    $250,000
    -
    $72,500
    $177,500
    $250,000

    Comparable in this City

    • Value Estimation by Request
      3,876 SF

      1016 Greenup St

      OFFICE BUILDING • 3,876 SF
      1016 Greenup St, Covington, KY 41011-3214
      View Details
    • Value Estimation
      $1,045,000
      9,555 SF

      902-26 Willow Run

      OFFICE BUILDING • 9,555 SF
      902-26 Willow Run, Covington, KY 41011
      View Details
    • Value Estimation
      $1,095,000
      9,444 SF

      333 Madison Ave

      OFFICE BUILDING • 9,444 SF
      333 Madison Ave, Covington, KY 41011-1517
      View Details
    • Value Estimation
      $835,000
      9,270 SF

      421 Madison Ave, Unit 23

      OFFICE BUILDING (MULTI-STORY) • 9,270 SF
      421 Madison Ave, Covington, KY 41011-1519
      View Details
    • Value Estimation by Request
      5,148 SF

      314 Greenup St

      OFFICE BUILDING • 5,148 SF
      314 Greenup St, Covington, KY 41011-1712
      View Details
    • Value Estimation by Request
      1,703 SF

      524 Greenup St

      OFFICE BUILDING • 1,703 SF
      524 Greenup St, Covington, KY 41011-2522
      View Details

    Similar Nearby for Sale

    • $989,000
      9,000 SF

      Historic Morgan Building For Sale

      9,000 SF, three-story building with parking in Covington, KY.
      421 Madison Ave, Covington, KY 41011
      View Details
    • $1,250,000

      Freestanding Dollar Tree Investment Property

      Single tenant Dollar Tree in Covington, KY for sale.
      1026 Madison Ave, Covington, KY 41011
      View Details
    • $649,900
      0.05 Acres

      Renovated Triplex with Development Potential

      Renovated triplex with vacant lot in Covington, Kentucky.
      501 Johnson St, Covington, KY 41011
      View Details
    • Contact for pricing
      4,118 SF

      Retail/Office Space in Kenton County

      4,118 SF grey shell retail/office space for sale.
      729 Scott St, Covington, KY 41011
      View Details
    • Contact for pricing
      37,457 SF

      Covington Strip Center Investment Opportunity

      Fully stabilized retail center with long-term tenants and growth potential.
      1616 Madison Ave, Covington, KY 41011
      View Details
    • $540,000

      Two-Story Commercial Investment Opportunity

      Two-story commercial property with first-floor restaurant and rehab potential.
      508 Madison Ave, Covington, KY 41011
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      287 SF

      Office Building Near Downtown Cincinnati

      Office space with building signage and conference room access.
      1885 Dixie Hwy, Ft Wright, KY 41011
      View Details
    • $17 SF/Yr
      287 SF

      Office Space Near Downtown Cincinnati

      Office buildings with signage and conference room, near downtown.
      1881 Dixie Hwy, Ft Wright, KY 41011
      View Details
    • Contact for pricing
      2,785 SF

      Class A Office Building For Rent

      3-story Class A office building with easy highway access.
      809 Wright's Smt Pkwy, Fort Wright, KY 41011
      View Details
    • Contact for pricing

      Office Space with Rooftop Access

      Second-floor office space with rooftop terrace access available for rent.
      434 Scott St, Covington, KY 41011
      View Details
    • Contact for pricing
      2,768 SF

      Medical Office Space Available

      First generation medical office space at St. Elizabeth Covington Hospital.
      1500 James Simpson Jr Way, Covington, KY 41011
      View Details
    • Contact for pricing
      3,555 SF

      Premier Office Space in Covington

      Iconic RiverCenter complex offering unparalleled convenience and quality service.
      100 E Rivercenter Blvd, Covington, KY 41011
      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.
    121 4th St
    Covington, KY 41011-1752
    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
    121 4th St, Covington, KY, 41011
    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!