Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1423 Boone Aire Rd Florence, KY 41042-1157
    Back to Search
    Property profile & analytics

    1423 Boone Aire Rd, Florence, KY 41042-1157

    View on Map
    • Golf courses & driving ranges
    • 1,999 SF
    • 0.47 lot acres
    Off-Market
    Last Sale May 2, 2024
    $325,000
    Property ID
    US34-0433905
    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

    • Golf courses & driving ranges

    Property Details for 1423 Boone Aire Rd

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.47 lot acres
    Property type
    Golf courses & driving ranges
    APN
    049.00-08-007.01
    APU
    49000800701

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 2, 2024 $325,000 Laurie Ann Vadnais Peggy O'kennedy Deed —
    Jul 6, 2006 $252,000 Peggy O'kennedy William F Pierce Warranty Deed $202k · Guardian Savings Bank Fsb

    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
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6747
    Latitude
    39.012
    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
    $3,553
    $40,000
    $272,500
    $312,500
    -
    $40,000
    $272,500
    $312,500

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      1305 Boone Aire Rd, Unit 12

      COUNTRY CLUB
      1305 Boone Aire Rd, Florence, KY 41042-7085
      View Details
    • Value Estimation by Request
      0.01 Acres

      1301 Boone Aire Rd, Unit 9

      COUNTRY CLUB
      1301 Boone Aire Rd, Florence, KY 41042-7086
      View Details
    • Value Estimation by Request
      988 SF

      1301 Boone Aire Rd, Unit 2

      COUNTRY CLUB
      1301 Boone Aire Rd, Florence, KY 41042-7086
      View Details
    • Value Estimation by Request
      988 SF

      1307 Boone Aire Rd, Unit 8

      COUNTRY CLUB
      1307 Boone Aire Rd, Florence, KY 41042-7084
      View Details
    • Value Estimation by Request
      0.01 Acres

      1301 Boone Aire Rd, Unit 18

      COUNTRY CLUB
      1301 Boone Aire Rd, Florence, KY 41042-7086
      View Details
    • Value Estimation by Request
      0.01 Acres

      1307 Boone Aire Rd, Unit 23

      COUNTRY CLUB
      1307 Boone Aire Rd, Florence, KY 41042-7084
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      583,858 SF

      Premier Industrial Park Location

      Located in established industrial park with tax abatement.
      7050 New Buffington Rd, Florence, KY 41042
      View Details
    • Contact for pricing

      1.53 Acre Commercial Land Parcel

      1.53 acre commercial land parcel on Dixie Highway.
      10295 Dixie Hwy, Florence, KY 41042
      View Details
    • $2,300,000

      Florence KY Office Building Investment

      Well-maintained office building with high tenant capacity in Florence, KY.
      7426 Us Highway 42, Florence, KY 41042
      View Details
    • $131,500
      950 SF

      Professional Office Condo For Sale

      Professional office condo with open layout, natural light, and prime location.
      6900 Houston Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      3,297 SF

      Former Bank Building on Dixie

      Former bank building for sale in Florence, Kentucky.
      6890 Dixie Hwy, Florence, KY 41042
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Houston Road

      High-visibility retail space in a busy commercial area.
      55 Spiral Dr, Florence, KY 41042
      View Details
    • 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
      154,305 SF

      Retail Space in Florence, KY

      Retail property with high visibility in Florence, Kentucky.
      3000 Mall Rd, Florence, KY 41042
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      18,095 SF of retail space available.
      7606 Mall 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
      23,936 SF

      Retail Space in Florence, KY

      Retail space available for lease in Florence, Kentucky.
      83-87 Spiral 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.
    1423 Boone Aire Rd
    Florence, KY 41042-1157
    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
    1423 Boone Aire Rd, 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!