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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Individual retail properties
1650 Russell St Covington, KY 41011-3361
Entity Owned
2-yr Hold
Free & Clear
Property ID
US34-0279003
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1991
Total area
7,340 SF
Lot
1.23 ac (53,753 SF)
APN
055-13-02-013.01
UPID
US34-0279003
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
P Smythe Water Repairs Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Leadership Council of Human Services Executives Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.22M
Owner & transaction history
Housing Authority Of Covington · 2 yrs held
Housing Authority Of Covington
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Covington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,345,000
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$880,000
Change: 0% · Conversion: Difficult
RESTAURANT
$765,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±10% · vs last sale $1.14M (Dec 13 2023)
Last sale anchor
$1.14M
Dec 13 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,589
Tax year 2023
Assessed value
$795,000
Assessed 2023
Previous assessed
$795,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$100,000
Assessed improvement
$695,000
Land market value
$100,000
Improvement market value
$695,000
Total market value
$795,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1991
Heating
NONE
Total area
7,340 SF
Lot
1.23 ac (53,753 SF)
APN
055-13-02-013.01
UPID
US34-0279003
Jurisdiction
KENTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$880,000
RESTAURANT
Est. value
$765,000
MEDICAL BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Heating
NONE
Lot
1.23 ac
Current owner
From public records · entity-resolved
Housing Authority Of Covington
Entity
Free & Clear · 2 yrs held
Mailing address
2300 MADISON AVE, COVINGTON, KY 41014-1237
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2023
$1,140,000
Housing Authority Of Covington
Walton Medical Properties LLC
Warranty Deed
—
Apr 21, 2022
$795,000
Walton Medical Properties LLC
Transitions Incorporated
Deed
—
Apr 21, 2022
—
Transjtions Incorporated
Center For Great Neighborhoods Of C
Correction Deed
related
—
Sep 24, 2020
$974,690
Transitions INC
Kenton County Fiscal Court
Grant Deed
—
Aug 26, 2016
$735,000
Transitions INC
Covington Community Center INC
Warranty Deed
—
—
—
Center For Great Neighborhoods
—
Loan Modification
related
$150,000 · Pnc Bk
—
—
Covington Community Center INC
—
Deed Of Trust
related
$150,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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