Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1671 Park Rd Covington, KY 41011-2769

    • Commercial real estate
    • 30,000 SF
    • 2.90 lot acres
    OFF-MARKET
    Value Estimations
    $3,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0283104
    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

    • Phillips Dental Lab / Dental Laboratory
    • Hand in Hand Realty / Real Estate Agent
    • Holistic Veterinary Care / Veterinarian
    • Berling Michael J DDS / Dentist
    • Crienest Rebecca / Dentist

    Property Details for 1671 Park Rd

    Year built
    1987
    Lot size
    2.90 lot acres
    Property size
    30,000 SF
    Property type
    Commercial real estate
    APN
    041-20-00-138.00
    APU
    41200013800

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,175,000
      6.5%
      $4,775,000
      7%
      $4,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,413,000
      Market price range: $1.01M - $3.41M
      AI Estimate
      $2,911,000
      Market price range: $810k - $2.96M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,380,000
      Current use
      RESTAURANT
      $3,945,000
      Change: +66% Conversion: Difficult
      OFFICE BUILDING
      $3,140,000
      Change: +32% Conversion: Easy
      RETAIL STORES
      $2,645,000
      Change: +11% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,445,000
      Change: +3% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,340,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5413
    Latitude
    39.0622
    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
    $26,224
    $360,000
    $2,100,000
    $2,460,000
    -
    $360,000
    $2,100,000
    $2,460,000

    Comparable in this City

    • Value Estimation
      $10,780,000
      87,000 SF

      630 Madison Ave, Unit 638

      COMMERCIAL (GENERAL) • 87,000 SF
      630 Madison Ave, Covington, KY 41011-2422
      View Details
    • Value Estimation
      $15,270,000
      123,225 SF

      50 11th St

      COMMERCIAL (GENERAL) • 123,225 SF
      50 11th St, Covington, KY 41011-3161
      View Details
    • Value Estimation
      $1,105,000
      27,798 SF

      702 Madison Ave, Unit 10

      COMMERCIAL (GENERAL) • 27,798 SF
      702 Madison Ave, Covington, KY 41011-2412
      View Details
    • Value Estimation
      $31,720,000
      256,000 SF

      10 Rivercenter Blvd

      COMMERCIAL (GENERAL) • 256,000 SF
      10 Rivercenter Blvd, Covington, KY 41011-1463
      View Details
    • Value Estimation
      $31,520,000
      254,366 SF

      100 Rivercenter Blvd

      COMMERCIAL (GENERAL) • 254,366 SF
      100 Rivercenter Blvd, Covington, KY 41011-1555
      View Details
    • Value Estimation
      $35,960,000
      290,233 SF

      50 Rivercenter Blvd

      COMMERCIAL (GENERAL) • 290,233 SF
      50 Rivercenter Blvd, Covington, KY 41011-1655
      View Details

    Similar Nearby for Sale

    • $540,000
      0.07 Acres

      Madison Avenue Mixed-Use Investment

      Covington gem: Sushi bar & rehab potential.
      508 Madison Ave, Covington, KY 41011
      View Details
    • $35,000

      City-View Residential Lot

      Vacant lot with panoramic city views in Covington, KY.
      846 Western Ave, Covington, KY 41011
      View Details
    • Contact for pricing
      0.09 Acres

      Vacant Lot in Lewisburg Neighborhood

      Vacant lot in Covington's CMU zone with many possibilities.
      664 W Pike St, Covington, KY 41011
      View Details
    • $37,200

      Covington, KY City-View Lot

      Vacant residential lot with panoramic city views.
      852 Western Ave, Covington, KY 41011
      View Details
    • $455,000
      2,852 SF

      Covington Multifamily Property on Double Lot

      Well-maintained 5-unit property near Roebling Point with ample parking.
      1333 Scott St, Covington, KY 41011
      View Details
    • $395,000
      2,633 SF

      Covington Multifamily Investment Opportunity

      Cash-flowing 5-unit property in historic Madison Avenue location.
      1451 Madison Ave, Covington, KY 41011
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      3,300 SF

      Renovated Urban Office Space

      3300 SF Covington office space with parking.
      722 Scott St Unit, Covington, KY 41011
      View Details
    • $19 SF/Yr
      58,878 SF

      Wright's Summit III Executive Suites

      Prestigious Office Space, Kenton County
      810 Smt Pkwy, Fort Wright, KY 41011
      View Details
    • Contact for pricing
      8,941 SF

      Premier Office Space in Covington

      Iconic RiverCenter complex offering unparalleled convenience and quality service.
      100 E Rivercenter Blvd, Covington, KY 41011
      View Details
    • $1,200 /Mo
      Pending

      Remodeled Salon/Studio Space in Covington

      Remodeled salon/studio in Covington's Lewisburg Historic District.
      717 W Pike St, Covington, KY 41011
      View Details
    • $6 SF/Yr
      22,080 SF

      Covington Warehouse with Secure Parking

      Warehouse space with drive-through and secure parking in Covington.
      1116 Russell St, Covington, KY 41011
      View Details
    • Contact for pricing
      11,293 SF

      Office Space Near Downtown Cincinnati

      Office buildings with signage and conference room, near downtown.
      1881 Dixie Hwy, Ft Wright, 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.
    1671 Park Rd
    Covington, KY 41011-2769
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.