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    1700 Petersburg Rd Hebron, KY 41048-8400
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    Property profile & analytics

    1700 Petersburg Rd, Hebron, KY 41048-8400

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    • Commercial real estate
    • 14,700 SF
    Off-Market
    Last Sale Sep 27, 2024
    $2,375,000
    Property ID
    US34-0738385
    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
    $2,375,000
    Show details
    Cap Rate Potential
    5.8%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1700 Petersburg Rd

    Year built
    2013
    Property type
    Commercial real estate
    APN
    047.00-04-011.00
    APU
    47000401100

    Description

    This exceptional 19,000-square-foot property, located at 1700 Petersburg Road in Hebron, Kentucky, presents a unique opportunity for a single tenant. Situated on a generous 2.96-acre lot, this building offers a blend of executive office space and warehouse functionality, ideal for a business requiring both. Built in 1988, the property is currently entirely vacant, providing immediate occupancy for the right tenant. The building boasts ample parking with 60 spaces available, ensuring convenient access for employees and clients. The property is zoned I-1 Industrial, allowing for a variety of uses within the zoning regulations. The building features three-phase power, essential for many industrial operations. The address is 1700 Petersburg Rd, Hebron, KY 41048, within Boone County. This single-tenant occupancy building offers significant space and flexibility, making it an attractive option for businesses seeking a prominent location in a thriving area. The entire 19,000 square feet is available for lease, providing a substantial footprint for operations and growth. The combination of office and warehouse space, along with the ample parking and convenient location, makes this property a highly desirable asset. Interested parties are encouraged to inquire for further details and leasing information.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,375,000
      ML approach
      $2,375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,280,000
      6.5%
      $2,105,000
      7%
      $1,955,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,540,000
      Current use
      RESTAURANT
      $3,700,000
      Change: +46% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hebron
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6931
    Latitude
    39.0671
    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
    $18,231
    $125,000
    $1,575,000
    $1,700,000
    -
    $125,000
    $1,575,000
    $1,700,000

    Comparable in this City

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      163,488 SF

      2300 Litton Ln

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    • Value Estimation
      $1,870,000
      7.88 Acres

      2375 Park Dr

      COMMERCIAL (GENERAL)
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    • Value Estimation
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      1684 Petersburg Rd

      COMMERCIAL (GENERAL)
      1684 Petersburg Rd, Hebron, KY 41048-8504
      View Details

    Similar Nearby for Sale

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      Hebron Retail/Restaurant Opportunity

      Turn-key retail or restaurant building with high-visibility location.
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      Land For Sale

      Land available for sale.
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      Prime Commercial Land Opportunity

      3.5 acres of commercial land in a high-traffic area.
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      Commercial Property in Hebron, Kentucky

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      Flexible Workspace Solutions Available

      Global network of workspaces with flexible terms and locations.
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      Prime Commercial Land For Lease

      3.5 acres of vacant land available for build-to-suit.
      1965 Petersburg Rd, Hebron, KY 41048
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      176,000 SF

      Hebron Warehouse with Spec Office

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      Erlanger Office Space For Rent

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      56,792 SF

      Hebron Industrial Space Available

      Industrial property available for lease in Hebron, Kentucky.
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      View Details
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    Hebron, KY 41048-8400
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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.

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