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Property profile & analytics
OFF-MARKET
Office buildings
1840 Simon Kenton Way, Covington, KY 41011-3679
Individually Owned
2-yr Hold
Free & Clear
Property ID
US34-0690606
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1998
Lot
4.14 ac (180,338 SF)
APN
040-44-19-013.00
UPID
US34-0690606
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Commonwealth Of Kentucky · 2 yrs held
Commonwealth Of Kentucky
since 2023
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$24,139,500
Assessed 2023
Previous assessed
$24,139,500
+0.0% YoY
Assessed land
$1,240,000
Assessed improvement
$22,899,500
Land market value
$1,240,000
Improvement market value
$22,899,500
Total market value
$24,139,500
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1998
Heating
NONE
Lot
4.14 ac (180,338 SF)
APN
040-44-19-013.00
UPID
US34-0690606
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
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Lot
4.14 ac
Current owner
From public records · entity-resolved
Commonwealth Of Kentucky
Individual
Free & Clear · 2 yrs held
Mailing address
200 MERO ST, FRANKFORT, KY 40601-1920
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
Aug 29, 2023
—
Commonwealth Of Kentucky
County Of Kenton
Deed
—
Jul 1, 2020
—
County Of Kenton Kentucky
Commonwealth Of Ky
Quit Claim Deed
related
—
Jul 13, 2016
$4,500,000
County Of Kenton
Columbia Sussex Corp
Warranty Deed
—
Aug 13, 2010
—
Columbia Sussex Corp
—
Deed Of Trust
related
$19,225,150 · Huntington National Bank
Mar 6, 2008
—
Columbia Sussex Corp
Berger Andrew R
Grant Deed
related
—
Jan 15, 2008
$4,200,000
Berger Andrew R Tr
Covington Re LLC
Grant Deed
—
—
—
Columbia Sussex Corp
—
Deed Of Trust
related
$19,999,990 · Huntington National 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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