2002 Madison Ave, Unit 14 Covington, KY 41014-1210
- Office buildings
- 10,476 SF
- 0.50 lot acres
Current Use by Public Records
- Kenton County Health Center / Medical Clinic / Public Health Department
Property Details for 2002 Madison Ave
- Year built
- 1990
- Lot size
- 0.50 lot acres
- Property size
- 10,476 SF
- Property type
- Office buildings
- APN
- 055-14-20-001.00
- APU
- 55142000100
Description
This exceptional 11,774 square foot, two-story Class C office building, situated on a 0.44-acre lot in Covington, Kentucky, presents a unique investment opportunity. Currently configured as a medical office building, it offers seamless adaptability for traditional office use. Located at a signalized intersection just outside Covington's bustling downtown retail area, the property boasts a convenient 30-space private parking lot. The building, constructed in 1990, is zoned GC and features a desirable NNN lease type with multi-tenancy. Its prime location offers easy access to I-71 and Downtown Cincinnati, benefiting from high visibility (nearly 20,000 vehicles per day on E. 20th Street). The property is part of Covington's thriving urban core, experiencing significant mixed-use development and expansion in the emerging Central Riverfront neighborhood. This area has garnered national recognition, including being named a "Best Place to Live" and receiving multiple 2024 Excellence in Economic Development Awards. Further enhancing its appeal are local grants supporting small businesses and start-ups. The property's proximity to MLK Drive provides direct access to I-71/75, SEHC, and the new NKHD, solidifying its strategic position within a rapidly growing and attractive market. The asking price is $1,100,000, translating to $93.43 per square foot. The property's APN is 055-14-20-001.00 and is offered as a 1031 exchange opportunity.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $780,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $765,000
- 6.5%
- $865,000
- 7%
- $830,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $860,000
- Geo Method
- $890,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $970,000
- Retail
- $915,000
- Mixed-Use
- $935,000
- Hospitality
- $870,000
- Educational
- $895,000
- Residential Income
- $755,000
- Energy
- $895,000
- Income-Based Land
- $715,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Covington
- County
- Kenton
- State
- Kentucky
- Longitude
- -84.5054
- Latitude
- 39.0667
- CBSA code
- 17140
- CBSA name
- CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA
