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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Retail space
2401 Madison Ave Covington, KY 41014-1665
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US34-0068753
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
7,000 SF
Lot
0.8 ac (34,970 SF)
APN
055-23-13-001.00
UPID
US34-0068753
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
-
Liquor Outlet (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
CoinGenie Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$904k
Blend (final)
Blend
$770k
Owner & transaction history
Kena Properties LLC · 5 yrs held
Kena Properties LLC
since 2021
Last sale
$735,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$920,000
+48.8%
Office building
$860,000
+38.8%
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
$755,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$620,000
Current use
RESTAURANT
$920,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$860,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$545,000
Change: -12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$545,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$515,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$770k
Range $693k – $847k · ±10% · vs last sale $735k (Jun 2 2021)
Last sale anchor
$735k
Jun 2 2021
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
$110 / 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
$9,857
Tax year 2023
Assessed value
$740,000
Assessed 2023
Previous assessed
$740,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$190,000
Assessed improvement
$550,000
Land market value
$190,000
Improvement market value
$550,000
Total market value
$740,000
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
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Heating
NONE
Total area
7,000 SF
Lot
0.8 ac (34,970 SF)
APN
055-23-13-001.00
UPID
US34-0068753
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
RETAIL STORES Current
Est. value
$620,000
RESTAURANT
Est. value
$920,000
OFFICE BUILDING
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$545,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$545,000
COMMERCIAL (GENERAL)
Est. value
$515,000
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2001
Heating
NONE
Lot
0.8 ac
Current owner
From public records · entity-resolved
Kena Properties LLC
Entity
Mailing address
303 RENN CT, LOUISVILLE, KY 40245-5320
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2021
$735,000
Kena Properties LLC
Jade Holdings LLC
Warranty Deed
$588,000 · Stock Yards Bank & Trust Co
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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