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Property profile & analytics
OFF-MARKET
Estimated value
$7,155,000
Parking lots & garages
2477 Royal Dr, Ft Mitchell, KY 41017
Entity Owned
1-yr Hold
Free & Clear
Property ID
US34-0225613
Property summary
AI-generated overview
This exceptional 10-acre parcel, located at 2477 Royal Drive in Fort Mitchell, Kentucky, presents a rare opportunity for retail and restaurant development. Zoned commercial, this Class A property offers single-tenancy potential and boasts both Buttermilk Pike and highway frontage, ensuring high visibility and accessibility. The site is part of a larger 26-acre mixed-use development, providing a synergistic environment. This development includes a substantial 203-unit luxury senior living community and two healthcare office buildings for St. Elizabeth, creating a built-in customer base and significant foot traffic. The property's location in Kenton County, Kentucky, offers access to a substantial population base
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1970
Total area
6,800 SF
Lot
1.46 ac (63,554 SF)
APN
028-10-03-019.01
UPID
US34-0225613
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
-
Deters Law Firm Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.18M
Blend (final)
Blend
$7.16M
Owner & transaction history
City Of Fort Mitchell · 1 yrs held
City Of Fort Mitchell
since 2024
5 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 Ft Mitchell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ft Mitchell 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.16M
Range $6.44M – $7.87M · ±10%
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
$1,052 / 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
$5,474
Tax year 2023
Assessed value
$513,500
Assessed 2023
Previous assessed
$513,500
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$473,500
Assessed improvement
$40,000
Land market value
$473,500
Improvement market value
$40,000
Total market value
$513,500
Applied tax rate
21.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1970
Heating
NONE
Total area
6,800 SF
Lot
1.46 ac (63,554 SF)
APN
028-10-03-019.01
UPID
US34-0225613
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
1970
Heating
NONE
Lot
1.46 ac
Current owner
From public records · entity-resolved
City Of Fort Mitchell
Entity
Free & Clear · 1 yrs held
Mailing address
45 FAIRFIELD AVE STE #200, BELLEVUE, KY 41073-1138
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2024
—
City Of Fort Mitchell
Buttermilk Pike Development Company
Special Warranty Deed
—
Nov 14, 2024
—
Saint Elizabeth Medical Center INC
Buttermilk Pike Development Company
Special Warranty Deed
—
May 22, 2020
$8,694,029
Buttermilk Pike Dev Co LLC
Christ Hospital
Grant Deed
—
May 10, 2012
—
Franklin Pacific Finance Lllp
—
Grant Deed
related
$5,757,585 · Armed Forces Bank NA
May 10, 2012
$4,500
Franklin Pacific Finance Lllp
Commissioner Of County Of Kenton
Grant Deed
related
—
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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