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    2995 Madison Ave Covington, KY 41015
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    Property profile & analytics

    2995 Madison Ave, Covington, KY 41015

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    • Commercial real estate
    • 0.06 lot acres
    Off-Market
    Property ID
    US34-0011665
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tienda Tomas su Tienda Latina / Grocery & Convenience Store / Food Market

    Property Details for 2995 Madison Ave

    Year built
    1920
    Lot size
    0.06 lot acres
    Property type
    Commercial real estate

    Description

    This renovated commercial building, situated at 2995 Madison Avenue Unit 2995 in Covington, Kentucky, presents a fantastic opportunity for a small business or retail store. The property boasts a convenient location on a busy main street, ensuring high visibility and foot traffic. The building itself has undergone a complete renovation, featuring attractive ceramic flooring throughout. Two bathrooms are included, adding to the property's functionality and appeal. The lot size is 0.06 acres. The building's proximity to major roadways and public transportation provides excellent accessibility for both employees and customers. Potential buyers are responsible for verifying zoning regulations and permitted business types with the relevant city authorities to ensure compliance with local ordinances. This is a turnkey opportunity for an entrepreneur seeking a well-maintained, conveniently located commercial space. The asking price for this property is $110,000. The square footage is not currently available. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.51481
    Latitude
    39.05239

    Comparable in this City

    • $650,000
      5.83 Acres

      Covington KY Commercial Land Opportunity

      6 Acres, Zoned INST, Multiple Uses
      6093 Taylor Mill Rd, Covington, KY 41015
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    • $1,800,000

      Taylor Mill Medical Office Building

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      Retail Space on Winston Avenue

      Commercial property in Northern Kentucky, ready for immediate operation.
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      Retail Building on Corner Lot

      14,820 SF retail building on 2.26 acres for sale.
      4299 Winston Ave, Covington, KY 41015
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      Land Close to Fidelity Campus

      Land near Fidelity, zoned for multi-family development.
      Highland Pike, Ft Wright, KY 41015
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    Similar Nearby for Sale

    • $650,000
      5.83 Acres

      Covington KY Commercial Land Opportunity

      6 Acres, Zoned INST, Multiple Uses
      6093 Taylor Mill Rd, Covington, KY 41015
      View Details
    • $1,800,000

      Taylor Mill Medical Office Building

      Single tenant medical office building leased to Cultivate Behavioral Health.
      5522 Taylor Mill Rd, Taylor Mill, KY 41015
      View Details
    • Contact for pricing

      Retail Space on Winston Avenue

      Commercial property in Northern Kentucky, ready for immediate operation.
      Unknown, Latonia, KY 41015
      View Details
    • Contact for pricing

      Retail Building on Corner Lot

      14,820 SF retail building on 2.26 acres for sale.
      4299 Winston Ave, Covington, KY 41015
      View Details
    • Contact for pricing

      Land Close to Fidelity Campus

      Land near Fidelity, zoned for multi-family development.
      Highland Pike, Ft Wright, KY 41015
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Taylor Mill Shopping Center Space

      Retail and office spaces available in Taylor Mill shopping center.
      5052 Old Taylor Mill Rd, Taylor Mill, KY 41015
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      306,560 SF

      Industrial Space Near I-75/I-71

      306,560 SF industrial space with easy highway access.
      10409 Robert Spegal Rd, Independence, KY 41015
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      1,688 SF

      Retail Space in Latonia Centre

      Retail spaces available in Covington, KY, community center.
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    • Contact for pricing
      18,789 SF

      Modern Warehouse in Fort Wright

      18,789 SF warehouse space available for immediate occupancy.
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    Covington, KY 41015
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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.

    More about this property
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