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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    308 35th St Covington, KY 41015-1100

    • Apartment buildings
    • 2,574 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    8.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US34-0399839
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 308 35th St

    Year built
    1928
    Lot size
    0.08 lot acres
    Property size
    2,574 SF
    Property type
    Apartment buildings
    APN
    056-14-04-016.00
    APU
    56140401600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $345,000
      6.5%
      $315,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $212,000
      Market price range: $144k - $287k
      AI Estimate
      $178,000
      Market price range: $114k - $223k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $200,000
      Current use
      OFFICE BUILDING
      $315,000
      Change: +58% Conversion: Moderate
      RETAIL STORES
      $230,000
      Change: +14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $200,000
      Change: +1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $190,000
      Change: -5% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5071
    Latitude
    39.0483
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,512
    $20,000
    $93,500
    $113,500
    -
    $20,000
    $93,500
    $113,500

    Comparable in this City

    • Value Estimation
      $260,000
      832 SF

      3929 Decoursey Ave, Unit 33

      APARTMENT HOUSE (5+ UNITS) • 832 SF
      3929 Decoursey Ave, Covington, KY 41015-1540
      View Details
    • Value Estimation
      $260,000
      2,832 SF

      1 28th St, Unit 3

      APARTMENT HOUSE (5+ UNITS) • 2,832 SF
      1 28th St, Covington, KY 41015-1280
      View Details
    • Value Estimation
      $305,000
      3,360 SF

      31 Faye Dr

      APARTMENT HOUSE (5+ UNITS) • 3,360 SF
      31 Faye Dr, Taylor Mill, KY 41015-1771
      View Details
    • Value Estimation
      $105,000
      0.07 Acres

      116 32nd St

      APARTMENT HOUSE (5+ UNITS) • 0.07 Acres
      116 32nd St, Covington, KY 41015-1286
      View Details
    • Value Estimation
      $290,000
      5,840 SF

      4302 Decoursey Ave

      APARTMENT HOUSE (5+ UNITS) • 5,840 SF
      4302 Decoursey Ave, Covington, KY 41015-1854
      View Details
    • Value Estimation
      $280,000
      3,250 SF

      101 43rd St

      APARTMENT HOUSE (5+ UNITS) • 3,250 SF
      101 43rd St, Covington, KY 41015-3501
      View Details

    Similar Nearby for Sale

    • $234,900
      1,800 SF

      Updated Mixed-Use Covington Property

      Turnkey investment with commercial space and updated apartment.
      3627 Decoursey Ave, Covington, KY 41015
      View Details
    • $279,000
      2,616 SF

      Covington Duplex: Investor Opportunity

      Two-family duplex in Covington, ideal for investors or owner-occupants.
      30 W 36Th St W, Covington, KY 41015
      View Details
    • $179,000
      Pending

      Covington Investment Property with Garage

      Well-kept duplex in Latonia with long-term tenants and garage.
      15 E 41St St, Covington, KY 41015
      View Details
    • Contact for pricing
      0.12 Acres

      Covington, KY Building Lot

      Cleared building lot ready for a new home.
      309 E 42Nd St, Covington, KY 41015
      View Details
    • $2,000,000
      59.62 Acres

      Taylor Mill Land Opportunity

      59.622 acres in Taylor Mill, near Fidelity Investments Campus.
      780 Parkview Dr, Taylor Mill, KY 41015
      View Details
    • $140,000
      2,051 SF

      Latonia Retail Space Available

      Neighborhood retail space in Latonia, KY, suitable for various businesses.
      4001 Decoursey Ave, Covington, KY 41015
      View Details

    Similar Nearby for Lease

    • $4,053 /Mo
      66,054 SF

      Retail Space in Taylor Mill

      Retail space with existing infrastructure in high-traffic area.
      5113 Taylor Mill Rd, Taylor Mill, KY 41015
      View Details
    • $1,800 /Mo
      2,200 SF

      Latonia Commercial Space For Rent

      2200 SF commercial space in the heart of Latonia.
      3622 Decoursey Ave, Latonia, KY 41015
      View Details
    • Contact for pricing
      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
      View Details
    • Contact for pricing
      19,058 SF

      Retail Space in Latonia Centre

      Retail spaces available in Covington, KY, community center.
      4303-4387 Winston Ave, Covington, KY 41015
      View Details
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    308 35th St
    Covington, KY 41015-1100
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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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