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    Property profile & analytics

    3218 Dixie Hwy Erlanger, KY 41018-1828

    • Turn key restaurants
    • 4,608 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Sep 29, 2020
    $825,000
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-2368550
    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

    • Turn key restaurants

    Property Details for 3218 Dixie Hwy

    Year built
    1970
    Lot size
    0.85 lot acres
    Property size
    4,608 SF
    Property type
    Turn key restaurants
    APN
    015-20-25-008.00
    APU
    15202500800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $573,000
      Market price range: $361k - $890k
      AI Estimate
      $445,000
      Market price range: $298k - $635k

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

    Location Insight

    • Map
    • Local Demand
    City
    Erlanger
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5957
    Latitude
    39.0193
    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
    $10,717
    $331,000
    $494,000
    $825,000
    -
    $331,000
    $494,000
    $825,000

    Comparable in this City

    • Value Estimation
      $405,000
      0.58 Acres

      514 Commonwealth Ave

      RESTAURANT • 0.58 Acres
      514 Commonwealth Ave, Erlanger, KY 41018-1255
      View Details
    • Value Estimation by Request
      4,600 SF

      635 Donaldson Hwy

      RESTAURANT • 4,600 SF
      635 Donaldson Hwy, Erlanger, KY 41018-1236
      View Details
    • Value Estimation
      $380,000
      4,358 SF

      3140 Dixie Hwy

      RESTAURANT • 4,358 SF
      3140 Dixie Hwy, Erlanger, KY 41018-1865
      View Details
    • Value Estimation
      $325,000
      1,920 SF

      3100 Dixie Hwy

      RESTAURANT • 1,920 SF
      3100 Dixie Hwy, Erlanger, KY 41018-1827
      View Details
    • Value Estimation
      $280,000
      5,247 SF

      131 Garvey Ave

      RESTAURANT • 5,247 SF
      131 Garvey Ave, Erlanger, KY 41018
      View Details
    • Value Estimation
      $275,000
      3,400 SF

      4351 Dixie Hwy

      RESTAURANT • 3,400 SF
      4351 Dixie Hwy, Elsmere, KY 41018-1819
      View Details

    Similar Nearby for Sale

    • $490,000
      1,500 SF

      Erlanger Live/Work Commercial Property

      Unique live/work property with renovated home and detached garage/office.
      4120-4122 Dixie Hwy, Erlanger, KY 41018
      View Details
    • $500,000
      Pending

      Elsmere Commercial Property For Sale

      Versatile 2,074 SF property on 0.81 acres in Elsmere, KY.
      4501 Dixie Hwy, Covington, KY 41018
      View Details
    • $349,500
      3,000 SF

      Elsmere Commercial Auto Shop

      3000 sq ft auto shop with equipment included.
      620 Spring St, Covington, KY 41018
      View Details
    • $70,000
      Pending

      Residential Land in Erlanger, KY

      Land available in the Trails of Doe Run Neighborhood.
      811 Rudolph Way, Erlanger, KY 41018
      View Details
    • Contact for pricing

      Land Parcels Near CVG Airport

      Multiple land sites available near Cincinnati Airport and I-275.
      3363 Mineola Pike, Erlanger, KY 41018
      View Details
    • $275,000

      Vacant Commercial Lot in Elsmere

      Vacant commercial lot in Elsmere, Kentucky with two access points.
      4117-4127 Dixie Hwy, Covington, KY 41018
      View Details

    Similar Nearby for Lease

    • $8,500 /Mo
      6,439 SF

      Turn-Key Restaurant with Drive-Thru

      Former restaurant available for lease with drive-thru and equipment.
      4016 Dixie Hwy, Erlanger, KY 41018
      View Details
    • Contact for pricing
      1,700 SF

      Erlanger Drive-Thru Restaurant Space

      1,700 SF drive-thru restaurant space with high traffic visibility.
      514 Commonwealth Ave, Erlanger, KY 41018
      View Details
    • $15 SF/Yr
      368,082 SF

      Retail/Office Space in Erlanger

      2382 SF retail/office space in Kroger anchored center.
      3158-3194 Dixie Hwy, Erlanger, KY 41018
      View Details
    • $16 SF/Yr
      368,082 SF

      Erlanger Retail Space For Lease

      Multiple units available in high-traffic Erlanger shopping center.
      3188-3194 Dixie Hwy, Erlanger, KY 41018
      View Details
    • $16 SF/Yr
      368,082 SF

      Retail/Office Space in Erlanger

      Retail/office space in Kroger-anchored shopping center near I-275.
      3194 Dixie Hwy, Erlanger, KY 41018
      View Details
    • $128 SF/Yr
      8,980 SF

      Erlanger KY Office Space Available

      Prime Erlanger office, 8 suites, 500-1500 sq ft.
      3161 Dixie Hwy, Erlanger, KY 41018
      View Details
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    3218 Dixie Hwy
    Erlanger, KY 41018-1828
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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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