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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Investment properties
401 Madison Ave Covington, KY 41011-1519
Entity Owned
~
Est. High Equity
Property ID
US34-0068752
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Total area
6,522 SF
Lot
0.07 ac (3,049 SF)
APN
054-21-17-004.00
UPID
US34-0068752
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
-
Cox & Cox Law Firm Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$795k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$742k
Blend (final)
Blend
$715k
Owner & transaction history
401 Madison LLC
401 Madison LLC
since 2026
Last sale
$700,100
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$860,000
+65.9%
Office building
$680,000
+31.9%
Retail stores
$575,000
+11.1%
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
$720,000
ML approach
$795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$515,000
Current use
RESTAURANT
$860,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$680,000
Change: +32% · Conversion: Easy
RETAIL STORES
$575,000
Change: +11% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$530,000
Change: +3% · Conversion: Moderate
AUTO REPAIR, GARAGE
$510,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $700k (Dec 21 2021)
Last sale anchor
$700k
Dec 21 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
$9,324
Tax year 2023
Assessed value
$700,000
Assessed 2023
Previous assessed
$700,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$100,000
Assessed improvement
$600,000
Land market value
$100,000
Improvement market value
$600,000
Total market value
$700,000
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
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Heating
NONE
Total area
6,522 SF
Lot
0.07 ac (3,049 SF)
APN
054-21-17-004.00
UPID
US34-0068752
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
COMMERCIAL (GENERAL) Current
Est. value
$515,000
RESTAURANT
Est. value
$860,000
OFFICE BUILDING
Est. value
$680,000
RETAIL STORES
Est. value
$575,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$530,000
AUTO REPAIR, GARAGE
Est. value
$510,000
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1910
Heating
NONE
Lot
0.07 ac
Current owner
From public records · entity-resolved
401 Madison LLC
Entity
Mailing address
4624 CENTRAL PARK BLVD #200, DENVER, CO 80238-3435
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2026
—
401 Madison LLC
401 Madison LLC
Deed
related
$632,000 · Heritage Bank INC
Dec 29, 2025
—
401 Madison LLC
—
Deed
related
$632,000 · Heritage Bank INC
Dec 21, 2021
$700,100
401 Madison LLC
Zhenhua Investments LLC
Warranty Deed
—
Feb 2, 2018
$400,000
Zhenhua Investments LLC
Berger & Cox Real Est Holdings
Warranty Deed
—
Jan 20, 2009
$600,000
Berfer & Cox R/e Holdings LLC
Magic Realty Investments LLC
Grant Deed
related
—
—
—
Berger & Cox R/e Holdings LLC
—
Deed Of Trust
related
$440,000 · Bank Of Kentucky
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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