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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Turn key restaurants
422 Philadelphia St, Covington, KY 41011
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US34-0280290
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Total area
6,249 SF
Lot
1.24 ac (54,189 SF)
APN
040-43-07-003.00
UPID
US34-0280290
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$861k
Blend (final)
Blend
$855k
Owner & transaction history
Ohp Covington LLC · 2 yrs held
Ohp Covington LLC
since 2024
7 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 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
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
$855k
Range $770k – $941k · ±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
$137 / 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
$27,972
Tax year 2023
Assessed value
$2,100,000
Assessed 2023
Previous assessed
$2,100,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$1,760,000
Assessed improvement
$340,000
Land market value
$1,760,000
Improvement market value
$340,000
Total market value
$2,100,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Heating
NONE
Total area
6,249 SF
Lot
1.24 ac (54,189 SF)
APN
040-43-07-003.00
UPID
US34-0280290
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
Heating
NONE
Lot
1.24 ac
Current owner
From public records · entity-resolved
Ohp Covington LLC
Entity
Mailing address
5120 TAYLOR ML RD STE #300, TAYLOR MILL, KY 41015-2538
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2025
—
Ohp Covington LLC
—
Deed
related
$3,593,855 · Wesbanco Bank INC
May 1, 2024
—
Ohp-covington LLC
—
Deed
related
$240,000 · Central Bank & Trust Co
Apr 30, 2024
$3,000,000
Ohp Covington LLC
Nnn Reit LP
Special Warranty Deed
$24,000,000 · Central Bank & Trust Co
Apr 30, 2024
—
Ohp-covington LLC
—
Deed
related
$24,000,000 · Central Bank & Trust Co
Sep 18, 2018
$2,962,453
National Retail Props INC
Frischs Restaurants INC
Grant Deed
—
Sep 4, 2015
$2,962,453
National Retail Properties LP
Frischs Restaurants INC
Grant Deed
—
Jan 7, 2015
$400,000
Fourth Street Land LLC
Frischs Restaurants INC
Grant Deed
—
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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