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Property profile & analytics
OFF-MARKET
Estimated value
$12,420,000
Outlet malls
4999 Houston Rd, Florence, KY 41042-5126
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US34-0458909
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
142,526 SF
Lot
10.36 ac (451,238 SF)
APN
061.00-11-015.00
UPID
US34-0458909
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
-
Half Price Books (Bike/Boat/Book/etc) Store
-
Superior Fence & Rail General Contractor Construction Company
-
Guitar Center (Bike/Boat/Book/etc) Store
-
Michaels Custom Framing (Bike/Boat/Book/etc) Store Home Decor Store
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.47M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.28M
Blend (final)
Blend
$12.42M
Owner & transaction history
Eric Fegan · 3 yrs held
Eric Fegan
since 2022
Last sale
$14.9M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$18.9M
+7.8%
Warehouse, storage
$17.9M
+2.2%
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 Florence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florence 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
$16,375,000
ML approach
$10,465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$17,525,000
Current use
OFFICE BUILDING
$18,900,000
Change: +8% · Conversion: Easy
WAREHOUSE, STORAGE
$17,905,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$12.42M
Range $11.18M – $13.66M · ±10% · vs last sale $14.88M (Dec 21 2022)
Last sale anchor
$14.88M
Dec 21 2022
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
$87 / 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
$89,532
Tax year 2023
Assessed value
$9,462,600
Assessed 2023
Previous assessed
$7,250,780
+30.5% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,553,900
Assessed improvement
$7,908,700
Land market value
$1,553,900
Improvement market value
$7,908,700
Total market value
$9,462,600
Applied tax rate
3.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Stories
1
Total area
142,526 SF
Lot
10.36 ac (451,238 SF)
APN
061.00-11-015.00
UPID
US34-0458909
Jurisdiction
BOONE
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
RETAIL STORES Current
Est. value
$17.5M
OFFICE BUILDING
Est. value
$18.9M
WAREHOUSE, STORAGE
Est. value
$17.9M
RETAIL STORES Current
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Lot
10.36 ac
Current owner
From public records · entity-resolved
Eric Fegan
Individual
Mailing address
2734 CHANCELLOR DR STE #208, CRESTVIEW HILLS, KY 41017-5409
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2022
$14,875,000
Eric Fegan
Irc Turfway Commons LLC
Special Warranty Deed
$11,156,250 · Heritage Southeast Bank
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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