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    50 E Rivercenter Blvd Covington, KY 41011
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    Property profile & analytics

    50 E Rivercenter Blvd, Covington, KY 41011

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    • Commercial real estate
    • 290,233 SF
    For Lease
    $300/Mo
    View Listing →
    Furnished Office Space with Views For Lease
    $300/Mo
    8,872 SF

    Furnished Office Space with Views

    Move-in ready office space with skyline and river views.

    50 E Rivercenter Blvd, Covington, KY
    View Listing
    Property ID
    US34-0318361
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ProMach Inc / Industrial Manufacturer / Production Facility
    • Ashland / Business Service Center / Corporate Office
    • Domtar Paper Co LLC / Mill
    • Midwest Pay Link Inc / Accounting Firm
    • ChangingVelocity / Business Management Consultant

    Property Details for 50 E Rivercenter Blvd

    Year built
    2000
    Property type
    Commercial real estate
    APN
    854-14-00-001.05
    APU
    854140000105

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 8, 2026 — Cpx Madison Place Apartments LLC — Deed · related $35.5M · Peoples Bank
    Dec 23, 2019 — Technology Towers LLC — Deed · related $62.8M · Associated Bk
    Apr 17, 2019 — Cpx Madison Place Apts LLC — Trustees Deed · related $30k · Pnc Bk
    Feb 14, 2017 — Technology Towers LLC — Deed · related $20M · Associated Bk
    — — Cpx Madison Place Office LLC — Deed Of Trust · related $33.5M · Lasalle National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $50,065,000
      6.5%
      $46,215,000
      7%
      $42,915,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $33,019,000
      Market price range: $9.79M - $33.0M
      AI Estimate
      $28,651,000
      Market price range: $7.84M - $28.7M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $23,025,000
      Current use
      RESTAURANT
      $38,190,000
      Change: +66% Conversion: Difficult
      OFFICE BUILDING
      $30,360,000
      Change: +32% Conversion: Easy
      RETAIL STORES
      $25,585,000
      Change: +11% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $23,670,000
      Change: +3% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $22,645,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5127
    Latitude
    39.0897
    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
    $573,892
    $0.00
    $43,085,000
    $43,085,000
    -
    $0.00
    $43,085,000
    $43,085,000

    Comparable in this City

    • Value Estimation
      $1,105,000
      27,798 SF

      702 Madison Ave, Unit 10

      COMMERCIAL (GENERAL)
      702 Madison Ave, Covington, KY 41011-2412
      View Details
    • Value Estimation
      $10,780,000
      87,000 SF

      630 Madison Ave, Unit 638

      COMMERCIAL (GENERAL)
      630 Madison Ave, Covington, KY 41011-2422
      View Details
    • Value Estimation
      $15,270,000
      123,225 SF

      50 11th St

      COMMERCIAL (GENERAL)
      50 11th St, Covington, KY 41011-3161
      View Details
    • Value Estimation
      $31,720,000
      256,000 SF

      10 Rivercenter Blvd

      COMMERCIAL (GENERAL)
      10 Rivercenter Blvd, Covington, KY 41011-1463
      View Details
    • Value Estimation
      $31,520,000
      254,366 SF

      100 Rivercenter Blvd

      COMMERCIAL (GENERAL)
      100 Rivercenter Blvd, Covington, KY 41011-1555
      View Details
    • Value Estimation by Request
      3,100 SF

      501 Main St

      Restaurants
      501 Main St, Covington, KY 41011
      View Details

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      Historic building with modern updates and private parking.
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      Freestanding Dollar Tree Investment Property

      Single tenant Dollar Tree in Covington, KY for sale.
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      Renovated Triplex with Development Potential

      Renovated triplex with vacant lot in Covington, Kentucky.
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      Historic Morgan Building For Sale

      9,000 SF, three-story building with parking in Covington, KY.
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      4,118 SF

      Retail/Office Space in Kenton County

      4,118 SF grey shell retail/office space for sale.
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      525 Greenup St, Covington, KY

      525 Greenup St, Covington, KY 41011 For Sale
      525 Greenup St, Covington, KY 41011
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,860 SF

      Furnished Office Space with Views

      Move-in ready office space with skyline and river views.
      50 E Rivercenter Blvd, Covington, KY 41011
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office property available for lease in Fort Wright, Kentucky.
      809 Wright's Smt Pkwy, Fort Wright, KY 41011
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space at Roebling's Bridge

      Street-level retail space in luxury Covington location.
      1 One Roebling Way, Covington, KY 41011
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      1001 Madison Ave, Covington, KY 41011
      View Details
    • Contact for pricing

      Medical Office Space at Hospital

      First generation medical office space with hospital campus access.
      Covington, KY 41011
      View Details
    • Contact for pricing
      2,396 SF

      Retail Space in Covington, KY

      Ground-level retail space in a trendy, high-traffic area.
      333 Scott St, Covington, KY 41011
      View Details
    View Listing
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    Covington, KY 41011
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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.

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    50 E Rivercenter Blvd, Covington, KY, 41011
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