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Property profile & analytics
FOR LEASE
Office buildings
500 Meijer Dr Florence, KY 41042
Entity Owned
12-yr Hold
Free & Clear
Property ID
US34-0556422
For Lease
$11.75 SF/Yr
500 Meijer Dr, Florence, KY 41042
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
TYPE NOT SPECIFIED
Total area
55,104 SF
Lot
3.17 ac (138,259 SF)
APN
061.00-21-010.04
UPID
US34-0556422
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
-
Cooper Steel Fabricators Industrial Manufacturer Production Facility
-
Missouri Sea and Air Services Inc Shipping Company Freight Service
-
FYX Fleet Roadside Assistance Auto Repair Shop
-
Peter Rodish Insurance Agency
-
Brooke Dickerson Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.10M
Blend (final)
Blend
$6.21M
Owner & transaction history
500 Meijer LLC · 12 yrs held
500 Meijer LLC
since 2014
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.3M
+41.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,305,000
Current use
COMMERCIAL (GENERAL)
$10,315,000
Change: +41% · Conversion: Easy
WAREHOUSE, STORAGE
$6,920,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$6,775,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$6.21M
Range $5.59M – $6.83M · ±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
$113 / 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
$39,981
Tax year 2023
Assessed value
$4,200,000
Assessed 2023
Previous assessed
$4,200,000
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$800,000
Assessed improvement
$3,400,000
Land market value
$800,000
Improvement market value
$3,400,000
Total market value
$4,200,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2004
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Stories
3
Total area
55,104 SF
Lot
3.17 ac (138,259 SF)
APN
061.00-21-010.04
UPID
US34-0556422
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
OFFICE BUILDING Current
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$10.3M
WAREHOUSE, STORAGE
Est. value
$6.9M
RETAIL STORES
Est. value
$6.8M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
2004
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
3
Lot
3.17 ac
Current owner
From public records · entity-resolved
500 Meijer LLC
Entity
Free & Clear · 12 yrs held
Mailing address
9545 KENWOOD RD STE #401, BLUE ASH, OH 45242-6100
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2017
—
600 Meijer LLC
—
Deed
related
$19,500,000 · Branch Banking And Trust Co
Jul 18, 2014
—
500 Meijer LLC
500 LLC
Limited Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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