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Property profile & analytics
FOR SALE
Bars & Pubs
508 Madison Ave 508, Covington, KY 41011
Entity Owned
21-yr Hold
Free & Clear
Property ID
US34-2355626
For Sale
1 / 13
$540,000
508 Madison Ave,Unit 508, Covington, KY 41011
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Property summary
AI-generated overview
This is a two-story brick building with 3200 sqft. The first floor is configured for use as a restaurant and was previously rented to a sushi bar. Included are bar and back shelving, a hood, alarm system, outside patio/seating area, and a walk-in cooler. There are two basement areas, one of which was used for tenant storage. The property features two rooftop A/C units and a rubber roof. Two assigned parking spots are located at the rear of the building. The second floor has been gutted to the studs and requires complete rehabilitation, with existing water and electric connections. Located in a historic district, the property has a zoning classification of Business. The lot size is 0.07 acres.
Property profile
Verified
Property type
Bars & Pubs
Use group
RESTAURANT
Total area
3,200 SF
Lot
0.07 ac (3,053 SF)
APN
054-23-05-025.00
UPID
US34-2355626
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
-
Wabi Sabi Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Anthony Bella LLC · 21 yrs held
Anthony Bella LLC
since 2005
1 recorded transaction
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)
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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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,464
Tax year 2023
Assessed value
$185,000
Assessed 2023
Previous assessed
$185,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$45,500
Assessed improvement
$139,500
Land market value
$45,500
Improvement market value
$139,500
Total market value
$185,000
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
Bars & Pubs
Use group
RESTAURANT
Status
For Sale
Heating
NONE
Total area
3,200 SF
Lot
0.07 ac (3,053 SF)
APN
054-23-05-025.00
UPID
US34-2355626
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
0.07 ac
Current owner
From public records · entity-resolved
Anthony Bella LLC
Entity
Free & Clear · 21 yrs held
Mailing address
1619 E CRITTENDEN AVE, FT WRIGHT, KY 41011-3713
Ownership since
2005
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
Jun 2, 2005
$117,000
Anthony Bella LLC
Polasky,stanley M
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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