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    Property profile & analytics

    55 Spiral Dr Florence, KY 41042

    • Retail space
    • 15,376 SF
    • 1.44 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0626767
    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.

    Current Use by Public Records

    • The Castle Jewelry and Pawn of Florence / Pawn Shop / Watch Repair Service
    • Halloween Express / Costume Store

    Property Details for 55 Spiral Dr

    Year built
    1998
    Lot size
    1.44 lot acres
    Property size
    15,376 SF
    Property type
    Retail space
    APN
    061.00-21-002.00
    APU
    61002100200

    Description

    This single-tenant retail property, located at 55 Spiral Dr, Florence, KY 41042, offers a flexible space ranging from 4,180 to 15,702 square feet. Situated in the highly trafficked Boone County/Florence submarket, specifically the Houston Rd/Florence/Union/US 42/Mall Road/Turfway cluster, this property boasts exceptional visibility due to its location amongst major national retailers. Neighbors include Kohl's, Home Depot, Chick-fil-A, Chili's, Walmart, Sam's Club, and Meijer, ensuring high foot traffic and brand recognition opportunities. The building features a convenient dock door at the south end, adding to its operational efficiency. The property's APN is 061.00-21-002.00. While the current offering is for up to 15,702 square feet, smaller spaces may be available depending on tenant needs. This location provides unparalleled exposure, making it an ideal choice for businesses seeking maximum visibility and a strong presence in a thriving commercial area. The property is easily accessible from major roadways, offering convenient access for customers and employees alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,095,000
      6.5%
      $2,855,000
      7%
      $2,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,846,000
      Market price range: $1.04M - $3.33M
      AI Estimate
      $2,113,000
      Market price range: $564k - $2.41M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,890,000
      Current use
      RESTAURANT
      $3,870,000
      Change: +105% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,880,000
      Change: +52% Conversion: Easy
      OFFICE BUILDING
      $2,040,000
      Change: +8% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,930,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6425
    Latitude
    39.0122
    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
    $24,776
    $1,083,450
    $1,536,000
    $2,619,450
    -
    $1,083,450
    $1,536,000
    $2,619,450

    Comparable in this City

    • Value Estimation
      $800,000
      1.90 Acres

      7531 Mall Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.90 Acres
      7531 Mall Rd, Florence, KY 41042-1401
      View Details
    • Value Estimation
      $9,260,000
      106,560 SF

      8040 Burlington Pike

      RETAIL STORES (PERSONAL SERVICES) • 106,560 SF
      8040 Burlington Pike, Florence, KY 41042-1232
      View Details
    • Value Estimation by Request

      264 Main St

      RETAIL STORES (PERSONAL SERVICES)
      264 Main St, Florence, KY 41042-4050
      View Details
    • Value Estimation by Request

      Mt Zion Rd

      RETAIL STORES (PERSONAL SERVICES)
      Mt Zion Rd, Florence, KY 41042
      View Details
    • Value Estimation
      $4,070,000
      46,406 SF

      8032 Burlington Pike

      RETAIL STORES (PERSONAL SERVICES) • 46,406 SF
      8032 Burlington Pike, Florence, KY 41042-1232
      View Details
    • Value Estimation by Request

      7365 Burlington Pike

      RETAIL STORES (PERSONAL SERVICES)
      7365 Burlington Pike, Florence, KY 41042-1509
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,590 SF

      Florence Retail Storefront - 9,590 SF

      Prime NKY Retail Space, High Visibility
      55 Spiral Dr, Florence, KY 41042
      View Details
    • $1,909,492
      7,200 SF

      Florence, KY Smokey Bones Retail

      High-yield Smokey Bones storefront, strong tenant.
      7848 Mall Rd, Florence, KY 41042
      View Details
    • $4,999,999
      19,000 SF

      Salon and Spa Ready Property

      Large salon and spa buildout with parking and newer roof.
      7535 Burlington Pike, Florence, KY 41042
      View Details
    • $559,000
      3,034 SF

      Florence Bank Building - $559K

      Prime Retail Space, High Traffic Area
      6890 Dixie Hwy, Florence, KY 41042
      View Details
    • $4,999,000
      19,040 SF

      Iconic Building on Burlington Pike

      Prestigious commercial building with high visibility and spa amenities.
      7535 Burlington Pike, Florence, KY 41042
      View Details
    • $495,000
      3,297 SF

      Former Bank Building on Dixie

      Former bank building for sale in Florence, Kentucky.
      6890 Dixie Hwy, Florence, KY 41042
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      963,727 SF

      Florence Mall Retail Space

      Kentucky Shopping Mall - Lease Options
      2028 Florence Mall, Florence, KY 41042
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space on Turfway Road

      4,000 SF retail space with high visibility and ample parking.
      7116-7120 Turfway Rd, Florence, KY 41042
      View Details
    • $3,000 /Mo
      3,000 SF

      Retail Space For Rent

      Retail space with ample parking and highway visibility.
      6418 Dixie Hwy, Florence, KY 41042
      View Details
    • $22 SF/Yr
      1,385 SF

      Retail Space in Florence, KY

      Retail space available for lease in Florence, Kentucky.
      7220 Burlington Pike, Florence, KY 41042
      View Details
    • $2,225 /Mo
      1,780 SF

      Retail Space For Lease

      Retail space available in high-traffic commercial area.
      8177 Mall Rd, Florence, KY 41042
      View Details
    • $14 SF/Yr
      5,000 SF

      Retail Space Near Turfway Park

      In-line retail space near Turfway Park Racing & Gaming.
      1030-1060 Hansel Ave, Florence, KY 41042
      View Details
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    55 Spiral Dr
    Florence, KY 41042
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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.

    More about this property
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