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Property profile & analytics
FOR SALE
Retail space
55 Spiral Dr Florence, KY 41042
Entity Owned
26-yr Hold
Absentee Owner
Free & Clear
Property ID
US34-0626767
For Sale
1 / 4
$2,605,000
55 Spiral Dr, Florence, KY 41042
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
15,376 SF
Lot
1.44 ac (62,944 SF)
APN
061.00-21-002.00
UPID
US34-0626767
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
-
The Castle Jewelry and Pawn of Florence (Bike/Boat/Book/etc) Store
-
Halloween Express (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.86M
Comparable Approach
Comparable
$2.85M
Blend (final)
Blend
$2.61M
Owner & transaction history
T & M JEWELRY INC
T & M JEWELRY INC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+104.8%
Commercial (general)
$2.9M
+52.3%
Office building
$2.0M
+7.8%
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%
$3,095,000
6.5%
$2,855,000
7%
$2,650,000
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
Blend value · Realmo final
$2.61M
Range $2.34M – $2.87M · ±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
$169 / 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
$24,776
Tax year 2023
Assessed value
$2,619,450
Assessed 2023
Previous assessed
$2,619,450
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,083,450
Assessed improvement
$1,536,000
Land market value
$1,083,450
Improvement market value
$1,536,000
Total market value
$2,619,450
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1998
Heating
NONE
Stories
1
Bathrooms
4
Total area
15,376 SF
Lot
1.44 ac (62,944 SF)
APN
061.00-21-002.00
UPID
US34-0626767
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
$1.9M
RESTAURANT
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1998
Heating
NONE
Stories
1
Bathrooms
4
Lot
1.44 ac
Current owner
From public records · entity-resolved
T & M JEWELRY INC
Entity
Free & Clear · 0 yrs held
Mailing address
121 PROSPEROUS PL STE 3B, LEXINGTON, KY 40509-1828
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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