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    600 Greenup St Covington, KY 41011-2524
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    Property profile & analytics

    600 Greenup St Covington, KY 41011-2524

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    • Office buildings
    • 9,505 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Aug 5, 2020
    $600,000
    Property ID
    US34-0343172
    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
    $605,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turner Michelle F / Law Firm
    • Arnzen, Storm & Turner P.S.C. / Law Firm
    • Arnzen Wentz Molloy Laber / Law Firm
    • Molloy Mary K / Law Firm
    • Northern Kentuckians for the Judiciary / Government Office

    Property Details for 600 Greenup St

    Year built
    1969
    Lot size
    0.26 lot acres
    Property size
    9,505 SF
    Property type
    Office buildings
    APN
    054-23-18-014.00
    APU
    54231801400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $475,000
      ML approach
      $480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $825,000
      Market price range: $594k - $1.34M
      AI Estimate
      $640,000
      Market price range: $341k - $1.08M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $995,000
      Current use
      RETAIL STORES
      $840,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5068
    Latitude
    39.0852
    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
    $7,992
    $94,500
    $505,500
    $600,000
    -
    $94,500
    $505,500
    $600,000

    Comparable in this City

    • Value Estimation by Request
      3,876 SF

      1016 Greenup St

      OFFICE BUILDING • 3,876 SF
      1016 Greenup St, Covington, KY 41011-3214
      View Details
    • Value Estimation
      $1,045,000
      9,555 SF

      902-26 Willow Run

      OFFICE BUILDING • 9,555 SF
      902-26 Willow Run, Covington, KY 41011
      View Details
    • Value Estimation
      $1,095,000
      9,444 SF

      333 Madison Ave

      OFFICE BUILDING • 9,444 SF
      333 Madison Ave, Covington, KY 41011-1517
      View Details
    • Value Estimation
      $835,000
      9,270 SF

      421 Madison Ave, Unit 23

      OFFICE BUILDING (MULTI-STORY) • 9,270 SF
      421 Madison Ave, Covington, KY 41011-1519
      View Details
    • Value Estimation by Request
      5,148 SF

      314 Greenup St

      OFFICE BUILDING • 5,148 SF
      314 Greenup St, Covington, KY 41011-1712
      View Details
    • Value Estimation by Request
      1,703 SF

      524 Greenup St

      OFFICE BUILDING • 1,703 SF
      524 Greenup St, Covington, KY 41011-2522
      View Details

    Similar Nearby for Sale

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      Covington Strip Center Investment Opportunity

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      Two-Story Commercial Investment Opportunity

      Two-story commercial property with first-floor restaurant and rehab potential.
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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
      2,785 SF

      Class A Office Building For Rent

      3-story Class A office building with easy highway access.
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      287 SF

      Office Building Near Downtown Cincinnati

      Office space with building signage and conference room access.
      1885 Dixie Hwy, Ft Wright, KY 41011
      View Details
    • $17 SF/Yr
      287 SF

      Office Space Near Downtown Cincinnati

      Office buildings with signage and conference room, near downtown.
      1881 Dixie Hwy, Ft Wright, KY 41011
      View Details
    • Contact for pricing

      Office Space with Rooftop Access

      Second-floor office space with rooftop terrace access available for rent.
      434 Scott St, Covington, KY 41011
      View Details
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      2,768 SF

      Medical Office Space Available

      First generation medical office space at St. Elizabeth Covington Hospital.
      1500 James Simpson Jr 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
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    600 Greenup St
    Covington, KY 41011-2524
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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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