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    Property profile & analytics

    6620 Dixie Hwy Florence, KY 41042

    • Medical offices
    • 3,694 SF
    • 1.34 lot acres
    For Sale
    View listing
    $975,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US34-0057884
    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

    • Medical offices

    Property Details for 6620 Dixie Hwy

    Year built
    1980
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.34 lot acres
    Property size
    3,694 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    072.05-04-034.00
    APU
    72050403400

    Description

    This exceptional free-standing office building presents a unique investment opportunity in the thriving city of Florence, Kentucky. Situated on a spacious 1.34-acre lot, this all-brick structure boasts a highly desirable location, offering convenient access to major highways and public transportation routes. The building's prime location ensures high visibility and easy accessibility for clients and employees alike. The property features a large, private parking area, eliminating parking concerns for both staff and visitors. Internally, the building's plumbing and electrical systems have been meticulously customized to meet the specific needs of a dental practice, representing a significant advantage for a prospective buyer in that industry. However, the adaptable layout and infrastructure make it suitable for a variety of professional office uses. The building's all-brick construction ensures durability and low maintenance, contributing to long-term cost-effectiveness. This turnkey property offers immediate occupancy and the potential for substantial return on investment. Its strategic location, ample parking, and specialized interior features make it an exceptional opportunity for discerning buyers seeking a high-quality, well-maintained office space in a prime Kentucky location. The asking price is $975,000. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $313,000
      Market price range: $248k - $586k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $425,000
      Current use
      OFFICE BUILDING
      $475,000
      Change: +13% Conversion: Easy
      AUTO REPAIR, GARAGE
      $380,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6189
    Latitude
    39.0054
    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
    $3,376
    $135,000
    $215,000
    $350,000
    -
    $135,000
    $215,000
    $350,000

    Comparable in this City

    • Value Estimation by Request

      7201 Dixie Hwy

      MEDICAL BUILDING
      7201 Dixie Hwy, Florence, KY 41042-2124
      View Details
    • Value Estimation
      $785,000
      1.27 Acres

      8437 Us Hwy 42

      MEDICAL BUILDING • 1.27 Acres
      8437 Us Hwy 42, Florence, KY 41042-9679
      View Details
    • Value Estimation
      $160,000

      6903 Burlington Pike

      MEDICAL BUILDING
      6903 Burlington Pike, Florence, KY 41042-1618
      View Details
    • Value Estimation
      $225,000

      6909 Burlington Pike

      MEDICAL BUILDING
      6909 Burlington Pike, Florence, KY 41042-1618
      View Details
    • Value Estimation
      $635,000
      2.10 Acres

      7711 Ewing Blvd

      MEDICAL BUILDING • 2.10 Acres
      7711 Ewing Blvd, Florence, KY 41042-1814
      View Details
    • Value Estimation
      $545,000
      3,498 SF

      5001 Houston Rd

      MEDICAL BUILDING • 3,498 SF
      5001 Houston Rd, Florence, KY 41042-4852
      View Details

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    Similar Nearby for Lease

    • $11 SF/Yr
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      Prime Boone County Office Suite

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    • $495 /Mo
      13,068 SF

      Move-in Ready Office Space Available

      Highly visible office space with shared conference room in Florence.
      7628 Dixie Hwy, Florence, KY 41042
      View Details
    • Contact for pricing
      217,647 SF

      Flexible Office Suites For Lease

      Office park with suites from 874 to 22,000+ sqft.
      7300-7310 Turfway Rd, Florence, KY 41042
      View Details
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    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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