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Property profile & analytics
OFF-MARKET
Estimated value
$8,275,000
Warehouses
673 3rd St 75 Covington, KY 41011-1203
Individually Owned
2-yr Hold
Free & Clear
Property ID
US34-0238792
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1955
Total area
6,675 SF
Lot
0.33 ac (14,490 SF)
APN
040-34-03-002.00
UPID
US34-0238792
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.28M
Owner & transaction history
Commonwealth Of Kentucky · 2 yrs held
Commonwealth Of Kentucky
since 2024
Last sale
$8.3M
6 recorded transactions
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)
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
$8,275,000
ML approach
$8,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.28M
Range $7.45M – $9.10M · ±10% · vs last sale $8.28M (Feb 23 2024)
Last sale anchor
$8.28M
Feb 23 2024
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
$1,240 / 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
$4,063
Tax year 2023
Assessed value
$305,000
Assessed 2023
Previous assessed
$305,000
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$255,000
Assessed improvement
$50,000
Land market value
$255,000
Improvement market value
$50,000
Total market value
$305,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1955
Heating
NONE
Total area
6,675 SF
Lot
0.33 ac (14,490 SF)
APN
040-34-03-002.00
UPID
US34-0238792
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
Year built
1955
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Commonwealth Of Kentucky
Individual
Free & Clear · 2 yrs held
Mailing address
200 MERO ST, FRANKFORT, KY 40601-1920
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
$8,275,000
Commonwealth Of Kentucky
Third Street LLC
Deed
—
Oct 5, 2010
—
Third Street LLC
—
Deed Of Trust
related
$4,700,000 · Bank Of America
Jul 8, 2004
$1,350,000
Third Street LLC
R A H Realty LLC
Grant Deed
$2,200,000 · Fifth Third Bank
—
—
Third Street LLC
—
Loan Modification
related
$3,050,000 · Bank Of America
—
—
Third Street LLC
—
Deed Of Trust
related
$7,460,000 · Memorial LP
—
—
Third Street LLC
—
Deed Of Trust
related
$4,700,000 · Bank Of America California NA
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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