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    677 3rd St Covington, KY 41011-1203

    • Manufacturing properties
    • 5,360 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    9%
    Manufacturing properties
    Location Intelligence
    Property ID
    US34-0242272
    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

    • Adaptive Medical Products / Medical Equipment Supplier
    • Cincinnati Closets® / Contractor / Home Builder

    Property Details for 677 3rd St

    Lot size
    0.28 lot acres
    Property size
    5,360 SF
    Property type
    Manufacturing properties
    APN
    040-34-03-001.00
    APU
    40340300100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $460,000
      6.5%
      $425,000
      7%
      $395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    Kenton
    State
    Kentucky
    Longitude
    -84.5242
    Latitude
    39.0874
    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
    $3,863
    $180,000
    $110,000
    $290,000
    -
    $180,000
    $110,000
    $290,000

    Comparable in this City

    • Value Estimation
      $340,000
      17,574 SF

      1549 Kellogg St

      MANUFACTURING (LIGHT) • 17,574 SF
      1549 Kellogg St, Covington, KY 41011-3309
      View Details
    • Value Estimation
      $325,000
      14,000 SF

      1041 Madison Ave, Unit 47

      MANUFACTURING (LIGHT) • 14,000 SF
      1041 Madison Ave, Covington, KY 41011-3171
      View Details
    • Value Estimation
      $475,000
      22,788 SF

      1622 Dixie Hwy

      FOOD PACKING, PACKING PLANT • 22,788 SF
      1622 Dixie Hwy, Park Hills, KY 41011-2702
      View Details
    • Value Estimation
      $300,000
      10,560 SF

      921 Baker St

      MANUFACTURING (LIGHT) • 10,560 SF
      921 Baker St, Covington, KY 41011-2007
      View Details
    • Value Estimation
      $365,000
      18,300 SF

      680 4th St

      MANUFACTURING (LIGHT) • 18,300 SF
      680 4th St, Covington, KY 41011-1208
      View Details
    • Value Estimation
      $265,000
      13,736 SF

      533 Goetta Pl

      FOOD PACKING, PACKING PLANT • 13,736 SF
      533 Goetta Pl, Covington, KY 41011-2203
      View Details

    Similar Nearby for Sale

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      7,350 SF

      Versatile Property Near Downtown Covington

      Adaptable property with office, warehouse, and expansion potential.
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      Development opportunity with skyline views in Covington, Kentucky.
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    • Contact for pricing
      0.07 Acres

      Vacant Lot in Covington, KY

      Vacant lot near Madison Mile, MainStrasse, Downtown Cincy, Newport.
      1532 Banklick St, Covington, KY 41011
      View Details
    • Contact for pricing
      0.05 Acres

      Covington Land For Sale

      Vacant lot in Covington's Lewisburg Neighborhood, suitable for new construction.
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      View Details
    • $33,000

      Residential Lot with City Views

      Vacant lot with panoramic Cincinnati and Covington views.
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    • $540,000
      1,784 SF

      Covington Multifamily Property with Garage

      Two-family property near Mainstrasse with garage and backyard.
      328 W 6Th St, Covington, KY 41011
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      22,080 SF

      Covington Warehouse with Secure Parking

      Warehouse space with drive-through and secure parking in Covington.
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      View Details
    • Contact for pricing
      17,872 SF

      Covington Warehouse: Prime Location

      17,872 SF Warehouse, Flex Space Available
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      View Details
    • $17 SF/Yr
      38,144 SF

      Wright's Summit II Creative Office Space

      Modern Kenton County Creative Office Suites
      809 Smt Pkwy, Fort Wright, KY 41011
      View Details
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      120,000 SF

      Lookout Corporate Center: Fort Wright Office Space

      Prime KY Office Space: Flexible Suites Available
      1717 Dixie Hwy, Fort Wright, KY 41011
      View Details
    • $300 /Mo
      8,872 SF

      Furnished Office Space with Views

      Move-in ready office space with skyline and river views.
      50 E Rivercenter Blvd, Covington, KY 41011
      View Details
    • $19 SF/Yr
      58,878 SF

      Wright's Summit III Executive Suites

      Prestigious Office Space, Kenton County
      810 Smt Pkwy, Fort Wright, KY 41011
      View Details
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    677 3rd St
    Covington, KY 41011-1203
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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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