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    7585 Empire Dr Florence, KY 41042

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    7585 Empire Dr Florence, KY 41042

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    • Warehouses
    • 161,600 SF
    • 13.57 lot acres
    For Lease
    $9,635,000
    View Listing →
    Industrial Space Near Major Interstates For Lease
    $9,635,000
    148,415 SF

    Industrial Space Near Major Interstates

    Industrial property with recent upgrades, close to I-75/I-71 and CVG.

    7585 Empire Drive, Florence, KY 41042
    View Listing
    Property ID
    US34-0520233
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 7585 Empire Dr

    Year built
    1970
    Lot size
    13.57 lot acres
    Property size
    161,600 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    073.00-00-035.02
    APU
    73000003502

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,748,000
      Market price range: $12.7M - $32.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6339
    Latitude
    38.9732
    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
    2024
    $55,986
    $1,300,000
    $4,000,000
    $5,300,000
    -
    $1,300,000
    $4,000,000
    $5,300,000

    Comparable in this City

    • Value Estimation by Request
      3,680 SF

      7523 Sussex Dr

      MINI-WAREHOUSE, STORAGE • 3,680 SF
      7523 Sussex Dr, Florence, KY 41042-2203
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    • Value Estimation
      $1,140,000
      9,960 SF

      26 Spiral Dr

      MINI-WAREHOUSE, STORAGE • 9,960 SF
      26 Spiral Dr, Florence, KY 41042-1300
      View Details
    • Value Estimation
      $635,000
      7,680 SF

      350 Weaver Rd

      MINI-WAREHOUSE, STORAGE • 7,680 SF
      350 Weaver Rd, Florence, KY 41042-8953
      View Details
    • Value Estimation
      $550,000
      672.11 Acres

      285 Wendell H Frd Blvd

      MINI-WAREHOUSE, STORAGE • 672.11 Acres
      285 Wendell H Frd Blvd, Florence, KY 41042
      View Details
    • Value Estimation
      $8,490,000
      134,529 SF

      7910 Kentucky Dr

      MINI-WAREHOUSE, STORAGE • 134,529 SF
      7910 Kentucky Dr, Florence, KY 41042-2915
      View Details
    • Value Estimation
      $15,390,000
      341,388 SF

      7625 Empire Dr

      MINI-WAREHOUSE, STORAGE • 341,388 SF
      7625 Empire Dr, Florence, KY 41042-3430
      View Details

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      225,560 SF

      Florence Warehouse Property for Sale

      225,560 SF warehouse/distribution property in Florence, Kentucky.
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      329,000 SF

      Florence Industrial Property with Cranes

      Crane-served industrial property with easy interstate access.
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      Industrial Manufacturing Building in Florence

      329,000 SF manufacturing building on 27.67 acres for sale.
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      123,769 SF

      Amazon Distribution Facility For Sale

      Newly developed Amazon Last Mile Distribution Facility in Florence, Kentucky.
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      123,769 SF

      Amazon Last Mile Facility KY

      Class A Distribution Center, NNN Lease
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    Similar Nearby for Lease

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      12,815 SF

      Florence Warehouse Space For Lease

      12,815 SF warehouse space in Florence, Kentucky available for lease.
      7453 Empire Dr, Florence, KY 41042
      View Details
    • $3,000 /Mo
      3,000 SF

      Temperature Controlled Warehouse Space

      3,000 SF temperature controlled warehouse space for lease.
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      90,365 SF

      Industrial Space Near Major Interstates

      Industrial property with recent upgrades, close to I-75/I-71 and CVG.
      7585 Empire Dr, Florence, KY 41042
      View Details
    • Contact for pricing

      Industrial Space for Lease

      Industrial property available for lease in Florence, Kentucky.
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      View Details
    • Contact for pricing
      8,025 SF

      Florence, KY Flex Space

      Flex space with dock and drive-in doors available immediately.
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      View Details
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      270,000 SF

      270,000 SF Industrial Facility

      Industrial facility with heavy power, cranes, and convenient location.
      7375 Industrial Rd, Florence, KY 41042
      View Details
    View Listing
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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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    7585 Empire Dr, Florence, KY, 41042

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