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Property profile & analytics
OFF-MARKET
Estimated value
$1,660,000
Retail space
7688 Mall Rd Florence, KY 41042-1404
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US34-0507230
Property summary
AI-generated overview
This exceptional fee-simple retail storefront investment presents a compelling opportunity. Located at 7688 Mall Rd, Florence, KY 41042, this 5,220 square foot property boasts a 100% occupancy rate with a long-term net lease to Altafiber (formerly Cincinnati Bell), a well-established telecommunications company. The lease commenced October 20, 2023, and extends until March 30, 2034, with remaining term of 9.6 years and two five-year renewal options. The property features a 6.90% cap rate and a current NOI of $126,000. Built in 1990, this single-story building sits on a 0.75-acre lot zoned C-2, PD, and MR. Its prime location in Northern Kentucky's dominant retail trade area, near the Florence Mall and Amazon's major air hub, ensures high visibility and strong tenant demand. The asking price is $1,825,000, and $35,250 in tenant improvement allowances are already escrowed for lease renewal. This investment offers a stable, high-return opportunity in a thriving retail market.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Lot
0.75 ac (32,670 SF)
APN
062.00-25-001.15
UPID
US34-0507230
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
Current use
Occupant on record · Public records
-
altafiber Store - Florence Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.66M
Owner & transaction history
Zephyr Square LLC · 1 yrs held
Zephyr Square LLC
since 2025
Last sale
$1.7M
4 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 Florence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Florence 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
$1,770,000
ML approach
$1,685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.66M
Range $1.49M – $1.83M · ±10% · vs last sale $1.65M (May 28 2025)
Last sale anchor
$1.65M
May 28 2025
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
—
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
$6,676
Tax year 2023
Assessed value
$700,000
Assessed 2023
Previous assessed
$700,000
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$275,000
Assessed improvement
$425,000
Land market value
$275,000
Improvement market value
$425,000
Total market value
$700,000
Applied tax rate
3.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Lot
0.75 ac (32,670 SF)
APN
062.00-25-001.15
UPID
US34-0507230
Jurisdiction
BOONE
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
Heating
NONE
Lot
0.75 ac
Current owner
From public records · entity-resolved
Zephyr Square LLC
Entity
Mailing address
PO BOX 2301, CINCINNATI, OH 45201-2301
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2025
$1,650,000
Zephyr Square LLC
T Robert Bulloch
Special Warranty Deed
$866,277 · Clean Car Colorado INC
May 28, 2025
—
T Robert Bulloch
James Rahe
Quitclaim Deed
related
—
Oct 19, 2011
—
Janet G Cohen
George A Wilson
Deed
—
Aug 3, 2010
—
George A Wilson
Frances O Cohen
Deed
—
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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