713 Pike St 2,362 SF 100% Leased Office Building Covington, KY 41011 $449,000 ($190.09/SF) 8.02% Cap Rate



INVESTMENT HIGHLIGHTS
- Open floor plan with large storefront windows
- Ample storage space
- High visibility location
EXECUTIVE SUMMARY
This newly renovated commercial building offers a prime opportunity for entrepreneurs, investors, or those seeking to live and work in the heart of Covington. The property features a large commercial space on the ground floor, ideal for retail, office, or service-based businesses, in a high traffic area with excellent visibility, along with a beautifully updated apartment above. The commercial area has a spacious open floor plan with large storefront windows for maximum exposure and abundant natural light, two restrooms and ample storage downstairs. The apartment offers a completely rehabbed two-bedroom unit with appliances, laundry hookups and a private entrance for apartment tenants. With renovations including all new electric and plumbing throughout, this building offers a unique opportunity for anyone looking to invest in a solid turn-key property with both commercial and residential potential.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$99,999
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$9.99
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Other Income |
-
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-
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Vacancy Loss |
-
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-
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Effective Gross Income |
$99,999
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$9.99
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Net Operating Income |
-
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-
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PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
2,362 SF
Building Class
B
Year Built/Renovated
1921/2024
Price
$449,000
Price Per SF
$190.09
Cap Rate
8.02%
NOI
$36,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,363 SF
Building FAR
1.08
Lot Size
0.05 AC
Zoning
CMU - Designed to accommodate a mix of commercial and residential uses, promoting vibrant, walkable communities.
Parking
2 Spaces (0.85 Spaces per 1,000 SF Leased)
1 of 1
Walk Score®
Very Walkable (70)
PROPERTY TAXES
Parcel Number | 041-33-05-002.00 | Improvements Assessment | $245,000 |
Land Assessment | $5,000 | Total Assessment | $250,000 |