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632 Russell St 18,847 SF 100% Leased Flex Building Covington, KY 41011 $2,740,813 CAD ($145.42 CAD/SF) 9.98% Cap Rate
Investment Highlights
- Restored historic building in the heart of Downtown Covington
- Walkable to shops and restaurants
- Ample parking
- Very well maintained
Executive Summary
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$361,283
|
$19.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$361,283
|
$19.17
|
| Taxes |
$47,412
|
$2.52
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$47,412
|
$2.52
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $361,283 |
| Annual Per SF | $19.17 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $361,283 |
| Annual Per SF | $19.17 |
| Taxes (CAD) | |
|---|---|
| Annual | $47,412 |
| Annual Per SF | $2.52 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $47,412 |
| Annual Per SF | $2.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
- Mezzanine
- Air Conditioning
Utilities
- Lighting
- Gas - Natural
- Water - County
- Sewer - County
- Heating - Gas
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Bexion Pharmaceuticals
- Manufacturing
- -
- -
- -
- -
- BioLogic
- Administrative and Support Services
- -
- -
- Triple Net
- May 2012
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Bexion Pharmaceuticals | Manufacturing | - | - | - | - | |
| BioLogic | Administrative and Support Services | - | - | Triple Net | May 2012 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
632 Russell Street, formerly Germania Hall, was transformed in 2009 into a modern Class A office building for medical startups & creative firms. The Warehouse tenant space features a private entry, and collaborative, modern office vibe. Ample parking is available. Located in Downtown Covington, it is within walking distance to Mainstrasse, Hotel Covington, Licking Riverside, Downtown Cincinnati, and two blocks from the new IRS site development. This is an exceptional opportunity to bring your business to be a part of all the amazing things happening in Covington.
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 4,795 SF | Flex | - | Now |
1st Floor
| Size |
| 4,795 SF |
| Space Use |
| Flex |
| Build-Out |
| - |
| Available |
| Now |
1st Floor
| Size | 4,795 SF |
| Space Use | Flex |
| Build-Out | - |
| Available | Now |
632 Russell Street, formerly Germania Hall, was transformed in 2009 into a modern Class A office building for medical startups & creative firms. The Warehouse tenant space features a private entry, and collaborative, modern office vibe. Ample parking is available. Located in Downtown Covington, it is within walking distance to Mainstrasse, Hotel Covington, Licking Riverside, Downtown Cincinnati, and two blocks from the new IRS site development. This is an exceptional opportunity to bring your business to be a part of all the amazing things happening in Covington.
Property Taxes
| Parcel Number | 054-21-19-009.00 | Total Assessment | $2,638,906 CAD (2025) |
| Land Assessment | $207,352 CAD (2025) | Annual Taxes | $47,412 CAD ($2.52 CAD/SF) |
| Improvements Assessment | $2,431,554 CAD (2025) | Tax Year | 2024 |
Property Taxes
Contact
-
Rebecca Weber -
Comey & Shepherd Realtors
Presented by
632 Russell St
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