Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Land in Premier Community Title is generated by Realmo AI

    1 Merwin Farms Lane, New Richmond, OH 45157

    View on Map
    Claim this Listing
    For Sale
    $225,000

    LAND - Pierce Twp, OH

    Lot size:
    5.00 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    91
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 1 Merwin Farms Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    272812C135
    Lot size
    5.00 Acres

    We can help!

    Listing Contact
    Christy Grupenhof

    Listing agent Christy Grupenhof

    Listing office Plum Tree Realty 9078 Union Centre Blvd Ste 350, West Chester, OH

    Listing date Mar 5, 2026

    MLS# 1870592 Listing URL

    Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5‑acre lot in a private, premier community of luxury homes.
    • Bring your own builder to design a custom dream home.
    • Utilities available at the street (except sewer); soil test for septic completed.
    • Convenient location near schools, grocery stores, shopping, and highways.
    • Close proximity to Legendary Run Golf Course.
    • Less than 30 minutes to Downtown Cincinnati.

    Overview

    This 5-acre lot is located in a private community surrounded by luxury homes. The property is situated in Pierce Twp, Ohio, offering convenient access to schools, grocery stores, shopping, and highways. Downtown Cincinnati is less than 30 minutes away, and the Legendary Run Golf Course is nearby. The property is intended for residential use, allowing the buyer to bring their own builder and design a custom dream home. All utilities are available at the street, excluding sewer, and a soil test for septic has been completed. The annual HOA fee is $1,938, covering snow removal, community spaces, and road repairs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    New Richmond
    County
    Clermont
    State
    Ohio
    Longitude
    -84.2299
    Latitude
    38.9542

    Nearby Similar for Sale

    • $250,000
      5,412 SF

      Mixed-Use Building on Market Street

      5,412 sq. ft. mixed-use building with commercial and residential units.
      203-203 Market St, New Richmond, OH
      View Details
    • $59,999

      Land in Riebel Ridge Community

      Residential land for sale in a growing Ohio Township area.
      29 Riebel Ridge Drive, Ohio Twp, OH 45157
      View Details
    • $15,000

      Wooded Lot in Pierce Twp

      1.2-acre wooded lot with brook in established neighborhood.
      Alpine Terrace, Pierce Twp, OH 45157
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 5-acre lot for custom home in Pierce Twp, Ohio.
    Where is this residential land & home lot located?
    The property is located at 1 Merwin Farms Lane New Richmond, OH.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: 5‑acre lot in a private, premier community of luxury homes.; Bring your own builder to design a custom dream home.; Utilities available at the street (except sewer); soil test for septic completed.
    (513) 378-4663
    We can help!
    Listing Contact
    Christy Grupenhof
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1 Merwin Farms Lane, Pierce Twp, OH 45157
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!