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    3955 Wedgewood Drive McConnelsville, OH 43756

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    LAND - Mcconnelsville, OH

    Lot size:
    0.43 Acres
    Added:
    Jun 8, 2020
    Days on Market:
    2159
    Last Refresh:
    May 6 at 10:06 pm

    Property Features for 3955 Wedgewood Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    130-004-500-2
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    R12 T11 S10 NELSON ESTATES II SD LOT 7
    Tax Annual Amount
    62

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Cinda Erickson
    Cinda Erickson

    Listing agent Cinda Erickson License #2005015767

    Listing office Berkshire Hathaway HomeServices Professional Realty 35 W Main Street, Mentor, OH

    Listing date Jun 8, 2020

    MLS# 4195730 Listing URL

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

    HighLights

    • Large 0.64‑acre lot ready for custom home construction.
    • City water and sewer hook‑ups available.
    • Located outside the floodplain.
    • No HOA fees, offering freedom in design and landscaping.
    • Proximity to McConnelsville for convenient access to amenities.
    • Features a stream and natural scenery at the rear of the property.

    Overview

    Residential Lot in Peaceful Subdivision

    This 0.43-acre lot is located in an established subdivision outside the city limits of McConnelsville, Ohio. The property offers a balance of urban convenience and suburban tranquility. A stream is located at the rear of the lot, which also features natural scenery. City water and sewer hook-ups are available. The location provides proximity to town for shopping, dining, and other amenities. The neighborhood is described as quiet and suitable for peaceful living. The property is located outside the floodplain. Some deed restrictions are in place to protect the neighborhood's charm, and there are no HOA fees.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McConnelsville
    County
    Morgan
    State
    Ohio
    Longitude
    -81.854705
    Latitude
    39.6579107

    Nearby Similar for Sale

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      Cleared Land Ready to Build

      2.396 acres in a peaceful subdivision near McConnelsville, OH.
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    • $19,900

      Residential Land in Mcconnelsville, OH

      0.5230-acre level lot, build your dream home!
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    • $19,900

      Leisure Drive Building Lot

      0.523-acre level lot for building your dream home.
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    • $359,000

      Commercial Land on State Route

      3.15-acre commercial land parcel with development potential.
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    FAQs

    What type of property is this?
    Residential land & home lot - 0.43-acre lot ready for your dream home.
    Where is this residential land & home lot located?
    The property is located at 3955 Wedgewood Drive McConnelsville, OH.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Large 0.64‑acre lot ready for custom home construction.; City water and sewer hook‑ups available.; Located outside the floodplain.
    (740) 336-8453
    We can help!
    Listing Contact
    Cinda Erickson
    Cinda Erickson
    Real Estate License ID: 2005015767
    Learn More
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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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