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    Rare 63-Acre Leroy Legacy Title is generated by Realmo AI

    Balch Road, Thompson, OH 44086

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    Claim this Listing
    For Sale
    $990,000

    LAND - Leroy, OH

    Lot size:
    63.43 Acres
    Added:
    Apr 22, 2026
    Days on Market:
    18
    Last Refresh:
    May 9 at 10:06 am

    Property Features for Balch Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    07-A-029-0-00-010-0
    Lot size
    63.43 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 67

    We can help!

    Listing Contact
    Rick Osborne
    Rick Osborne

    Listing agent Rick Osborne License #2010001710

    Listing office Keller Williams Greater Cleveland Northeast 7400 Center Street, Mentor, OH

    Listing date Apr 22, 2026

    MLS# 5204085 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

    • 63 Contiguous Acres: A rare, large parcel in Lake County.
    • Multiple Prime Build Sites: Gently rolling topography suitable for a custom estate.
    • Significant Road Frontage: Offers development potential.
    • Maximum Privacy: Bordered by large properties and Hell Hollow Wilderness Area.
    • Outdoor Paradise: Mature hardwoods, natural screening, and streams create a haven.
    • Convenient Location: Rural setting with easy access to I‑90, wineries, and amenities of Chardon and Mentor; located in the Riverside Local School District.

    Overview

    This 63.432-acre property in Leroy Township, Lake County, Ohio, presents a rare opportunity for a private sanctuary. The land features gently rolling topography with multiple ideal locations for a custom luxury estate, family compound, or quiet rural retreat. It is bordered by expansive properties and the Hell Hollow Wilderness Area. The property is a haven for nature lovers and sportsmen, featuring dense mature hardwoods, natural screening, and tranquil streams. Significant road frontage and acreage provide unique opportunities for a small-scale subdivision or a private residential enclave. The property has frontage on Trask Road (West) of 740 feet, Trask Road (South) of 515 feet, and Balch Road (North) of 1140 feet. Located within the Riverside Local School District, the property offers rural charm with city access, being just minutes from I-90, local wineries, and the amenities of Chardon and Mentor. This property is suitable for a sprawling equestrian estate, a private hunting preserve, or a strategic long-term investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Thompson
    County
    Geauga
    State
    Ohio
    Longitude
    -81.0585
    Latitude
    41.6772

    FAQs

    What type of property is this?
    Land - 63-acre property in Leroy Township, ideal for estate or retreat.
    Where is this land located?
    The property is located at Balch Road Thompson, OH.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: 63 Contiguous Acres: A rare, large parcel in Lake County.; Multiple Prime Build Sites: Gently rolling topography suitable for a custom estate.; Significant Road Frontage: Offers development potential.
    (440) 299-5190
    We can help!
    Listing Contact
    Rick Osborne
    Rick Osborne
    Real Estate License ID: 2010001710
    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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