Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Magnolia Dr, Unit 3 Madison, OH 44057

    View on Map
    Sponsored
    For Sale
    Contact for pricing

    LAND - Madison, OH

    Lot size:
    0.47 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 24 at 10:06 pm

    Property Features for Magnolia Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    APN
    01-B-116-C-00-040-0
    Lot size
    0.47 Acres

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Celeste Schoonover

    Keller Williams Realty Greater Cleveland Northeast

    Listing agent Celeste Schoonover License #2026000651

    Listing date Mar 23, 2026

    MLS# 5195336

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Madison, OH

    This property presents a residential building opportunity with three wooded lots, each measuring 0.1561 acres, totaling 0.47 acres. Located on Magnolia Drive in Madison Township, the lots benefit from a paved road and are situated among existing houses on the north side of the street. City water and sewer services are available at the end of the street on Hubbard Road, while current homes utilize septic and well systems. The lots are positioned on an existing paved street, approximately 1/2 mile from Lake Erie, Madison Township Park, restaurants, and Vincent William Winery. The lots are three separate parcels. The seller is willing to combine the parcels into one larger lot at closing. Prospective buyers are responsible for obtaining any necessary building permits and approvals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.05061198
    Latitude
    41.82838873

    Nearby Similar for Sale

    • $3,000,000
      1.94 Acres

      Modern Car Wash on Green Road

      State-of-the-art car wash built in 2022, high revenue.
      2606 Green Rd, Madison, OH 44057
      View Details
    • $245,000
      0.08 Acres

      Downtown Madison Mixed-Use Property

      Mixed-use property in Downtown Madison with commercial and residential units.
      13-15 W Main St, Madison, OH 44057
      View Details
    • $65,000
      10.45 Acres

      Established Snap Fitness Franchise Opportunity

      Profitable Snap Fitness franchise for sale in Madison, Ohio.
      6581 N Ridge Rd, Madison, OH 44057
      View Details
    • $375,000
      5,041 SF

      Madison Retail Center - High Visibility

      Three-unit retail building, high traffic area, strong tenants.
      6659 Ridge Rd, Madison, OH 44057
      View Details
    • $450,000
      17.90 Acres

      Madison Retail Development Site

      17.9 Acres, High Visibility, Prime Location
      5573 Ridge Rd, Madison, OH 44057
      View Details
    • Contact for pricing
      18,595 SF

      Updated Retail/Office Space in Madison

      600 SF retail/office space with high visibility and accessibility.
      6714 N Ridge Rd, Madison, OH 44057
      View Details
    • $250,000
      2.13 Acres

      Madison Retail Development Opportunity

      High-visibility land, 2.13 acres, $250,000
      5662 Ridge Rd, Madison, OH 44057
      View Details
    • $299,000
      1,250 SF

      Madison Village Retail Opportunity

      Prime Retail Space, High Visibility
      5 Main St, Madison, OH 44057
      View Details
    • $299,000

      Retail Building in Madison Village

      Free-standing retail building with ample parking and great visibility.
      5 E Main St, Madison, OH 44057
      View Details
    • Contact for pricing
      7,784 SF

      Restaurant, Bar, and Apartment Building

      Restaurant, bar, apartment with frontage on US Route 20.
      6884 N Ridge Rd, Madison, OH 44057
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three wooded lots totaling 0.47 acres for residential build.
    Where is this residential land & home lot located?
    The property is located at Magnolia Dr, Unit 3 Madison, OH.
    What is the asking price?
    The asking price for this property is $25,000.
    What are key features of this property?
    This property features: - Large residential build opportunity: Three wooded lots totaling .47 acres.; - Includes timber value in the $25,000 price.; - Seller will combine parcels into one larger lot at closing.
    (216) 245-8111
    Request Owner's contact information
    Magnolia Dr, Unit 3 Madison, OH 44057
    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.
    Magnolia Dr, Unit 3
    Madison, OH 44057
    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
    Magnolia Dr, Unit 3 Madison, OH 44057
    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

    We can help!
    Listing Contact
    Celeste Schoonover
    Real Estate License ID: 2026000651
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!