Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    36 Acres of Scenic Land Title is generated by Realmo AI

    Lot 3 Penewit Road, Spring Valley, OH 45370

    View on Map
    Claim this Listing
    For Sale
    $899,000

    36-acre property ideal for custom home, farm, or recreation.

    Type:Land
    Lot size:
    36.00 Acres
    Added:
    May 11, 2026
    Days on Market:
    23
    Last Refresh:
    May 20 at 12:05 am

    Property Features for Lot 3 Penewit Road

    General Information

    Standard status
    Active
    Lot size
    36.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Angella Layne

    Listing agent Angella Layne License #2020004799

    Listing office NavX Realty, LLC

    Listing date May 11, 2026

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NavX Realty, LLC

    HighLights

    • 36‑acre property offering open land, wooded views, and privacy.
    • Conveniently located within an hour's drive to Dayton, Cincinnati, and Columbus.
    • Ideal for custom‑built home, hobby farm, mini ranch, or recreational getaway.
    • Suitable for agriculture, animals, and outdoor recreation.
    • Breathtaking sunsets, peaceful natural surroundings, and abundant wildlife.
    • Majority of the land is in Wayne Local School District.

    Overview

    This 36-acre property offers a mix of open land, wooded views, and privacy. It is located within an hour's drive to Dayton, Cincinnati, and Columbus. The property provides opportunities for a custom-built home, hobby farm, mini ranch, or recreational getaway. It is suitable for agriculture, animals, outdoor recreation, or quiet country living. The majority of the land is in Wayne Local School District.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Hotel & Motel Kitchen & Bath Showroom Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Valley
    County
    Greene
    State
    Ohio
    Longitude
    -84.0556736
    Latitude
    39.5889595

    Nearby Similar for Sale

    • $945,000
      13,500 SF

      Spring Valley Industrial Property

      Industrial property available for sale in Spring Valley, Ohio.
      2408 Darnell Drive, Spring Valley, OH 45370
      View Details
    • $329,000

      Land with Pond and Views

      10-acre land parcel featuring a pond and sunset views.
      Lot 2 Penewit Road, Spring Valley, OH 45370
      View Details
    • $1,290,000
      7,124 SF

      Turn-key Bar & Grille Opportunity

      Established bar and grille with additional income from apartments.
      13 W Main St, Spring Valley, OH 45370
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 36-acre property ideal for custom home, farm, or recreation.
    Where is this agricultural land / farmland located?
    The property is located at Lot 3 Penewit Road Spring Valley, OH.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 36‑acre property offering open land, wooded views, and privacy.; Conveniently located within an hour's drive to Dayton, Cincinnati, and Columbus.; Ideal for custom‑built home, hobby farm, mini ranch, or recreational getaway.
    (937) 403-7067
    We can help!
    Listing Contact
    Angella Layne
    Real Estate License ID: 2020004799
    Learn More
    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
    Lot 3 Penewit Road, Spring Valley, OH 45370
    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!