Listing Agency: RE/MAX Connection h***@aol.com Show Phone

Listed By: DeLena Ciamacco · License #367326 Show Phone

Source: Exprealty

Added: Apr 10 Changed: Oct 5 Last Checked: Oct 21 at 12:49AM

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Investment Insights

Based on property information with market context.

The Heartland Country Resort & Animal Sanctuary is a for-sale hospitality and equestrian property built around multiple living spaces and onsite amenities. The grounds sit on approximately 10 scenic, wooded, and gently rolling acres and include multiple outbuildings, a 3+ stall barn, two fenced pastures, and a pond with a beach and gazebo. A pavilion is also on site.

The property currently operates as an established business with four rental units generating approximately $6,900 per month. There are over 5,400 SF across five residences, including the Harmony and Serenity suites (a tri-plex) with kitchens or kitchenettes, vaulted great rooms, jetted tubs, and front porches. “The Lodge” accommodates up to 12 guests and features a massive great room, full kitchen, loft, and a 3-season room. The main log home includes 1–2 bedrooms, 1.5 baths, an expansive great room, and a full basement.

Located just minutes from I-71, the property can be used to continue operating as a hospitality retreat or reconfigured for private estate and farm-style living.

Key Highlights

• Operating country resort on approx. 10 wooded, gently rolling acres with animal sanctuary amenities
• Generates approx. $6,900/month from four rental units and is set up to continue operating as a hospitality business
• Over 5,400 SF across five residences, including Harmony Serenity and Tranquility suites (tri‑plex) with kitchens/kitchenettes and vaulted great rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,780

Cap Rate

4.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$995,600 $995.6K

Cap Rate 7%

$711,143 $711.1K

Cap Rate 9%

$553,111 $553.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,400 SF

Gross rent

$97.8K $18.12/SF

− Vacancy

−$7.3K −$1.36/SF

EGI

$90.5K $16.76/SF

− OpEx

−$40.7K −$7.54/SF

NOI

$49.8K $9.22/SF

Area

Knox County, OH

Vacancy

7.50%

Lease Rate

$18.12 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$995,600

Cap Rate 7%

$711,143

Cap Rate 9%

$553,111

Alternative Uses

Best Use

Apartment 5plus

$711.1K

$622.3K – $829.7K (±1% cap)

NOI $49,780 @ 7.0% cap · market cap 4.98%

Second Best

Hotel Hospitality

$614.7K

$537.9K – $717.2K (±1% cap)

NOI $43,030 @ 7.0% cap · market cap 4.30%

Theoretical Best

Specialty Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,435 @ 7.0% cap · market cap 10.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Resorts

Suggested Use

Top Pick Garden Center Butcher Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Fenced yard

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 43019, OH

9,419

Population

3,667

Households

2.6

Avg Household Size

38

Median Age

16%

College-Educated

82%

High-School Grad

110.0 sq mi

ZIP Area

86

Density / Sq Mi

$70,317

Median Household Income

$41,985

Median Earnings

$845

Median Rent

$196,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Resort - Operating resort on roughly 10 wooded acres with four rental units generating about $6,900 per month.

Where is this resort located?

The property is located at 3020 Chesterville Sparta Rd Fredericktown, OH.

What is the asking price?

The asking price for this property is $999,999.

What are key features of this property?

This property features: Operating country resort on approx. 10 wooded, gently rolling acres with animal sanctuary amenities; Generates approx. $6,900/month from four rental units and is set up to continue operating as a hospitality business; Over 5,400 SF across five residences, including Harmony Serenity and Tranquility suites (tri‑plex) with kitchens/kitchenettes and vaulted great rooms