Country Resort & Animal
For Sale
$999,999
3020 Chesterville Sparta Rd, Fredericktown, OH 43019
Operating resort on roughly 10 wooded acres with four rental units generating about $6,900 per month.
Property Size5,400 SF
Lot Size10.00 Acres
Price / SF$185.19
Days on Market148
Property Features for 3020 Chesterville Sparta Rd
General Information
Standard status
Active
Size
5,400 SF
Lot size
10.00 Acres
Property subtype
Residential
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$10,403
Listing Agency:
RE/MAX Connection
(603) 229-0092
Listed By:
DeLena Ciamacco · License #367326
(614) 882-6725
Source:
Exprealty
Added: Apr 10
Changed: Aug 20
Last Checked: Sep 4 at 8:50AM
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 RE/MAX Connection
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,780
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$995,600
$995.6K
Cap Rate 7%
$711,143
$711.1K
Cap Rate 9%
$553,111
$553.1K
Market Conditions
NOI Build-Up for 5,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $49,780 @ 7.0% cap · market cap 4.98%
Second Best
Hotel Hospitality
$614.7K
$537.9K – $717.2K
NOI $43,030 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,435 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
