Building Details

Year Built 2018

Stories 1

Units 1

Listing Agency: RE/MAX Connection, Realtors

Listed By: DeLena Ciamacco · License #367326 Show Phone

Source: Crexi

Added: Apr 16 Changed: Aug 28 Last Checked: Aug 31 at 7:27PM

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Investment Insights

Based on property information with market context.

This property is a hospitality-focused compound set up for multiple living options, recreation, and income. It includes a 3+ stall barn, two fenced pastures, and multiple outbuildings, along with a pond featuring a beach and gazebo, plus a pavilion. The on-site residences total over 5,400 square feet across five residences, including three suites within a tri-plex (Harmony, Serenity, and Tranquility) with kitchens or kitchenettes, vaulted Great Rooms, jetted tubs, and front porches.

The Lodge accommodates up to 12 guests and features a full kitchen, loft, and a 3-Season Room. The main log home offers 1–2 bedrooms, 1.5 baths, an expansive Great Room, and a full basement. The property is currently operating as an established business generating approximately $6,400 per month from four rental units.

With a total of 8 bedrooms and 5 full and 3 half baths, the compound offers a well-defined layout for guests and rental use, minutes from I-71, within Highland Schools.

Key Highlights

• Built in 2018 on approximately 10 acres with multiple outbuildings, a 3+ stall barn, and two fenced pastures
• Established hospitality/short‑term rental operation generating approximately $6,400/month from four rental units
• Over 5,400 SF across five residences, including Harmony, Serenity, and Tranquility Suites (tri‑plex) with kitchens/kitchenettes, vaulted great rooms, jetted tubs, and front porches

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

$49,946

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

4.99%

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%

$998,920 $998.9K

Cap Rate 7%

$713,514 $713.5K

Cap Rate 9%

$554,956 $555.0K

Market Conditions

NOI Build-Up for 5,418 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

$98.2K $18.12/SF

− Vacancy

−$7.4K −$1.36/SF

EGI

$90.8K $16.76/SF

− OpEx

−$40.9K −$7.54/SF

NOI

$49.9K $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%

$998,920

Cap Rate 7%

$713,514

Cap Rate 9%

$554,956

Alternative Uses

Best Use

Apartment 5plus

$713.5K

$624.3K – $832.4K (±1% cap)

NOI $49,946 @ 7.0% cap · market cap 4.99%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,787 @ 7.0% cap · market cap 10.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Short term rental ...

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

4

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Short term rental property - Established hospitality property with multiple residences, barns, fenced pastures, and a pond, currently generating rental income.

Where is this short term rental property located?

The property is located at 3020 TOWNSHIP RD 190 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: Built in 2018 on approximately 10 acres with multiple outbuildings, a 3+ stall barn, and two fenced pastures; Established hospitality/short‑term rental operation generating approximately $6,400/month from four rental units; Over 5,400 SF across five residences, including Harmony, Serenity, and Tranquility Suites (tri‑plex) with kitchens/kitchenettes, vaulted great rooms, jetted tubs, and front porches