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

    40175 Banks Rd Grafton, OH 44044

    View on Map
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Unique barndominium with barns, stables, indoor arena, and pastures.

    Lot size:
    41.37 Acres

    Property Features for 40175 Banks Rd

    General Information

    Standard status
    Active
    Lot size
    41.37 Acres

    We can help!

    Listing Contact
    Michael Hignett
    Source: Crexi

    Listing Agency: Northern Ohio Realty Listing Agent: Michael Hignett

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

    Learn more

    Overview

    41-Acre Barndominium Farm Property

    This 41.37-acre farm property features a barndominium with 3 bedrooms and 2 full bathrooms within 1,275 square feet of living space. The converted gambrel barn serves as the home base, including a large loft suitable for entertaining, workshop space, or storage. The main level offers garage door access and 4 additional stalls. A private patio is surrounded by mature trees. Outdoor amenities include a 10-stall horse stable with a wash rack and an 80x180 indoor arena barn for year-round riding, complete with 3 stalls and overhang roofs. The 50x120 steel pole barn shop features a lift, concrete floors, 20-foot ceilings, and dual roll-up doors, along with an 18-foot overhang and shavings bin. Multiple pastures with wide gates and electric fencing are available. This former grass-fed beef ranch is set back from the road, providing privacy.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grafton
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0922505
    Latitude
    41.3376373

    Nearby Similar for Sale

    • $239,900
      0.04 Acres

      Commercial Condo in Grafton, OH

      Business condo with offices, lobby, and storage in Grafton.
      1004 Vivian Dr, Grafton, OH 44044
      View Details
    • Contact for pricing
      4,980 SF

      Grafton Mixed-Use Commercial Building

      Three-level, 4,980 SF building suitable for retail or office.
      959 Main St, Grafton, OH 44044
      View Details
    • Contact for pricing
      760 SF

      Grafton Retail Storefront Opportunity

      760 SF retail storefront in Grafton, Ohio for sale.
      955 Main St, Grafton, OH 44044
      View Details
    • $589,900
      6,380 SF

      Grafton, OH Commercial Land - High Traffic

      6.75 Acres, High Visibility, Multi-Use Potential
      697 Main St, Grafton, OH 44044
      View Details
    • New
      Contact for pricing
      4,668 SF

      Spectacular Farm Property with Indoor Arena

      48.17-acre farm with 4-bedroom home, horse stable, and arena.
      40163 Banks Rd, Grafton, OH 44044
      View Details
    • New
      Contact for pricing
      1,989 SF

      Grafton Business Condo For Sale

      Business condo with offices, lobby, and storage areas.
      1004 Vivian Dr W, Grafton, OH 44044
      View Details
    • $115,000
      1.02 Acres

      Grafton Commercial Land Opportunity

      High-traffic lot, prime development potential.
      551 Main St, Grafton, OH 44044
      View Details

    FAQs

    What type of property is this?
    Horse & equestrian property - Unique barndominium with barns, stables, indoor arena, and pastures.
    Where is this horse & equestrian property located?
    The property is located at 40175 Banks Rd Grafton, OH.
    What are key features of this property?
    This property features: - 41.37-acre farm property with diverse agricultural potential.; - Enjoy year-round riding and training in the **80x180 indoor arena**.; - Features a **10-stall horse stable with wash rack**.
    Request Owner's contact information
    40175 Banks Rd Grafton, OH 44044
    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.
    40175 Banks Rd
    Grafton, OH 44044
    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
    40175 Banks Rd Grafton, OH 44044
    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
    Michael Hignett
    Real Estate License ID: 2014000042
    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!