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    Agricultural Land with Stream Title is generated by Realmo AI

    5911 Reform Road NE, Newark, OH 43055

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    Claim this Listing
    New
    For Sale
    $750,000

    LAND - Newark, OH

    Lot size:
    39.42 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 5911 Reform Road NE

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    065-313968-00.000
    Lot size
    39.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    39.422 AC SEC 7 & 14 R10 T3 Q2
    Tax Annual Amount
    2823

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Roberta L Lepi
    Roberta L Lepi

    Listing agent Roberta L Lepi License #284700

    Listing office Lepi & Associates 1257 Maple Avenue, Zanesville, OH

    Listing date Jun 1, 2026

    MLS# 5215920 Listing URL

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Land parcel with water source via well and sewer via septic tank (buyer to verify condition)
    • Driveway runs deep into the property with multiple building spots along the front and throughout
    • Stream crosses the property, offering habitat for wildlife
    • Road frontage at two different points along the parcel, allowing it to be split later (subject to approvals)
    • Timbered a few years ago for growth; owner reports some walnut and other hardwoods
    • Includes an inhabitable home in the process of obtaining demo estimates, plus several old buildings that remain

    Overview

    This offering is a rural agricultural land parcel with a driveway that extends deep into the property, providing access to multiple potential building sites located along the front and throughout the acreage. A stream crosses through the land, which the owner notes is beneficial for wildlife. The property also includes some walnut and other hardwoods that were timbered a few years ago to allow for continued growth. Several older buildings are present and will remain with the land.

    The property features convenient road frontage on two different points along the parcel, which can make it easier to split at a later time. There is an inhabitable home on-site that is currently undergoing the process of receiving estimates for demolition. According to the owner, the home has a water well and some type of septic system; the buyer is expected to satisfy themselves regarding condition.

    For buyers looking to build on a larger rural tract, the combination of deep driveway access, multiple building spots, and natural features may fit a range of uses, subject to buyer due diligence and applicable approvals. Please do not walk the property without an appointment and an agent present. The owner is retaining rights to free gas connected to his nearby home, and any mineral rights the owner may own will be transferred as part of the sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.253408
    Latitude
    40.141858

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - Rural parcel with driveway access, multiple potential building sites, and a stream crossing the property.
    Where is this agricultural land / farmland located?
    The property is located at 5911 Reform Road NE Newark, OH.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Land parcel with water source via well and sewer via septic tank (buyer to verify condition); Driveway runs deep into the property with multiple building spots along the front and throughout; Stream crosses the property, offering habitat for wildlife
    (740) 891-1068
    We can help!
    Listing Contact
    Roberta L Lepi
    Roberta L Lepi
    Real Estate License ID: 284700
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    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
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