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    Mount Vernon Rd Newark, OH 43055

    Sponsored
    For Sale
    $2,200,000

    47 Acres + Two Homes

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity encompassing 47.429 acres of commercially zoned vacant farmland in Newark, Ohio. This expansive property includes two existing homes: a 1,894 sq ft, 3-bedroom, 1-bath home with a 3-bay workshop and additional outbuildings on 1.909 acres, and a 4-bedroom, 3-bath ranch home with a finished basement, large barn, cottage, and 2-car detached garage on 1.796 acres. The vacant land offers potential for various commercial developments, while the existing homes provide immediate rental income or owner-occupied options. The property boasts river access, ideal for recreational activities. The asking price is $2,200,000. The property's APN is 054-283470-00.000, and the total lot size is 2,066,050.8 square feet. This unique offering combines prime commercial land with established residential properties, presenting a rare opportunity for significant return on investment. The property is located at 0 Mt Vernon Road, Newark, OH 43055.

    Property Features for 0 Mount Vernon Rd

    General Information

    Property type
    Land

    Building Details

    Stories
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4055342
    Latitude
    40.0598823

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    FAQs

    What type of property is this?
    Land - 47 Acres + Two Homes
    Where is this land located?
    The property is located at Mount Vernon Rd Newark, OH.
    What is the asking price?
    The asking price for this property is $2,200,000.
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    Mount Vernon Rd Newark, OH 43055
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    Newark, OH 43055
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    Realmo Value Estimation

    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.

    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.

    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
    Mount Vernon Rd Newark, OH 43055
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