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    8712 Martinsburg Rd Mount Vernon, OH 43050

    Sponsored
    For Sale
    $5,000,000

    Exceptional development opportunity, utilities available.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This expansive 106.2-acre parcel, located at 8712 Martinsburg Road in Mount Vernon, Ohio (43050), presents a remarkable investment opportunity. The property boasts a substantial 4,617,360 square feet of land, ideally situated across the street from the Mount Vernon Country Club neighborhood. Utilities are readily accessible at the curb, with the sewer line a short 0.22 miles away at Twin Oaks Elementary School. The property is already annexed into Mount Vernon, and all necessary documentation is available. A rough draft site plan outlines extra-large lots, offering flexibility for developers to adjust lot sizes to accommodate a higher density of homes. Current zoning allows for five homes per acre, with a minimum of 1200 square feet per home. An active zoning change is underway, promising the potential for increased density in the future. The property's proximity to Intel (30 miles away) adds significant long-term value. The asking price for this exceptional development opportunity is $5,000,000. The "New Community Authority Program" is in place to offset significant development expenses. Note that there are two sets of owners.

    Property Features for 8712 Martinsburg Rd

    General Information

    Property type
    Land

    HighLights

    • $5,000,000 asking price.
    • 106.2‑acre land parcel.
    • Located in Mount Vernon, OH, at 8712 Martinsburg Road.
    • 4,617,360 square feet lot size.
    • Utilities at curb (except sewer, .22 miles away).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Hotel & Motel Kitchen & Bath Storage Facility Bar & Pub Bed & Breakfast Arcade & Gaming Center Tailor Shop Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Knox
    State
    Ohio
    Longitude
    -82.4570605
    Latitude
    40.3621959

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    FAQs

    What type of property is this?
    Land - Exceptional development opportunity, utilities available.
    Where is this land located?
    The property is located at 8712 Martinsburg Rd Mount Vernon, OH.
    What is the asking price?
    The asking price for this property is $5,000,000.
    What are key features of this property?
    This property features: $5,000,000 asking price.; 106.2-acre land parcel.; Located in Mount Vernon, OH, at 8712 Martinsburg Road.
    Request Owner's contact information
    8712 Martinsburg Rd Mount Vernon, OH 43050
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    Mount Vernon, OH 43050
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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
    8712 Martinsburg Rd Mount Vernon, OH 43050
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