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    Albany Woods 5-Acre Retreat Title is generated by Realmo AI

    34978 SR 681 Road, Albany, OH 45710

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    5 acres suitable for home, cabin, or recreation near Albany.

    Type:Land
    Lot size:
    5.00 Acres
    Added:
    Oct 13, 2024
    Days on Market:
    599
    Last Refresh:
    May 12 at 10:06 pm

    Property Features for 34978 SR 681 Road

    General Information

    Standard status
    Active
    Lot size
    5.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Mark Graham

    Listing agent Mark Graham License #2022003067

    Listing office Countrytyme Realty, LLC

    Listing date Oct 13, 2024

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Countrytyme Realty, LLC

    HighLights

    • 5 Acres adjacent to Shade River State Forest offering public hunting and recreation.
    • Excellent Deer and Turkey Hunting; Loaded with Wildlife.
    • New Trail System Through the Woods in a Picturesque Park‑like Setting.
    • Gently Rolling Terrain, Well Suited for a Walkout Basement.
    • All Mineral Rights Transfer with no active leases (ATO).
    • Includes Prepaid Water Tap.

    Overview

    This 5-acre tract in Albany Woods presents an excellent site for a home or cabin, as well as a recreational retreat. The property features a mostly open rolling meadow and open canopy woods, enhanced by a new trail system. The setting is picturesque and park-like. A new gated gravel pull-off has been installed. The terrain is gently rolling, well-suited for a walkout basement. The location offers easy access to a satellite portion of Shade River State Forest for public hunting and recreation. The area is populated with wildlife, offering excellent deer and turkey hunting. A new survey has been completed. Additional tracts are available up to 39.3 acres. All mineral rights transfer with no active leases. A prepaid water tap is included. The property is adjacent to a section of Shade River State Forest, 4.1 miles from Albany, and 12 miles from Athens.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Albany
    County
    Athens
    State
    Ohio
    Longitude
    -82.2243
    Latitude
    39.1987

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      Albany Woods 5-Acre Retreat

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    FAQs

    What type of property is this?
    Recreation land - 5 acres suitable for home, cabin, or recreation near Albany.
    Where is this recreation land located?
    The property is located at 34978 SR 681 Road Albany, OH.
    What is the asking price?
    The asking price for this property is $54,900.
    What are key features of this property?
    This property features: 5 Acres adjacent to Shade River State Forest offering public hunting and recreation.; Excellent Deer and Turkey Hunting; Loaded with Wildlife.; New Trail System Through the Woods in a Picturesque Park‑like Setting.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Graham
    Real Estate License ID: 2022003067
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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.

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