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    Chenango County Hunting & Recreational Land Title is generated by Realmo AI

    Lower Ravine Road, Norwich, NY 13815

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    Claim this Listing
    For Sale
    $412,500

    211.33 acres of diverse recreational land in Chenango County.

    Type:Farm
    Lot size:
    211.33 Acres
    Added:
    Jul 16, 2025
    Days on Market:
    326
    Last Refresh:
    May 19 at 8:31 pm

    Property Features for Lower Ravine Road

    General Information

    Standard status
    Active
    Lot size
    211.33 Acres
    Property subtype
    Farm

    We can help!

    Listing Contact
    Kevin Walsh
    Kevin Walsh

    Listing agent Kevin Walsh License #NY

    Listing office Keller Williams Upstate New York Properties

    Listing date Jul 16, 2025

    Source Kw

    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 Keller Williams Upstate New York Properties

    HighLights

    • 211.33 acres of diverse hunting and recreational land in Chenango County.
    • Managed under NYS 480a Forestry Program, offering significantly reduced annual property taxes.
    • Potential for ongoing income through the forestry program and periodic timber harvesting.
    • Abundant wildlife, including excellent deer and turkey populations.
    • 1,620 feet of frontage along Gilmoure Brook for recreational opportunities.
    • Fantastic hillside and panoramic views, plus a producing spring.

    Overview

    This unique 211.33-acre property in Chenango County presents a hunting and recreational dream. The land features a diverse mix of hardwood trees, including maple, cherry, birch, and oak, as well as pine. A beautiful open hillside offers views of the surrounding landscape. Wildlife is abundant, making it a hunting paradise with excellent deer and turkey populations. The property includes 1,620 feet of frontage along Gilmoure Brook, providing additional recreational opportunities. The land also features hillside and panoramic views, along with a producing spring in the open field. 179 acres are managed through the NYS 480a Forestry Management Program. This program offers the potential for ongoing income through forestry and significantly reduced annual property tax obligations. The property is located less than one mile from State Hwy 12 and the amenities of Norwich, NY. Consider the long-term investment return and low property taxes offered through the 480a program if searching for large parcels with diverse opportunities for recreation and future income potential through periodic timber harvesting.
    Location Intelligence

    Current Use by Public Records

    Hunting land

    Map

    City
    Norwich
    County
    Chenango
    State
    New York
    Longitude
    -75.5343
    Latitude
    42.4999

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    FAQs

    What type of property is this?
    Farm - 211.33 acres of diverse recreational land in Chenango County.
    Where is this farm located?
    The property is located at Lower Ravine Road Norwich, NY.
    What is the asking price?
    The asking price for this property is $412,500.
    What are key features of this property?
    This property features: 211.33 acres of diverse hunting and recreational land in Chenango County.; Managed under NYS 480a Forestry Program, offering significantly reduced annual property taxes.; Potential for ongoing income through the forestry program and periodic timber harvesting.
    (607) 226-8880
    We can help!
    Listing Contact
    Kevin Walsh
    Kevin Walsh
    Real Estate License ID: NY
    Learn More
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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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