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    33084 Parkinson Rd Rutland, OH 45741
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    33084 Parkinson Rd Rutland, OH 45741

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    Property Details for 33084 Parkinson Rd

    Property type
    Land

    Description

    This exceptional 217,800 square foot land parcel in Meigs County, Ohio, presents a unique opportunity. Located at 33084 Parkinson Road, Langsville, OH 45741, this property boasts a newly constructed 20x20 foot A-frame cabin with a loft and outhouse. The cabin is fully wired and prepared for generator power or direct electric hookup (200-amp service). The land itself features beautiful mature woods with a gentle terrain leading to the cabin, then sloping through the wooded acreage. A new gated gravel driveway and extensive trail system provide easy access throughout the property. Enjoy the abundance of wildlife, excellent deer and turkey hunting opportunities, and the serene, remote county setting. This property offers convenient access to the Southern Ohio Recreation Area and Gavin Power Wildlife Area, providing public hunting and bridle trails. A recent survey (Tract 9) is available. AEP electric service is conveniently located at the corner of Titus and Parkinson Roads, just four miles from Rutland. Additional tracts of land are also available. This is an ideal property for outdoor enthusiasts seeking a peaceful retreat or a hunting haven.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rutland
    County
    Meigs
    State
    Ohio
    Longitude
    -82.1568
    Latitude
    39.0428

    Comparable in this City

    • Value Estimation by Request

      Titus Rd

      Land
      0 Titus Rd, Middleport, OH 45741
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    • Value Estimation by Request

      Parkinson Rd

      Land
      0 Parkinson Rd, Middleport, OH 45741
      View Details
    • Value Estimation by Request
      76.12 Acres

      333 End Of Dead End Trl

      INDUSTRIAL - VACANT LAND • 76.12 Acres
      333 End Of Dead End Trl, Langsville, OH 45741
      View Details
    • Value Estimation by Request
      95.60 Acres

      Langsville, OH 45741

      MINING, MINERAL, QUARRIES • 95.60 Acres
      Langsville, OH 45741
      View Details
    • Value Estimation by Request
      35.08 Acres

      Side Trl

      INDUSTRIAL - VACANT LAND • 35.08 Acres
      Side Trl, Langsville, OH 45741
      View Details
    • Value Estimation by Request
      4.00 Acres

      Langsville, OH 45741

      MINING, MINERAL, QUARRIES • 4.00 Acres
      Langsville, OH 45741
      View Details

    Similar Nearby for Sale

    • $68,500
      Pending

      Land Available in Langsville, Ohio

      Land for sale in Meigs County, Ohio.
      32204 Titus Rd, Langsville, OH 45741
      View Details
    • Contact for pricing

      Wooded Home/Cabin Site or Retreat

      5-acre wooded site with new driveway and trail system.
      Parkinson Rd, Langsville, OH 45741
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    • $85,000
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      Langsville Land with Scenic Views

      Residential land offering privacy, nature, and income potential.
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    • New
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      Langsville, OH Hunting Land

      Off-grid cabin on 17.38 acres of hunting land.
      Red Hill Rd, Langsville, OH 45741
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    • $120,000
      14.06 Acres

      Langsville, OH Open Field Land

      14.06 acres of land with rolling hills.
      32975 Salem School Lot Rd, Langsville, OH 45741
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    • Contact for pricing

      Meigs County Cabin on Wooded Acres

      New cabin on 5 wooded acres in Meigs County, Ohio.
      32204 Titus Rd, Langsville, OH 45741
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    Rutland, OH 45741
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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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