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    7976 Wesselman Rd Groesbeck, OH 45002

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    7976 Wesselman Rd Groesbeck, OH 45002

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    • Land
    • 14.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 7976 Wesselman Rd

    Lot size
    14.50 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 14.5-acre industrial land parcel in Cleves, Ohio, presents a compelling investment opportunity. Located at 7976 Wesselman Rd, Hamilton County, the property boasts a prime location with excellent visibility from I-275. Eight acres are improved with a fenced gravel lot and a new gated entrance, enhancing security. Currently, the site generates substantial income with 47 trailer spaces under lease, producing approximately $7,500 per month in net operating income. Monthly expenses, excluding mortgage and real estate taxes, are approximately $1,250. The property offers additional potential for trailer storage expansion. Its convenient location provides easy access to major transportation arteries, being 1.7 miles from Hamilton Cleves Pike (Exit 7) on I-275 and 2.2 miles from Rybolt (Exit 11) on I-74. The property is zoned B3, permitting light industrial uses, as detailed on the Colerain Township website. The asking price for this income-generating property is $2,500,000. This is a rare opportunity to acquire a well-situated, income-producing industrial land asset with significant upside potential in a thriving location. The existing infrastructure and high visibility make this an ideal investment for both immediate returns and future development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Groesbeck
    County
    Hamilton
    State
    Ohio
    Longitude
    -84.686
    Latitude
    39.2165

    Comparable in this City

    • Value Estimation by Request
      27.16 Acres

      5001 Hamilton Cleves Rd

      INDUSTRIAL (GENERAL) • 27.16 Acres
      5001 Hamilton Cleves Rd, Cleves, OH 45002
      View Details
    • Value Estimation by Request
      2.00 Acres

      5833 Dry Frk Rd

      INDUSTRIAL (GENERAL) • 2.00 Acres
      5833 Dry Frk Rd, Cleves, OH 45002-9700
      View Details
    • Value Estimation by Request
      1,593 SF

      7340 Dry Frk Rd

      INDUSTRIAL (GENERAL) • 1,593 SF
      7340 Dry Frk Rd, Cleves, OH 45002-9431
      View Details
    • Value Estimation by Request
      1.80 Acres

      5837 Dry Frk Rd

      INDUSTRIAL (GENERAL) • 1.80 Acres
      5837 Dry Frk Rd, Cleves, OH 45002-9700
      View Details
    • Value Estimation by Request
      3.02 Acres

      9171 Harrison Pike

      INDUSTRIAL (GENERAL) • 3.02 Acres
      9171 Harrison Pike, Cleves, OH 45002-9075
      View Details
    • Value Estimation by Request
      4,000 SF

      5633 Dry Frk Rd

      INDUSTRIAL (GENERAL) • 4,000 SF
      5633 Dry Frk Rd, Cleves, OH 45002-9793
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,800 SF

      Truck Terminal on 12.6 Acres

      1,800 SF truck terminal on 12.6 acres for sale.
      6601-6481 E Miami River Rd, Cleves, OH 45002
      View Details
    • $2,500,000

      Improved Gravel Lot For Sale

      14.5 acre improved gravel lot with I-275 visibility.
      7967 Wesselman Rd, Cleves, OH 45002
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    • $595,000
      11 SF

      Unzoned Land Near Interstate I-275

      11.39+/- acres of land with all utilities near I-275.
      6175 State Route 128, Cleves, OH 45002
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    • $95,634
      Pending

      Cleves Multifamily Property For Sale

      Multifamily property in Cleves, Ohio featuring 3,708 square feet.
      221 N Miami Ave, Cleves, OH 45002
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    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease Near I-275

      Up to 17 acres available near I-275/I-74 in Cleves, OH.
      8025 Furlong Dr, Cleves, OH 45002
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      4,500 SF

      Office Warehouse and Service Building

      Office/warehouse building with renovated office space and service building.
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    • $36,000

      Commercial Land for Lease

      12 acres of stabilized commercial land available for lease.
      8073 Furlong Dr, Cleves, OH 45002
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    Groesbeck, OH 45002
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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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