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    The Largest CRE Database in the US with Over 1 Million Listings

    110-145 Wenger Park Ln Luttrell, TN 37779

    Sponsored
    For Sale
    $2,000,000

    MULTI_FAMILY - Luttrell, TN

    Property size:
    8,000 SF
    Lot size:
    16.17 Acres
    Days on Market:
    116
    Last Refresh:
    Feb 2 at 12:06 pm

    Property Features for 110-145 Wenger Park Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 10, Bedroom 15, Bathroom 5, Bedroom 7, Bedroom 17, Bedroom 3, Bathroom 2, Bathroom 6, Bedroom 21, Bathroom 8, Bathroom 11, Bedroom 11, Bedroom 12, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 14, Bedroom 19, Bathroom 9, Bedroom 9, Bathroom 4, Bedroom 13, Bedroom 20, Bedroom 24, Bedroom 25, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 10, Bedroom 22, Bathroom 7, Bedroom 5, Bedroom 16, Bedroom 2, Bedroom 23, Bedroom 18
    Bedrooms
    25
    APN
    072 025.00
    Size
    8,000 SF
    Lot size
    16.17 Acres

    Utilities

    Heating system
    Electric (Heating)

    Building Details

    Year built
    1981
    Number of units
    11
    Flooring type
    Vinyl
    Building materials
    Vinyl Siding, Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Donna Kay Seymour

    Southern Charm Homes (865) 617-0702

    Listing agent Donna Kay Seymour (865) 518-4324

    Listing date Oct 10, 2025

    MLS# 1318104 Listing URL

    Copyright © 2025 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Luttrell Multifamily Investment Opportunity

    This property presents an excellent investment opportunity, featuring 16.169 acres with 11 site-built homes, eight of which are currently occupied. Numerous pads are set up for mobile homes. The property includes a building previously used as a store, which could potentially be converted into apartments or for other uses. A current survey is on file. The property is located in Luttrell, TN. The building size is approximately 8000 square feet. Additional acreage is available. All information is taken from tax records, and buyers must verify independently.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Luttrell
    County
    Union
    State
    Tennessee
    Longitude
    -83.801469
    Latitude
    36.211873

    FAQs

    What type of property is this?
    Mobile home & RV park - 16.17 acres with 11 homes and mobile home pads.
    Where is this mobile home & rv park located?
    The property is located at 110-145 Wenger Park Ln Luttrell, TN.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: - Portfolio of 11 site-built homes on 16.169 acres, offering immediate rental income potential.; - Numerous pads already set up for mobile homes, allowing for expansion and increased revenue streams.; - Building previously used as a store presents conversion possibilities (apartments or other uses).
    (865) 556-0289
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    Luttrell, TN 37779
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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
    110-145 Wenger Park Ln Luttrell, TN 37779
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    We can help!
    Listing Contact
    Donna Kay Seymour
    (865) 556-0289
    Learn more
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