Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Greystone Way Townsend, TN 37882

    View on Map
    Sponsored
    For Sale
    $119,849

    LAND - Townsend, TN

    Lot size:
    1.62 Acres
    Days on Market:
    52
    Last Refresh:
    Mar 6 at 11:06 pm

    Property Features for 120 Greystone Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    107C A 045.00
    Lot size
    1.62 Acres

    We can help!

    Listing Contact
    Charmaine Lingard
    Charmaine Lingard

    REMAX FIRST (865) 981-1004

    Listing agent Charmaine Lingard (865) 313-6866

    Listing date Jan 14, 2026

    MLS# 1301188 Listing URL

    Copyright © 2026 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

    Mountain View Homesite Opportunity

    This 1.62-acre homesite is located in Townsend, Tennessee, approximately 10 minutes from the entrance to the Great Smoky Mountains National Park and 30 minutes from Pigeon Forge. The property is approved for vacation rental cabins, offering income potential. A $40,000 concrete driveway is already in place, shared with a neighbor, and an old logging road provides an alternative entrance. Outdoor activities such as biking, hiking, fishing, tubing, and kayaking are available along the nearby Little River. Utilities including water, electricity, and high-speed internet are available at the street. McGhee Tyson Airport is located 39 minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Gym & Fitness Center Hotel & Motel Travel Agency Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Townsend
    County
    Blount
    State
    Tennessee
    Longitude
    -83.759797
    Latitude
    35.658285

    Nearby Similar for Sale

    • $499,900
      8.00 Acres

      Townsend, TN Land For Sale

      8-acre land parcel available in Townsend, Tennessee.
      Rudd Rd, Townsend, TN 37882
      View Details
    • $82,500
      0.04 Acres

      Townsend, TN Land For Sale

      Mountain resort property with amenities and activities for all ages.
      Hwy 73, Townsend, TN 37882
      View Details
    • $725,000
      1,240 SF

      Retail/Restaurant Space Near National Park

      High-visibility retail or restaurant space near Great Smoky Mountains.
      7592-7602 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $1,750,000

      Architectural Landmark Event Venue

      Meticulously crafted cantilever barn on 1.8 acres in Townsend.
      7264 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $1,750,000
      6,488 SF

      Townsend Architectural Landmark For Sale

      Meticulously crafted cantilever barn on nearly 1.8 acres.
      7264 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $250,000

      Retail Property For Sale

      Retail property available for purchase in Townsend, Tennessee.
      7016 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • Contact for pricing
      3,412 SF

      Townsend Retail/Office Opportunity

      Well-maintained 3412 sq ft building near Smoky Mountains National Park.
      7835 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $1,375,000

      Townsend Sixteen-Unit Multifamily Investment

      16-unit multifamily property near Great Smoky Mountains National Park.
      7052 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $1,375,000
      8,940 SF

      Townsend Multifamily Investment Opportunity

      16-unit multifamily property near Great Smoky Mountains National Park.
      7052 E Lamar Alexander Pkwy, Townsend, TN 37882
      View Details
    • $1,550,000
      8,940 SF

      The Trailblazer: Townsend, TN Apartments

      16-Unit Apartment Building, Newly Renovated
      7052 Lamar Alexander Pkwy, Townsend, TN 37882
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Picturesque homesite near Smoky Mountains National Park with income potential.
    Where is this residential land & home lot located?
    The property is located at 120 Greystone Way Townsend, TN.
    What is the asking price?
    The asking price for this property is $119,849.
    What are key features of this property?
    This property features: - Approved for vacation rental cabins, offering strong rental income potential.; - Located just 10 minutes from the Great Smoky Mountains National Park entrance.; - Mountain views and secluded setting nestled among trees.
    (865) 313-6866
    Request Owner's contact information
    120 Greystone Way Townsend, TN 37882
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Greystone Way
    Townsend, TN 37882
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    120 Greystone Way Townsend, TN 37882
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Charmaine Lingard
    Charmaine Lingard
    Real Estate License ID: 352520
    (865) 313-6866
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!