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 Wheelock Road Jonesborough, TN 37659

    View on Map
    Pending
    $130,000

    LAND - Jonesborough, TN

    Lot size:
    6.79 Acres
    Added:
    Mar 2, 2026
    Days on Market:
    30
    Last Refresh:
    Apr 1 at 5:06 pm

    Property Features for 120 Wheelock Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Res
    Standard status
    Pending
    APN
    018 044.00
    Lot size
    6.79 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    405

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Debby Gibson

    Listing agent Debby Gibson License #325377

    Listing office Debby Gibson Real Estate 108 W Springbrook Drive, TN

    Listing date Mar 2, 2026

    MLS# 9991763

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Unrestricted Land with Barn

    This unrestricted 6.79-acre parcel is located near Jonesborough, TN. It offers approximately 650 feet of road frontage. A 48x54 barn with 2 levels is situated on the property. The property is suitable for building a home or establishing a working farm.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jonesborough
    County
    Washington
    State
    Tennessee
    Longitude
    -82.56676
    Latitude
    36.38544

    Nearby Similar for Sale

    • $499,000

      Jonesborough Four-Plex Investment Opportunity

      Four-plex in historic Jonesborough with income potential and expansion opportunity.
      702 W Main Street, Jonesborough, TN 37659
      View Details
    • $998,340

      Picturesque Farm in Jonesborough, TN

      24-acre farm with rolling hills, mountain views, and barn.
      Old Boones Creek Road, Jonesborough, TN 37659
      View Details
    • $400,000

      Duplex Lots in Historic Jonesborough

      Investment opportunity in Tennessee's oldest town with mountain views.
      Boones Creek Road, Jonesborough, TN 37659
      View Details
    • $289,900
      2,178 SF

      Jonesborough Duplex with Income Potential

      Income-generating duplex in Jonesborough with remodeled unit and long-term tenant.
      211 Mount Zion Church Road, Jonesborough, TN 37659
      View Details
    • $105,000

      Mobile Home Park Investment

      Mobile home park with income potential in Jonesborough, Tennessee.
      144 Kiser Circle, Jonesborough, TN 37659
      View Details
    • $105,000

      Mobile Home Park Investment

      Mobile home park with income potential in Jonesborough, Tennessee.
      144 Kiser Circle, Jonesborough, TN 37659
      View Details
    • $300,000
      1,200 SF

      Jonesborough Commercial Property For Sale

      Commercial property in Jonesborough, TN, suitable for various small businesses.
      1802 Hwy 81 S, Jonesborough, TN
      View Details
    • $3,156,000
      5,060 SF

      Jonesborough Gas Station For Sale

      Gas station with corporate guaranty and long-term lease.
      101 E Jackson Blvd, Jonesborough, TN
      View Details
    • $7,139,000
      52,186 SF

      Portfolio of Five Retail Properties

      Five retail properties available as a portfolio or individually.
      2276 Gray Station Sulphur Spgs Rd, Jonesborough, TN
      View Details

    FAQs

    What type of property is this?
    Farm - 6.79 acre unrestricted parcel with barn near Jonesborough, TN.
    Where is this farm located?
    The property is located at 120 Wheelock Road Jonesborough, TN.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Unrestricted parcel offering flexibility for building a home or establishing a farm.; Spacious 2‑level barn (48x54) located on the property.; Approximately 650 feet of road frontage.
    (423) 833-4023
    We can help!
    Listing Contact
    Debby Gibson
    Real Estate License ID: 325377
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!