Sign Up Successful!
You now have access to more from Realmo!
    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

    121 Spring St Sevierville, TN 37862

    Sponsored
    For Sale
    $650,000

    MULTI_FAMILY - Sevierville, TN

    Lot size:
    5.93 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 9 at 1:06 pm

    Property Features for 121 Spring St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 8, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 7
    Bedrooms
    8
    APN
    049A A 021.00
    Parking features
    Off Street, Carport
    Lot size
    5.93 Acres

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air

    Building Details

    Year built
    1997
    Number of units
    3
    Flooring type
    Laminate, Vinyl, Carpet
    Building materials
    Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Benson Bryant

    Jackson Real Estate & Auction (865) 548-4215

    Listing agent Benson Bryant (865) 397-4214

    Listing date Feb 5, 2026

    MLS# 1328451 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

    Sevierville Multi-Home Investment Opportunity

    Located in the rapidly growing Smoky Mountains region, this investment package features three homes on five parcels totaling 5.93 acres. Known locally as part of the historic L.P. Yett Family Farm, the land presents an opportunity to own a piece of Sevier County heritage. The property is situated minutes from Pigeon Forge, Gatlinburg, Sevierville, Dollywood, and Soaky Mountain Waterpark. The package includes 125 High Drive, a 3-bedroom, 1-bath home with mountain and valley views that requires extensive renovation. 121 Spring Street is a 2-bedroom, 1-bath home featuring city water, city sewer, a private well, and a natural spring, along with a detached garage and two storage sheds. 141 Spring Street is a 2014 manufactured home with 4 bedrooms and 2 baths, currently occupied and move-in ready. The property offers strong infrastructure access, including city utilities, detached storage, and open land, and unmatched proximity to major Sevier County attractions. The location is suitable for renovation, expansion, or multi-parcel resale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sevierville
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.583406
    Latitude
    35.883154

    Nearby Similar for Sale

    • $2,000,000
      6,360 SF

      Rare Smoky Mountain View Quadplex

      Four-unit short-term rental property with potential for a fifth unit.
      4222 Dollys Dr, Sevierville, TN 37876
      View Details
    • $580,000
      2,644 SF

      Smoky Mountain Duplex Hideaway

      Two-unit property near Gatlinburg and Pigeon Forge with rental income potential.
      4238 A & B, Sevierville, TN 37876
      View Details
    • $784,900
      2,016 SF

      Updated Cabin Near Dollywood

      Updated 3-bedroom cabin near Dollywood with strong rental performance.
      1550 Bears Den Way, Sevierville, TN 37876
      View Details
    • $499,000
      1,504 SF

      Sevierville Commercial Opportunity For Sale

      Commercial property in Sevierville, remodeled for dog grooming facility.
      1310 Cherokee Circle Dr, Sevierville, TN 37862
      View Details
    • $649,999
      2,156 SF

      Sevierville Modern Log Cabin

      Modern log cabin in Timber Cove, near Smoky Mountains National Park.
      4228 Wears Valley Rd, Sevierville, TN 37862
      View Details
    • $349,900
      1,352 SF

      Sevierville Multifamily Property with Lake Access

      Two homes on 0.82 acres with Douglas Lake access.
      2459 Black Oak Ridge Rd, Sevierville, TN 37876
      View Details
    • $1,549,900
      5,250 SF

      Sevierville Commercial Property with Warehouse

      3.7-acre commercial property with warehouse and high-visibility location.
      2253 Boyds Creek Hwy, Sevierville, TN 37876
      View Details
    • $2,300,000
      8,232 SF

      Sevierville Hospitality Asset For Sale

      Short-term rental property near Gatlinburg, Pigeon Forge, and Smoky Mountains.
      4155 Dollys Dr, Sevierville, TN 37876
      View Details
    • $999,999
      5,312 SF

      Sevierville Commercial Opportunity

      Commercial property in downtown Sevierville with multiple potential uses.
      526 Belle Ave, Sevierville, TN 37862
      View Details
    • $1,399,000
      48.67 Acres

      Douglas Lake Acreage Near Attractions

      48.67 acres on Douglas Lake near popular attractions.
      - Parrotts Chapel, Sevierville, TN 37876
      View Details
    • $1,595,000
      6,104 SF

      Sevierville Wedding Venue Opportunity

      Turnkey wedding venue near Pigeon Forge with income history.
      1740 High Rock Way, Sevierville, TN 37862
      View Details
    • $349,000
      1,300 SF

      Lakeside Duplex Ready for Rental

      One-level duplex on Douglas Lake, ideal for rental or residence.
      115 Bluegill Way, Sevierville, TN 37876
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Three homes on 5.93 acres near Smoky Mountain attractions.
    Where is this multifamily property located?
    The property is located at 121 Spring St Sevierville, TN.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Rare multi-home investment opportunity with 3 homes across 5 parcels totaling 5.93 acres.; - Prime location minutes from Pigeon Forge, Gatlinburg, Sevierville, Dollywood, and Soaky Mountain Waterpark.; - Move-in ready 4-bedroom, 2-bath manufactured home (2014) provides immediate income potential.
    (865) 940-1303
    Request Owner's contact information
    121 Spring St Sevierville, TN 37862
    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.
    121 Spring St
    Sevierville, TN 37862
    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
    121 Spring St Sevierville, TN 37862
    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
    Benson Bryant
    Real Estate License ID: 369554
    (865) 940-1303
    Learn more
    Google sign-in failed. Please try again or use another login method.