Lakefront Duplex with Separate
For Sale
$550,000
122 Circle Drive, Bean Station, TN 37708
Commercial Sale, Bean Station, TN
Property Size3,000 SF
Lot Size0.50 Acres
Price / SF$183.33
Days on Market112
Property Features for 122 Circle Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
From Morristown take US25E N/US -25E South, turn right onto Circle Dr go 300 ft . You can also access through Moldtox parking lot 1510 Highway 25E Bean Station 37708
Subdivision
205 - Grainger County
Standard status
Active
APN
044p A 007.00
Size
3,000 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
1815
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
REMAX Real Estate Ten of Morristown
(423) 581-8881
Listed By:
Ashley Hunt · License #369356
(865) 438-4543
Added: May 15
Changed: Sep 2
Last Checked: Sep 3 at 7:06AM
MLS# 9995448
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.
Investment Insights
Based on property information with market context.
This 3,000-square-foot duplex-style property sits on 0.5 acres along the lakefront and is configured for separate occupancy. The upper level contains 3 bedrooms and 2 full bathrooms and is currently vacant. The lower level provides 5 additional rooms, a large gathering area, and a full bathroom; it is leased month-to-month. Two carports and a partial foundation are also included. Built in 1998, the property has vinyl siding, a shingle roof, central heating and central air, public water, and a septic tank.
The property is located in Bean Station, near shopping, downtown, and the hospital. Commercial zoning is supported by the property information, while the existing layout accommodates residential income use. The separate levels provide flexibility for continued leasing or combined owner occupancy and rental use.
The property is located in Bean Station, near shopping, downtown, and the hospital. Commercial zoning is supported by the property information, while the existing layout accommodates residential income use. The separate levels provide flexibility for continued leasing or combined owner occupancy and rental use.
Key Highlights
- Lakefront 0.5‑acre property with 3,000 square feet
- Upper level includes 3 bedrooms and 2 full bathrooms
- Lower level has 5 rooms, a large gathering area, and a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,257
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,140
$585.1K
Cap Rate 7%
$417,957
$418.0K
Cap Rate 9%
$325,078
$325.1K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.0K $15.00/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$41.8K $13.93/SF
− OpEx
−$12.5K −$4.18/SF
NOI
$29.3K $9.75/SF
Area
Grainger County, TN
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$585,140
Cap Rate 7%
$417,957
Cap Rate 9%
$325,078
Alternative Uses
Best Use
Multifamily LT 5
$418.0K
$365.7K – $487.6K
NOI $29,257 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$384.6K
$336.5K – $448.7K
NOI $26,923 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$743.0K
$650.2K – $866.9K
NOI $52,013 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 37708, TN
6,584
Population
3,490
Households
1.9
Avg Household Size
49
Median Age
16%
College-Educated
79%
High-School Grad
41.3 sq mi
ZIP Area
159
Density / Sq Mi
$45,331
Median Household Income
$31,981
Median Earnings
$621
Median Rent
$161,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level configuration supports distinct living arrangements with an existing month-to-month rental component.
Where is this duplex located?
The property is located at 122 Circle Drive Bean Station, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Lakefront 0.5‑acre property with 3,000 square feet; Upper level includes 3 bedrooms and 2 full bathrooms; Lower level has 5 rooms, a large gathering area, and a full bathroom
