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

    1562-1564 Shields Ferry Road Morristown, TN 37814

    View on Map
    Claim this Listing
    For Sale
    $277,750

    MULTI_FAMILY - Morristown, TN

    Lot size:
    0.30 Acres
    Added:
    Sep 10, 2025
    Days on Market:
    228
    Last Refresh:
    Apr 25 at 8:06 am

    Property Features for 1562-1564 Shields Ferry Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 1
    Patio and Porch features
    Porch
    Exterior features
    Balcony, Rain Gutters
    Appliances
    Dishwasher, Electric Oven, Electric Range, Refrigerator
    Standard status
    Active
    APN
    024M
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1384

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1995
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Trey Cate

    Listing agent Trey Cate License #378622

    Listing office The Cate Group, Realty & Property Management LLC 303 Rocktown Road, Jefferson City, TN

    Listing date Sep 10, 2025

    MLS# 708973 Listing URL

    Copyright © 2026 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Morristown Duplex Near Downtown

    This duplex is located a few minutes from downtown Morristown. Both units are currently occupied by tenants, generating a total monthly rental income of $1,430. The property has a lot size of 0.3 acres. The neighboring duplex at 1542-1544 Shields Ferry Road is also being sold separately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.295636
    Latitude
    36.232084

    Nearby Similar for Sale

    • $949,000

      Morristown Commercial Property For Sale

      3000 sq ft commercial building in a bustling business district.
      3351 W Andrew Johnson Highway, Morristown, TN 37814
      View Details
    • $499,000
      4,764 SF

      Morristown Office Building For Sale

      Spacious office building in the heart of Morristown, Tennessee.
      217 Western Ave, Morristown, TN 37814
      View Details
    • $450,000
      3,045 SF

      Morristown Fourplex: Income Producing Investment

      All-brick fourplex in Morristown, TN, near amenities.
      1508-1514 Taft St, Morristown, TN 37814
      View Details
    • $319,000

      Updated Duplex Investment Opportunity

      Well-maintained duplex with updates, income potential, and convenient location.
      114 Sequoyah Drive, Morristown, TN 37813
      View Details
    • $949,000
      18,972 SF

      Light Manufacturing/Industrial Property For Sale

      3.23 acres, two warehouses, office space, ample parking.
      1132 Davis Street, Morristown, TN 37814
      View Details
    • $1,595,000
      20,767 SF

      Modern Storage Facility on 6.5 Acres

      Income-producing, climate-controlled storage facility with expansion potential in Morristown, TN.
      3815 W Andrew Johnson Highway, Morristown, TN 37814
      View Details
    • $650,000

      Morristown Commercial Property For Sale

      2,608 sq ft commercial property with high visibility.
      2024 E Andrew Johnson Highway, Morristown, TN 37814
      View Details
    • $379,900
      1,740 SF

      Morristown Office Building For Sale

      Office building in West Morristown, currently leased, excellent investment.
      442 E Economy Road, Morristown, TN 37814
      View Details
    • $500,000

      Established Auto Parts Business

      Turn-key auto parts business with significant upside potential on 2+ acres.
      2485 Newport Highway, Morristown, TN 37813
      View Details
    • $749,900
      1,239 SF

      High-Traffic Commercial Opportunity in Morristown

      Prime commercial property on a high-traffic highway with income potential.
      2107 W Andrew Johnson Hwy, Morristown, TN 37814
      View Details
    • $624,900
      2,682 SF

      Tennessee Land with Two Homes

      31+ acres with two homes near Morristown, Tennessee.
      2840-2830 Robinson Creek Road, Morristown, TN 37813
      View Details
    • $249,000
      756 SF

      Renovated Commercial Property with Income

      Fully renovated commercial property with C-1 zoning and income potential.
      3795 W Andrew Johnson Highway, Morristown, TN 37814
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex near downtown Morristown with existing tenants and rental income.
    Where is this duplex located?
    The property is located at 1562-1564 Shields Ferry Road Morristown, TN.
    What is the asking price?
    The asking price for this property is $277,750.
    What are key features of this property?
    This property features: Duplex property near downtown Morristown.; Currently generating $1,430 in monthly rental income.; Includes appliances: Dishwasher, Electric Oven, Electric Range, and Refrigerator.
    (865) 310-8786
    We can help!
    Listing Contact
    Trey Cate
    Real Estate License ID: 378622
    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!