Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Near Fall Creek Falls Title is generated by Realmo AI

    2323 College St. lot ., Spencer, TN 38585

    View on Map
    Claim this Listing
    For Sale
    $174,900

    LAND - Spencer, TN

    Lot size:
    11.00 Acres
    Added:
    Apr 10, 2026
    Days on Market:
    31
    Last Refresh:
    May 10 at 2:06 pm

    Property Features for 2323 College St. lot .

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    city
    Standard status
    Active
    APN
    5.00
    Lot size
    11.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    526

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Alease Madewell
    Alease Madewell

    Listing agent Alease Madewell License #274522

    Listing office RE/MAX ONE, LLC 1405 Interstate Dr. 1405 Interstate Dr., Cookeville, TN

    Listing date Apr 10, 2026

    MLS# 241288 Listing URL

    Copyright © 2026 Upper Cumberland 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.

    HighLights

    • 11 acres of land with mature trees and potential for clearing and landscaping.
    • Over 450 feet of road frontage with potential to subdivide.
    • Adjoins state of Tennessee reserved land.
    • Close proximity to Fall Creek Falls State Park.
    • Utilities available (Water and Public Sewer).
    • No restrictions (check city codes).

    Overview

    This property features 11 acres of level to gently rolling land with mature trees. The land has over 450 feet of road frontage, offering potential for subdivision. Adjoining Tennessee reserved land, the property is located a few miles from the entrance of Fall Creek Falls State Park. Utilities are available. The zoning is city, with no restrictions, subject to city codes. The property is located in Spencer, Tennessee.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Spencer
    County
    Van Buren
    State
    Tennessee
    Longitude
    -85.4346377
    Latitude
    35.7325184

    Nearby Similar for Sale

    • $450,000
      10,320 SF

      Established Grocery Business Opportunity

      Profitable grocery business in Spencer, TN, with high demand.
      15391 State Route Hwy 111, Spencer, TN 38585
      View Details
    • $379,900

      Established Business on 2.3 Acres

      Operating tire shop with equipment and inventory on 2.3 acres.
      12281 Sr 111, Spencer, TN 38585
      View Details
    • $1,999,900
      9,562 SF

      Woodhaven Venue Near Fall Creek

      Wedding and event venue with farmhouse on 15+ acres.
      1249 Gulf Road, Spencer, TN 38585
      View Details
    • $399,900

      Land For Sale in Spencer

      Approximately 5 acres of land with highway frontage.
      Sr 111, Spencer, TN 38585
      View Details
    • $899,900

      Serene Mountain Property with Brow

      38-acre mountaintop property with creek, suitable for various uses.
      235 Sparta St, Spencer, TN 38585
      View Details
    • $48,150

      Land in Cumberland Plateau Heart

      4.57 acre building lot near Fall Creek Falls.
      Pioneer Lane lot: 53, Spencer, TN 38585
      View Details
    • $124,998

      Versatile Land in Spencer, TN

      1.3-acre commercial land in high-traffic location, utilities available.
      876 College St, Spencer, TN 38585
      View Details
    • $37,000

      Land Parcel in Spencer, TN

      4-acre land parcel with utilities near Fall Creek Falls.
      Horseshoe Drive lot: 196, Spencer, TN 38585
      View Details
    • $69,929

      Land in Willow Ridge Ranches

      5.17-acre tract in Van Buren County with mountain views.
      Spokelay Road lot: 57, Spencer, TN 38585
      View Details
    • $9,500

      Land in Equestrian Community

      Lot in Long Branch Lakes, Tennessee's premier Equestrian Community.
      122 Camp Creek Dr, Spencer, TN 38585
      View Details
    • $15,000

      Land Parcel in Spencer, TN

      1.05 acre land parcel ready for your dream home.
      Forest View Dr lot: 6, Spencer, TN 38585
      View Details
    • $10,500

      Residential Land in Spencer, TN

      1.05 acre lot in Van Buren County, Tennessee.
      Jaguar Trail, Spencer, TN 38585
      View Details

    FAQs

    What type of property is this?
    Land - 11 acres near Fall Creek Falls State Park entrance.
    Where is this land located?
    The property is located at 2323 College St. lot . Spencer, TN.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: 11 acres of land with mature trees and potential for clearing and landscaping.; Over 450 feet of road frontage with potential to subdivide.; Adjoins state of Tennessee reserved land.
    (931) 205-2764
    We can help!
    Listing Contact
    Alease Madewell
    Alease Madewell
    Real Estate License ID: 274522
    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

    Thank You for Inquiry
    2323 College St. lot: ., Spencer, TN 38585
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!