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    The Largest CRE Database in the US with Over 1 Million Listings

    2353 Highway 107 Unicoi, TN 37692

    Sponsored
    For Sale
    $640,000

    MULTI_FAMILY - Unicoi, TN

    Property size:
    5,000 SF
    Lot size:
    1.88 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 20 at 2:06 am

    Property Features for 2353 Highway 107

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 5, Bedroom 2
    Bedrooms
    5
    APN
    019 014.11
    Patio and Porch features
    Patio, Porch
    Interior features
    Cathedral Ceiling(s)
    Appliances
    Dryer, Range, Refrigerator, Washer
    Size
    5,000 SF
    Lot size
    1.88 Acres

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Cooling system
    Wall Unit(s), Ceiling Fan(s)

    Building Details

    Year built
    2020
    Number of units
    1
    Building materials
    Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Jennifer Scates
    Jennifer Scates

    Wallace (865) 584-4000

    Listing agent Jennifer Scates (865) 253-7889

    Listing date Feb 17, 2026

    MLS# 1317554 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

    Riverfront Triplex and RV Park

    Located in the Limestone Cove area of Unicoi, TN, this property at 2353 Highway 107 offers a fully rented triplex and a micro RV/tiny home park opportunity on 1.9 acres along the North Indian Creek River. The 5,000 sq. ft. building has been renovated with over $100,000 in improvements and includes three finished townhomes, completed in January 2024. Two townhomes are approximately 1,200 sq. ft. each, featuring 2 bedrooms, 2 full bathrooms, and a flexible office/bonus room, and are rented for $1,350/month each. The 2,400 sq. ft. garage loft is rented for $1,500/month and includes 1 bedroom, a spacious loft room, kitchen, dining area, laundry setup, and 12' garage doors. The property also features a partially completed Micro RV/Tiny Home Park with $30,000 in groundwork and site preparation already completed. There are 7 total lots near the river, with 4 lots approved for septic, water, and electric, and 3 additional lots approved for water and electric only. Clearing and grading are complete, with utilities ready for final connection. Additional features include over 109 ft of road frontage on Highway 107, a fenced side yard, an outdoor shed for additional storage, and a shared laundry center for tenants and guests in the main building. Unit 3 has its own laundry. The property offers potential for development into a Micro RV/Tiny Home Park, short-term rentals, or a venue or retreat space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Big Box & Wholesale Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Unicoi
    County
    Unicoi
    State
    Tennessee
    Longitude
    -82.265058
    Latitude
    36.179752

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    FAQs

    What type of property is this?
    Triplex - Fully rented triplex with micro RV/tiny home park potential.
    Where is this triplex located?
    The property is located at 2353 Highway 107 Unicoi, TN.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: - Fully rented triplex provides immediate income, with additional income potential from RV/Tiny Home Park; - Partially completed Micro RV/Tiny Home Park with 7 lots and some hookups, offering expansion; - Riverfront property on 1.9 acres along the North Indian Creek River
    (404) 403-9855
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    Unicoi, TN 37692
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    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
    2353 Highway 107 Unicoi, TN 37692
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    We can help!
    Listing Contact
    Jennifer Scates
    Jennifer Scates
    (404) 403-9855 (865) 253-7889
    Learn more
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