Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    248 N Norris St Jamestown, TN 38556

    View on Map
    Sponsored
    For Sale
    Contact for pricing

    Vacant Land - Jamestown, TN

    Lot size:
    0.78 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 12 at 10:06 am

    Property Features for 248 N Norris St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    100
    APN
    053O C 19.05 & 19.02
    Parking features
    Garage
    Lot size
    0.78 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Garrett
    Lisa Garrett

    MITCHELL REAL ESTATE, LLC (931) 879-9149

    Listing agent Lisa Garrett (931) 879-9149

    Listing date Mar 11, 2026

    MLS# 11671397 Listing URL

    Copyright © 2026 My State MLS. 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

    Jamestown, TN Vacant Land

    This 0.78-acre property, comprised of two lots, is located on Norris Street within Jamestown city limits, situated just beyond the First Volunteer Bank's back parking lot. The land has been partially cleared, presenting a canvas for residential or commercial development. A gravel drive provides access for future construction. The property is priced below appraisal.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamestown
    County
    Fentress
    State
    Tennessee
    Longitude
    -84.930632
    Latitude
    36.432554

    Nearby Similar for Sale

    • $749,000
      4,512 SF

      Jamestown Campground with Commercial Space

      Campground with commercial space, living quarters, and equestrian facilities.
      3341 Leatherwood Ford Rd, Jamestown, TN 38556
      View Details
    • New
      $335,000
      0.58 Acres

      Turnkey Duplex in Historic Jamestown

      Remodeled duplex with immediate cash flow and bonus amenities.
      514 Flatt Spur Rd, Jamestown, TN 38556
      View Details
    • $69,900
      5.61 Acres

      Equestrian Land with Riding Trails

      5.61 acres in equestrian community with direct park access.
      Rdg Top Dr, Jamestown, TN 38556
      View Details
    • $89,900
      2.37 Acres

      Equestrian Land in Jamestown, TN

      2.37 acres in equestrian community with access to trails.
      2.37 Ac Rockview Rd, Jamestown, TN 38556
      View Details
    • $159,900
      4.90 Acres

      Equestrian Land in Ridge Top

      4.9 acres in equestrian community with access to trails.
      4.90 Ac Rockview Rd, Jamestown, TN 38556
      View Details
    • $110,000
      1.14 Acres

      Equestrian Land in Gated Community

      Bluff lot in gated equestrian community with trail access.
      Eagle Blf, Jamestown, TN 38556
      View Details
    • $725,000
      25.00 Acres

      Equestrian Land with Barn and Septic

      25-acre equestrian property with barn, septic, and trail access.
      419 Palomino Run, Jamestown, TN 38556
      View Details
    • $395,000
      11.46 Acres

      Equestrian Property with Riding Arena

      11.46 acres with barn, riding arena, fenced, cross-fenced.
      1008 Tanglewood Blvd, Jamestown, TN 38556
      View Details
    • $389,900
      3,000 SF

      Automotive Shop with Barber Shop

      Move-in ready automotive shop with equipment and barber shop.
      511 Central Ave W, Jamestown, TN 38556
      View Details
    • $350,000
      8,440 SF

      Jamestown Highway 127 Mixed-Use

      High-traffic location, ample parking, versatile space.
      832 Allardt Hwy, Jamestown, TN 38556
      View Details
    • $389,900

      Automotive Shop with Barber Shop

      Move-in ready automotive shop with equipment and barber shop.
      511 Central Ave W, Jamestown, TN 38556
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two lots, partially cleared, suitable for residential or commercial development.
    Where is this commercial land located?
    The property is located at 248 N Norris St Jamestown, TN.
    What is the asking price?
    The asking price for this property is $22,000.
    What are key features of this property?
    This property features: - Priced below appraisal; - Located inside Jamestown City limits; - Includes two lots
    (931) 879-9149
    Request Owner's contact information
    248 N Norris St Jamestown, TN 38556
    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.
    248 N Norris St
    Jamestown, TN 38556
    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
    248 N Norris St Jamestown, TN 38556
    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
    Lisa Garrett
    Lisa Garrett
    Real Estate License ID: 304417
    (931) 879-9149 (931) 397-6460
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!