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    256 W Lakeview Hornbeak, TN 38232

    View on Map
    For Sale
    $2,500,000

    Other - Hornbeak, TN

    Property size:
    19,977 SF
    Lot size:
    4.18 Acres
    Added:
    May 16, 2025
    Days on Market:
    323
    Last Refresh:
    Apr 3 at 2:06 pm

    Property Features for 256 W Lakeview

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    016.00
    Size
    19,977 SF
    Lot size
    4.18 Acres

    Taxes and HOA fees

    Tax Annual Amount
    10305

    Utilities

    Heating system
    Central, Electric (Heating), Natural Gas, Wall Furnace
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1956
    Flooring type
    Concrete, Other, Vinyl
    Building materials
    Brick, Other
    Roof type
    Asphalt, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    BEN PARKER

    Listing agent BEN PARKER License #377782

    Listing office CENTURY 21 GOLDEN SERVICE REALTY 204 W Washington AVE, Union City, TN

    Listing date May 16, 2025

    MLS# 45594 Listing URL

    Copyright © 2026 Reelfoot Regional 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

    Hornbeak Resort with Multiple Structures

    This property in Hornbeak, Tennessee, encompasses 10 parcels and includes a variety of structures and amenities. The main resort office, located at 256 Lakeview Dr, features 20 motel rooms, a 4-bedroom house, and 2 duplexes. Additionally, there are 5 single-wide trailers, 11 RV hookups, 2 warehouses, and a mechanic shop. A swimming pool is also located on the premises. The property has a lot size of 4.18 acres and a property size of 19977 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Eagle Nest Resort ... Hotel & Motel

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Hotel & Motel Bed & Breakfast Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Hornbeak
    County
    Obion
    State
    Tennessee
    Longitude
    -89.35817
    Latitude
    36.37951

    Nearby Similar for Sale

    • $120,000
      1,200 SF

      Turnkey Restaurant Opportunity in Hornbeak

      Established restaurant for sale with equipment and furnishings included.
      205 W Main Street, Hornbeak, TN 38232
      View Details
    • $229,000

      38-Acre Farm Near Reelfoot Lake

      38-acre farm with pasture, woods, and peach orchard near Reelfoot Lake.
      4211 Old Samburg Road, Hornbeak, TN 38232
      View Details

    FAQs

    What type of property is this?
    Resort - Resort property featuring motel, house, duplexes, trailers, RV hookups.
    Where is this resort located?
    The property is located at 256 W Lakeview Hornbeak, TN.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Large resort property including 10 parcels.; 20 motel rooms and diverse living accommodations including a 4BR house, 2 duplexes, and 5 single wide trailers.; 11 RV hookups for additional guest capacity.
    (731) 446-7066
    We can help!
    Listing Contact
    BEN PARKER
    Real Estate License ID: 377782
    Learn More
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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
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