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

    280 Paradise Pt New Tazewell, TN 37825

    Sponsored
    For Sale
    $2,250,000

    COMMERCIAL - New Tazewell, TN

    Property size:
    5,200 SF
    Lot size:
    12.91 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 6 at 12:06 pm

    Property Features for 280 Paradise Pt

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    126 050.00
    Size
    5,200 SF
    Lot size
    12.91 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Wall Unit(s)
    Water source
    Well

    Building Details

    Year built
    1995
    Building materials
    HardiPlank Type, Wood Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Amy Shrader
    Amy Shrader

    REMAX REAL ESTATE TEN OF MORRISTOWN (423) 289-0030

    Listing agent Amy Shrader (423) 581-8881 License #324868

    Listing date Feb 5, 2026

    MLS# 9988049

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. 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

    Norris Lake Investment Portfolio

    This investment portfolio on Norris Lake encompasses 12.91 acres and approximately 1,180 feet of shoreline. It features three income-producing homes, including two active Airbnb properties and one owner-occupied residence. The properties are located along Paradise Point in New Tazewell, Tennessee, and offer excellent road access. 146 Paradise Point (Blue Haven) and 164 Paradise Point, constructed in 2024, showcase modern finishes, open floor plans, and lake views from every level. These homes share a private water system and a permitted 4-slip covered dock with a swim platform, allowing for future expansion. They are situated on 7.88 acres with roughly 930 feet of combined shoreline. 280 Paradise Point (Lakefront Paradise), originally built in 1995 and fully renovated in 2022, features modern interior upgrades, new systems, and approximately 250 feet of shoreline. This property includes a covered dock with a swim platform and a 2-car garage on the main level. It is an established short-term rental with documented income performance. The combined properties offer multiple income streams, owner flexibility, and high visibility near Norris Landing Marina and Jimmy's Place. Proximity to Woodlake Golf Course (10 mi), Walmart in Tazewell (12 mi), Frostee Freeze (11 mi), Veterans Overlook (22 mi), Morristown (30 mi), and Knoxville (55 mi) supports tourism and rental demand. The portfolio is ideal for investors seeking an East Tennessee vacation portfolio, hospitality expansion, or a corporate retreat center with development potential on Norris Lake. The total property size is 5,200 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Paradise Island Vacation Rental

    Suggested Use

    Restaurant Real Estate Agency Accounting Firm Bar & Pub Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    New Tazewell
    County
    Claiborne
    State
    Tennessee
    Longitude
    -83.595855
    Latitude
    36.372222

    Nearby Similar for Sale

    • New
      $2,250,000
      5,284 SF

      Lakefront Investment Opportunity on Norris

      Three homes on 12.9 acres with 1,180 ft shoreline.
      146 Paradise Pt, New Tazewell, TN 37825
      View Details

    FAQs

    What type of property is this?
    Hospitality property - Turn-key short-term rental portfolio on Norris Lake with development potential.
    Where is this hospitality property located?
    The property is located at 280 Paradise Pt New Tazewell, TN.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - Turn-key short-term rental portfolio with three income-producing lake homes on 12.91 acres with **1,180 ft of shoreline on Norris Lake**.; - Two recently built (2024) modern homes with lake views, open floor plans, and **shared 4-slip covered dock with swim platform**.; - Established short-term rental (Lakefront Paradise) with documented income performance, renovated in 2022 with modern upgrades and a private covered dock.
    (423) 748-8811
    Request Owner's contact information
    280 Paradise Pt New Tazewell, TN 37825
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    New Tazewell, TN 37825
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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
    280 Paradise Pt New Tazewell, TN 37825
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    We can help!
    Listing Contact
    Amy Shrader
    Amy Shrader
    Real Estate License ID: 324868
    (423) 748-8811
    Learn more
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