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

    Banjo Ridge Lot 8 37 38 Road Butler, TN 37640

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Butler, TN

    Lot size:
    4.48 Acres
    Added:
    Mar 9, 2026
    Days on Market:
    52
    Last Refresh:
    Apr 29 at 5:06 am

    Property Features for Banjo Ridge Lot 8 37 38 Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    100 025.00,027.00,040
    Lot size
    4.48 Acres

    Taxes and HOA fees

    Tax Annual Amount
    392

    We can help!

    Listing Contact
    Elizabeth Cornett

    Listing agent Elizabeth Cornett License #300988

    Listing office Ace Realty 202 W Main Street, TN

    Listing date Mar 9, 2026

    MLS# 9992105 Listing URL

    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.

    Overview

    Banjo Ridge Oversized Land Parcel

    Lots 8, 37, and 38 are being offered together, forming an oversized parcel within the Banjo Ridge development. Located in the mountains of Northeast Tennessee, the combined lots offer multiple access points and are wooded, providing privacy. The property is situated close to Lake Watauga and area attractions, allowing enjoyment of all four seasons. The total lot size is 4.48 acres. The zoning is residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Butler
    County
    Johnson
    State
    Tennessee
    Longitude
    -82.0015
    Latitude
    36.3143

    Nearby Similar for Sale

    • $397,752

      Lake View Land in Butler

      10 acres with lake views and investment potential.
      Cove Ridge Road, Butler, TN 37640
      View Details
    • $795,000

      Creekfront Mountain Land with Views

      107+/- acres of unrestricted land with Roan Creek frontage.
      9613 Roan Creek Road, Butler, TN 37640
      View Details
    • $450,000

      Watauga Lake Waterfront Land

      Waterfront property comprised of five lots near Watauga Lake.
      Norris Road, Butler, TN 37640
      View Details
    • $199,900

      Mountain Retreat with Lake Access

      Secluded 1.67-acre mountain property with tiny home and boat slip.
      601 Watauga Overlook Drive, Butler, TN 37640
      View Details
    • $51,000

      Mountain View Land in Heartwood

      5.29-acre mountain retreat with panoramic views in gated community.
      614 Tulip Poplar Trail, Butler, TN 37640
      View Details
    • $211,000

      Butler TN Land with Boat Slip

      1.83-acre lot with deeded boat slip near Watauga Lake.
      Bear Ridge Drive lot: 39, Butler, TN 37640
      View Details
    • $199,900

      Land with Mountain and Lake Views

      Residential land with lake access and mountain views in Butler.
      Lonesome Pine Trail, Butler, TN 37640
      View Details
    • $165,000

      Waterfront Acre in Cherokee Forest

      One-acre waterfront lot on Watauga Lake, Butler, Tennessee.
      Coves Edge Dr lot: 3, Butler, TN 37640
      View Details
    • $250,000

      Unrestricted Land Near Watauga Lake

      4.54-acre parcel near Watauga Lake with well and septic.
      1183 Cowan Town Road, Butler, TN 37640
      View Details
    • $122,500

      Residential Land Near Watauga Lake

      0.81 acre residential lot in gated community near Watauga Lake.
      Cowan Town Road lot: 20, Butler, TN 37640
      View Details
    • $289,000

      Land with Watauga Lake Views

      6.71-acre property with mountain and lake views in Butler, TN.
      Mountain Wynd Drive, Butler, TN 37640
      View Details
    • $38,500

      Land in Butler, Tennessee

      Residential land with mountain views, near lake and marinas.
      Gene lot: 30, Butler, TN 37640
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Three wooded lots in Banjo Ridge, close to Lake Watauga.
    Where is this residential land & home lot located?
    The property is located at Banjo Ridge Lot 8 37 38 Road Butler, TN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Oversized Parcel: Combined lots 8, 37, and 38 create a larger property.; Multiple Access Points: The property offers more than one way to enter and exit.; Wooded for Privacy: The land is forested, providing a natural screen.
    (423) 471-1652
    We can help!
    Listing Contact
    Elizabeth Cornett
    Real Estate License ID: 300988
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!