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    385 Gardenia Rd Newport, TN 37821

    View on Map
    Sponsored
    For Sale
    $489,000

    MULTI_FAMILY - Ranch - Newport, TN

    Type:Single Family Residence
    Property size:
    1,920 SF
    Lot size:
    17.00 Acres
    Days on Market:
    39
    Last Refresh:
    Mar 15 at 4:06 am

    Property Features for 385 Gardenia Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Window features
    Screens, Double Pane Windows, Vinyl Frames
    Rooms
    Bedroom 3, Basement, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 2
    Bedrooms
    5
    APN
    046 00600 000
    Patio and Porch features
    Deck
    Fireplace
    1
    Basement
    Unfinished, Interior Entry, Block, Partially Finished, Exterior Entry, Walk-Out Access
    Appliances
    Electric Range, Electric Water Heater, Refrigerator
    Size
    1,920 SF
    Lot size
    17.00 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank, Private Sewer
    Heating system
    Electric (Heating), Forced Air, Heat Pump (Heating), Wood, Wood Stove
    Cooling system
    Electric, Heat Pump, Central Air
    Water source
    Well, Public

    Building Details

    Year built
    1974
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Linoleum
    Building materials
    Brick Veneer, Frame
    Architectural style
    Ranch
    Additional Structures
    Mobile Home

    We can help!

    Listing Contact
    Scot Zalewski

    DAYBREAK PROPERTY HOLDINGS (865) 964-1516

    Listing agent Scot Zalewski (423) 823-7904

    Listing date Feb 4, 2026

    MLS# 710186

    Copyright © 2026 Lakeway Area 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.

    Learn more

    Property Insight Report

    Overview

    Newport TN Mountain View Property

    This property, located in Newport, TN, features 17 acres with mountain views and a creek at the bottom of the forest. The property includes two rental units, both currently tenant-occupied. The property has Greenbelt status. The main residence is a brick home with a metal roof and a rear deck. Trails for walking are found through the property and a mountain stream at the border. The lower level provides exterior access and flexible space suitable for storage, workshop use, or future expansion. A covered parking area and additional outbuildings add functionality for equipment, recreational toys, or hobby use. Also included on the property is a separate manufactured home offering excellent potential for multi-generational living, guest accommodations, or rental income (currently rented). The land provides ample space for gardening, animals, or simply enjoying the privacy and quiet of country life. The property is located within a short drive to Newport amenities while maintaining a secluded feel. The property offers 1920 square feet of space. Great Smoky Mountains National Park, Dinner shows, museums, world-class resorts and live entertainment nearby as Gatlinburg and Pigeon Forge is just 40 minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.231436
    Latitude
    35.985847

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    FAQs

    What type of property is this?
    Duplex - Two rental units on 17 acres with mountain views.
    Where is this duplex located?
    The property is located at 385 Gardenia Rd Newport, TN.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: - 17 acres with **long-range mountain views and a creek**, offering privacy and room to grow.; - **Turnkey investment with two rental units**, both currently tenant-occupied.; - Greenbelt status provides property tax savings.
    (423) 823-7904
    Request Owner's contact information
    385 Gardenia Rd Newport, TN 37821
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    Newport, TN 37821
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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
    385 Gardenia Rd Newport, TN 37821
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    We can help!
    Listing Contact
    Scot Zalewski
    Real Estate License ID: 356165
    (423) 823-7904 (865) 964-1516
    Learn more
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