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

    414 W Bockman Way Sparta, TN 38583

    View on Map
    Sponsored
    For Sale
    $399,900

    MULTI_FAMILY - Sparta, TN

    Property size:
    3,120 SF
    Lot size:
    0.11 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 21 at 9:06 am

    Property Features for 414 W Bockman Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Single Pane Window(s), Double Pane Windows, Wood Frames
    Rooms
    Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 4, Bathroom 1, Bedroom 3
    Bedrooms
    4
    Bathrooms
    4
    APN
    065.00
    Parking features
    Paved or Surfaced
    Appliances
    Electric Water Heater, Dishwasher, Refrigerator, Electric Range
    Size
    3,120 SF
    Lot size
    0.11 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Year built
    1947
    Number of units
    4
    Flooring type
    Hardwood, Carpet, Vinyl, Tile
    Building materials
    Frame, Block, Brick
    Roof type
    Flat, Rubber

    We can help!

    Listing Contact
    Jerica Halliburton
    Jerica Halliburton

    True North Real Estate Services, LLC

    Listing agent Jerica Halliburton

    Listing date Mar 20, 2026

    MLS# 242948

    Copyright © 2026 Upper Cumberland 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

    Sparta TN Multifamily Investment Opportunity

    Located in the heart of Sparta, this 3,120 square foot property at 414 W Bockman Way is configured as a 4-plex, featuring two units upstairs and two downstairs. All units are currently leased on 1-year terms, providing immediate income potential. Each unit includes 1 bedroom, 1 bath, a living room, a kitchen with an eat-in dining area, and laundry hookups. Situated along one of Sparta's main corridors, the property benefits from strong daily traffic counts and excellent visibility. The 0.1148-acre lot is suitable for continued multifamily use or future commercial potential. The property offers strong potential for increased income, making it an attractive opportunity for investors looking to add value over time. This is a centrally located investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    White
    State
    Tennessee
    Longitude
    -85.474101
    Latitude
    35.9309759

    Nearby Similar for Sale

    • $399,900
      3,809 SF

      Restaurant and Bar Opportunity

      Restaurant and bar for sale between Sparta and Crossville.
      14127 Crossville Hwy, Sparta, TN 38583
      View Details
    • $450,000
      4,600 SF

      Versatile Commercial Building in Sparta

      4,600 sq ft industrial building with flexible layout.
      170 Mayberry St, Sparta, TN 38583
      View Details
    • $475,000
      0.64 Acres

      Commercial Property in Sparta, TN

      Two commercial buildings with office and workshop space for sale.
      W Bockman Way, Sparta, TN 38583
      View Details
    • $399,900
      5,600 SF

      5,600 SF Commercial Building

      High-traffic location with two leased units in Sparta, TN.
      28-30 Mayberry St, Sparta, TN 38583
      View Details
    • $699,000
      4,516 SF

      Commercial Building in Downtown Sparta

      Custom-built commercial building with ample parking and easy access.
      221 W Turn Table Rd, Sparta, TN 38583
      View Details
    • New
      $399,900
      3,120 SF

      Sparta TN Fourplex Investment Opportunity

      Fourplex in central Sparta, TN with income potential.
      414 W Bockman Way, Sparta, TN 38583
      View Details
    • $359,929
      3,282 SF

      Versatile Triplex in Sparta, TN

      Three rentable units near Sparta's historic square, ideal for investment.
      7 Marshall St, Sparta, TN 38583
      View Details
    • $499,900
      1,792 SF

      Budget Inn Motel Investment

      High-yield motel investment opportunity with consistent occupancy and strong cashflow.
      279 Mayberry St, Sparta, TN 38583
      View Details
    • $119,900

      Land in Sparta, Tennessee

      Land available for sale in Sparta, Tennessee.
      Glade Creek Rd, Sparta, TN 38583
      View Details
    • Contact for pricing
      Pending

      Land For Sale, Sparta, TN

      Land available in Sparta, Tennessee.
      Doe Creek Lake Dr, Sparta, TN 38583
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit property in central Sparta with income potential.
    Where is this quadplex located?
    The property is located at 414 W Bockman Way Sparta, TN.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: - Immediate income potential with all 4 units currently leased on 1-year terms.; - Located in the heart of Sparta on a main corridor with high traffic and excellent visibility.; - 3,120 sq ft 4-plex configured with 4 individual units (each with 1 bed, 1 bath, living room, kitchen, and laundry hookups).
    (260) 580-9443
    Request Owner's contact information
    414 W Bockman Way Sparta, TN 38583
    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.
    414 W Bockman Way
    Sparta, TN 38583
    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
    414 W Bockman Way Sparta, TN 38583
    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
    Jerica Halliburton
    Jerica Halliburton
    Real Estate License ID: 359567
    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!