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    587 Lakes Rd Tracy City, TN 37387

    Sponsored
    For Sale
    $1,799,995

    MULTI_FAMILY - Tracy City, TN

    Property size:
    11,400 SF
    Lot size:
    47.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 4 at 6:06 am

    Property Features for 587 Lakes Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
    Bedrooms
    4
    APN
    102 06000 000
    Parking features
    Off Street
    Patio and Porch features
    Deck
    Pets allowed
    Yes
    Interior features
    Breakfast Nook, Cathedral Ceiling(s), Ceiling Fan(s), Chandelier, Plumbed
    Exterior features
    Balcony, Barbecue, Courtyard, Fire Pit, Outdoor Grill, Playground, Private Entrance, RV Hookup, Storage, Tennis Court(s), Uncovered Courtyard
    Appliances
    Oven, Microwave, Electric Water Heater, Dryer
    Size
    11,400 SF
    Lot size
    47.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Exhaust Fan (Heating)
    Cooling system
    Varies by Unit, Ceiling Fan(s)
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1946
    Floors in Building
    1
    Number of units
    10
    Flooring type
    Wood
    Building materials
    Wood Siding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Daniel Vaks

    Real Estate Partners Chattanooga LLC (423) 265-0088

    Listing agent Daniel Vaks (423) 265-0088 License #349079

    Listing date Mar 3, 2026

    MLS# 1529612

    Copyright © 2026 Greater Chattanooga 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

    Unique Campground and Venue Opportunity

    This unique property, located near Fiery Gizzard and the Cumberland waterfalls, presents an investment opportunity as a wedding venue, yoga retreat, or Airbnb compound. The property includes 10 fully remodeled cabins and two expandable entertainment barns. Expandable structures are present that could be converted to additional cabins. The grounds span 47 acres, with a designated area suitable for an RV park or other development. The majority of the land is secluded, offering possibilities for more cabins, glamping, rustic campsites, or recreational activities. The camp features its own access to Grundy Lake. Laundry facilities are located on site. There is an additional plumbed area with power, previously used as horse stalls. The business includes a social media account with 55,000 organic followers. The property has been tastefully designed by local designers, artists, and craftsmen. The property contains 11,400 square feet of improvements. The camp is fully staffed. The property is located in Tracy City, Tennessee.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grundy Lakes at South ... Park

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Pharmacy Food Market Grocery & Convenience Store Furniture & Home Goods Discount Store Car Rental Facility Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Tracy City
    County
    Grundy
    State
    Tennessee
    Longitude
    -85.719098
    Latitude
    35.2647

    FAQs

    What type of property is this?
    Campground - Renovated campground and venue on 47 acres near waterfalls.
    Where is this campground located?
    The property is located at 587 Lakes Rd Tracy City, TN.
    What is the asking price?
    The asking price for this property is $1,799,995.
    What are key features of this property?
    This property features: - Turnkey business opportunity: Established wedding venue, retreat, or Airbnb compound with 10 remodeled cabins and expandable barn-style venue spaces.; - Significant expansion potential on 47 acres with designated RV park area and ample space for additional cabins, glamping, or recreational activities.; - Prime location: Close proximity to Fiery Gizzard and Cumberland waterfalls, offering natural attractions for guests.
    (423) 417-1414
    Request Owner's contact information
    587 Lakes Rd Tracy City, TN 37387
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    Tracy City, TN 37387
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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
    587 Lakes Rd Tracy City, TN 37387
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    We can help!
    Listing Contact
    Daniel Vaks
    Real Estate License ID: 349079
    (423) 417-1414 (423) 265-0088
    Learn more
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