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    833 N Prather Rd Michie, TN 38357

    View on Map
    Sponsored
    For Sale
    $4,250,000

    Agriculture - Michie, KY

    Type:Farm
    Lot size:
    441.67 Acres
    Days on Market:
    36
    Last Refresh:
    Mar 17 at 1:06 am

    Property Features for 833 N Prather Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    APN
    137-02700P-001
    Exterior features
    Fence
    Fencing
    Fenced
    Lot size
    441.67 Acres

    Utilities

    Water front features
    Pond(s)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Gravil
    Chris Gravil

    United Country, Heartland Realty & Auction, LLC (270) 791-5583

    Listing agent Chris Gravil (270) 783-3000 License #198496

    Listing date Feb 9, 2026

    MLS# RA20252227 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. 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

    Michie, KY Ranch Estate

    Located at 933 N Prather Road in Michie, Tennessee, this 441.67-acre ranch estate, part of the Crazy K Ranch, offers a blend of natural beauty and modern ranch infrastructure. The property is suited for use as a working ranch, event destination, or retreat. It features seven furnished guest cabins, a wedding barn with a private drive, a small event center, and a large auction/venue barn equipped with a kitchen suitable for hosting dinners, banquets, or a restaurant. A new horse arena is available for equestrian training, shows, and clinics. The property also includes a large equipment barn and breeding facility, a three-bedroom home, and a hotel-style strip with seven rooms. The non-contiguous layout allows for downsizing, development, or shared ownership. The ranch is suited for a songwriters' or artists’ retreat, a destination restaurant and event venue, or a wellness or corporate getaway, while generating income from lodging and hosted events. Situated in the southwest corner of Tennessee, the ranch is 15 minutes from Corinth, MS, 1 hour from Jackson, TN, 2 hours from Memphis, TN, and 3 hours from Nashville, TN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Crazy K Ranch Ranch

    Suggested Use

    Real Estate Agency Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Michie
    County
    McNairy
    State
    Tennessee
    Longitude
    -88.4739296
    Latitude
    35.0650815

    FAQs

    What type of property is this?
    Ranch - 441.67-acre ranch estate with diverse facilities and commercial potential.
    Where is this ranch located?
    The property is located at 833 N Prather Rd Michie, TN.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: - 441.67-acre ranch estate with diverse income potential.; - Turnkey operation with furnished guest cabins, wedding barn, event facilities, and horse arena.; - Includes a comfortable three-bedroom home and hotel-style strip with seven rooms.
    (270) 784-0829
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    833 N Prather Rd Michie, TN 38357
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    Michie, TN 38357
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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
    833 N Prather Rd Michie, TN 38357
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    We can help!
    Listing Contact
    Chris Gravil
    Chris Gravil
    Real Estate License ID: 198496
    (270) 784-0829 (270) 783-3000 (270) 791-5583
    Learn more
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