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    The Largest CRE Database in the US with Over 1 Million Listings

    977 Hwy W, Unit 25-70 Newport, TN 37821

    Sponsored
    For Sale
    $701,000

    COMMERCIAL - Other - Newport, TN

    Property size:
    10,000 SF
    Lot size:
    1.90 Acres
    Days on Market:
    22
    Last Refresh:
    Mar 3 at 6:06 pm

    Property Features for 977 Hwy W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    046 129.00
    Size
    10,000 SF
    Lot size
    1.90 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1961
    Building materials
    Block, Asphalt
    Roof type
    Shingle, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Stephanie Posey

    Country Living Realty (423) 237-1046

    Listing agent Stephanie Posey (423) 237-8287

    Listing date Feb 10, 2026

    MLS# 700019

    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

    Versatile Commercial Property on 1.9 Acres

    This commercial property features over 10,000 sq ft of usable space on 1.9 acres of land, suitable for a warehouse or various business types. The location is near the entrance of the expanded Highway 321, with travel times of approximately 45 minutes to Gatlinburg, 35 minutes to Sevierville, and 48 minutes to Knoxville. Situated off I-40, the property includes 247 feet of highway road frontage and over 50 parking spaces in a paved parking lot. A separate apartment with its own entrance is located at the back of the building. The apartment is currently configured as a 1-bedroom, 1-bathroom space but can be converted into a 2-bedroom unit, and includes a microwave, range, and washer and dryer hookups. Previously used as a bowling alley, the property is equipped with amenities such as an air hockey table, video games, and vending machines. The roof is approximately 10 years old. The property is located in Newport, TN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Map

    City
    Newport
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.236269
    Latitude
    35.973088

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    FAQs

    What type of property is this?
    Bowling alley - Over 10,000 sq ft on 1.9 acres near I-40.
    Where is this bowling alley located?
    The property is located at 977 Hwy W, Unit 25-70 Newport, TN.
    What is the asking price?
    The asking price for this property is $701,000.
    What are key features of this property?
    This property features: - Over 10,000 sq ft of usable space on 1.9 acres.; - **Excellent location** near expanded Highway 321 and I-40, providing easy access to Gatlinburg, Sevierville, and Knoxville.; - **247 feet of highway road frontage** with over 50 paved parking spaces.
    (423) 237-1046
    Request Owner's contact information
    977 Hwy W, Unit 25-70 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
    977 Hwy W, Unit 25-70 Newport, TN 37821
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    We can help!
    Listing Contact
    Stephanie Posey
    Real Estate License ID: 318294
    (423) 237-1046 (423) 237-8287
    Learn more
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