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

    Callalantee Drive Mountain City, TN 37683

    View on Map
    For Sale
    $68,900

    LAND - Mountain City, TN

    Lot size:
    2.28 Acres
    Added:
    Jul 25, 2023
    Days on Market:
    981
    Last Refresh:
    Mar 31 at 1:06 pm

    Property Features for Callalantee Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    041 144.00
    Lot size
    2.28 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    114

    We can help!

    Listing Contact
    Elizabeth Cornett

    Listing agent Elizabeth Cornett License #300988

    Listing office Ace Realty 202 W Main Street, TN

    Listing date Jul 25, 2023

    MLS# 9954698

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mountain City Land with Views

    Located in the mountains of Northeast Tennessee, this 2.28+/- acre tract is situated on the corner of Callalantee Drive and Cherokee Drive within the Callalantee Mountain Resort. The property, identified as Lot 16, offers options for division. This property is located in a gated development near Mountain City and features easy access, long range mountain views, and wooded privacy. The natural landscape complements all four seasons in the Blue Ridge Mountains. The location is minutes away from Lake Watauga, Watauga Lake Winery, Boone NC, VA Creeper & Appalachian Trails, and other area attractions. Restrictions apply. Buyer/buyer's agent to verify all information.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Mountain City
    County
    Johnson
    State
    Tennessee
    Longitude
    -81.768899
    Latitude
    36.47591

    Nearby Similar for Sale

    • $850,000
      1,500 SF

      Established Bar and Grill For Sale

      Turnkey bar and grill with indoor and outdoor seating.
      4020 Roan Creek Road unit: 2, Mountain City, TN 37683
      View Details
    • $850,000

      Established Bar and Grill for Sale

      Turnkey bar and grill with indoor and outdoor seating.
      4020 Roan Creek Road unit: 1, Mountain City, TN 37683
      View Details
    • $850,000

      Established Bar and Grill

      Turnkey bar and grill with indoor and outdoor seating.
      4020 Roan Creek Rd #2, Mountain City, TN 37683
      View Details
    • $850,000

      Turnkey Bar and Grill

      Established bar and grill with indoor and outdoor seating.
      4020 Roan Creek Rd #1, Mountain City, TN 37683
      View Details
    • $850,000
      2,400 SF

      Restaurant Building in Mountain City

      Restaurant building with equipment included in Mountain City, Tennessee.
      693 S Shady Street, Mountain City, TN 37683
      View Details
    • $600,000
      2,400 SF

      Restaurant Opportunity in Mountain City

      Restaurant building with equipment included in prime Mountain City location.
      693 S Shady Street, Mountain City, TN 37683
      View Details
    • $189,900
      2,100 SF

      Mountain City Commercial Opportunity

      Commercial building in central location with recent updates.
      122 E Main Street, Mountain City, TN 37683
      View Details
    • $399,900
      3,024 SF

      Mountain City Office Building For Sale

      3,024 sqft office building in the heart of Mountain City.
      212 N Church Street, Mountain City, TN 37683
      View Details
    • $275,000
      5,376 SF

      Historic Downtown Mountain City Landmark

      Iconic commercial building with prime Main Street frontage.
      119 W Main Street, Mountain City, TN 37683
      View Details
    • $4,150,000
      55,000 SF

      Mountain City Commercial Warehouse Property

      Large commercial warehouse with residential unit and development potential.
      241 Industrial Park Road, Mountain City, TN 37683
      View Details
    • $899,900

      66 Acres with Mountain Views

      Land with pastures, streams, and development potential near Doe Mountain.
      Hwy 67, Mountain City, TN 37683
      View Details
    • $299,999

      Mountain City Multifamily Investment Opportunity

      Multifamily property with six apartments, good rental history, great location.
      611 S Church Street, Mountain City, TN 37683
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.28+/- acre lot in gated community with mountain views.
    Where is this residential land & home lot located?
    The property is located at Callalantee Drive Mountain City, TN.
    What is the asking price?
    The asking price for this property is $68,900.
    What are key features of this property?
    This property features: Long range mountain views; Located in a desirable gated development; 2.28+\/- acre tract with options for division
    (423) 471-1652
    We can help!
    Listing Contact
    Elizabeth Cornett
    Real Estate License ID: 300988
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!