Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Lot Opportunity Title is generated by Realmo AI

    Erwin Highway, Greeneville, TN 37745

    View on Map
    Claim this Listing
    For Sale
    $328,900

    COMMERCIAL - Greeneville, TN

    Lot size:
    1.57 Acres
    Added:
    Mar 10, 2025
    Days on Market:
    451
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for Erwin Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B4
    Standard status
    Active
    APN
    087m B 011.00 009.01
    Lot size
    1.57 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1468

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Caine Ballard

    Listing agent Caine Ballard License #357098

    Listing office Greeneville Real Estate & Auction Team 210 W Summer St, TN

    Listing date Mar 10, 2025

    MLS# 9977059

    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.

    HighLights

    • Prime commercial lot with B4 zoning offering diverse business opportunities.
    • Extremely high daily traffic count on Andrew Johnson Hwy and Erwin Hwy.
    • Located next to major retailers and restaurants like McDonalds and Chick‑Fil‑A, plus near Tusculum University.
    • Land is ready for development with utilities like public water and sewer available.
    • Road frontage of 275 ft., depth of 250 ft., and 273 ft. at the back.
    • Engineered drainage system in place, including a 6ft. tile and retention pond approved by the city.

    Overview

    This 1.57-acre commercial lot is located on Andrew Johnson Highway and Erwin Highway in Greeneville, TN, offering a prime location with high daily traffic. The B4 zoning provides various opportunities for business ventures. The lot features 275 feet of road frontage, a depth of 250 feet, and a back width of 273 feet. The property is situated near McDonalds, Chick-Fil-A, Waffle House, Apple Bee's, grocery stores, Verizon, and Tusculum University. A 6-foot tile was installed during the area's development, running behind Hardies, under Wash Depot, and under this lot, exiting at the end of the property. A retention pond at the end of the lot accommodates surface water from Wash Depot and the 1.57 acres, with city approval. While the tax map indicates a flood zone, a surveyor's assessment places it at the very back of the lot, primarily on the hill, due to construction work done to prepare the land for building. This land is ready for business development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Greeneville
    County
    Greene
    State
    Tennessee
    Longitude
    -82.775297
    Latitude
    36.179593

    Nearby Similar for Sale

    • $699,999
      7,509 SF

      Spacious Greeneville Commercial Opportunity

      High-visibility commercial property on 2.1 acres with 7,509 sqft building.
      3124 W Andrew Johnson Highway, Greeneville, TN 37743
      View Details
    • $520,000
      2,501 SF

      Greeneville Commercial Building For Sale

      2500 sqft commercial building in a bustling business district.
      2040 E Andrew Johnson Highway, Greeneville, TN 37745
      View Details
    • $495,000
      1,480 SF

      Historic Landmark Investment Opportunity

      Turnkey business with expansion potential in a thriving countryside corridor.
      5990 Cedar Creek Road, Greeneville, TN 37743
      View Details
    • $1,495,000
      31,960 SF

      Versatile Commercial Property on Highway

      31,960 SF commercial property with warehouse and office space.
      965 E Andrew Johnson Highway, Greeneville, TN 37745
      View Details
    • $849,900
      1,143 SF

      Prime Interstate Commercial Acreage

      High-visibility commercial land with income potential near Interstate 81.
      90 Bailey Street, Greeneville, TN 37745
      View Details
    • $849,900
      3,825 SF

      Commercial Building in Greeneville, TN

      Retail, restaurant, or office space opportunity in Greeneville.
      914 Snapps Ferry Road, Greeneville, TN 37745
      View Details
    • $772,400
      7,184 SF

      Spacious Duplex in Prime Location

      Income-producing duplex with flexible living and investment potential.
      101 Crestview Drive, Greeneville, TN 37745
      View Details
    • $2,000,000
      1,624 SF

      Downtown Greeneville Liquor Store Opportunity

      Established liquor store with high sales volume and expansion potential.
      200 W Summer Street, Greeneville, TN 37743
      View Details
    • $150,000
      3,606 SF

      Historic Church on Peaceful Acres

      Charming early 1900s church on 1.8 acres in Greeneville.
      7810 Lonesome Pine Trail, Greeneville, TN 37743
      View Details
    • $849,900

      Prime Commercial Land Opportunity

      7.5 acre commercial tract with high visibility and income potential.
      90 Bailey Street, Greeneville, TN 37745
      View Details
    • $384,900
      1,820 SF

      Well-Maintained Duplex in Greeneville, TN

      Duplex with renovated unit and leased unit for immediate income.
      377 Bandy Road, Greeneville, TN 37743
      View Details
    • $445,000
      2,100 SF

      Turnkey Daycare Facility in Greeneville

      Fully equipped daycare center ready for immediate operation.
      208 Majestic Circle, Greeneville, TN 37743
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-traffic commercial land near major retailers and Tusculum University.
    Where is this commercial land located?
    The property is located at Erwin Highway Greeneville, TN.
    What is the asking price?
    The asking price for this property is $328,900.
    What are key features of this property?
    This property features: Prime commercial lot with B4 zoning offering diverse business opportunities.; Extremely high daily traffic count on Andrew Johnson Hwy and Erwin Hwy.; Located next to major retailers and restaurants like McDonalds and Chick‑Fil‑A, plus near Tusculum University.
    (423) 620-9780
    We can help!
    Listing Contact
    Caine Ballard
    Real Estate License ID: 357098
    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

    Thank You for Inquiry
    Erwin Highway, Greeneville, TN 37745
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!