Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Joe Milam Rd Buchanan, TN 38222

    View on Map
    Claim this Listing
    For Sale
    $548,000

    Vacant Lot,Acreage - BUCHANAN, TN

    Type:Single Family Residence
    Lot size:
    137.00 Acres
    Added:
    Dec 1, 2025
    Days on Market:
    150
    Last Refresh:
    Apr 30 at 12:06 am

    Property Features for Joe Milam Rd

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Exterior features
    None
    Standard status
    Active
    APN
    009.00
    Lot size
    137.00 Acres

    Utilities

    Heating system
    None (Heating)
    Cooling system
    None (Cooling)

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Logan Drewry

    Listing agent Logan Drewry

    Listing office Casey Drewry Realty 17636 Highland Dr, McKEnzie, TN

    Listing date Dec 1, 2025

    MLS# 133527 Listing URL

    Copyright © 2026 Tennessee Valley 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.

    Overview

    137 Acres Vacant Land, Buchanan

    This property features 137 acres of vacant land located in Buchanan, Tennessee. The land is classified as agricultural land and other agricultural land. It is located in HENRY County.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Buchanan
    County
    Henry
    State
    Tennessee
    Longitude
    -88.15437
    Latitude
    36.398018

    Nearby Similar for Sale

    • $475,000
      1,600 SF

      Commercial Building on 6+ Acres

      Commercial building with acreage near Paris Landing State Park.
      11631 HWY 79 North, BUCHANAN, TN 38222
      View Details
    • $1,600,000

      Turnkey RV Park Investment Opportunity

      Established RV park near Kentucky Lake with income and expansion potential.
      226 Swan Bay Drive, Buchanan, TN 38222
      View Details
    • $325,000

      6 Acres Near Kentucky Lake

      Vacant lot near Paris Landing State Park and Kentucky Lake.
      HWY 79 North, BUCHANAN, TN 38222
      View Details
    • $89,500

      Vacant Lots Near Kentucky Lake

      Two lots near Kentucky Lake with utilities and road frontage.
      2824 Cypress Rd, BUCHANAN, TN 38222
      View Details
    • $375,000

      Waterfront Acres in Buchanan, TN

      17.4 acres of waterfront property with development potential.
      Cypress Rd, BUCHANAN, TN 38222
      View Details
    • $149,900

      Residential Lot Near Kentucky Lake

      1.5 acre residential lot ready for building near Kentucky Lake.
      730 Swan Bay Road, BUCHANAN, TN 38222
      View Details
    • $175,000

      Residential Lot Near Paris Landing

      5.224 acre lot near Paris Landing State Park.
      HWY 79 North, BUCHANAN, TN 38222
      View Details
    • $156,500

      Residential Lots in Cobanna Estates

      Four residential lots totaling 0.62 acres in Buchanan, Tennessee.
      Cypress Rd, BUCHANAN, TN 38222
      View Details
    • $175,900

      Residential Lot Near Paris Landing

      5.6 acre residential lot near Paris Landing State Park.
      HWY 79 North, BUCHANAN, TN 38222
      View Details
    • $119,000

      RV Ready Lot Near Kentucky Lake

      1.36 acre lot with utilities near Paris Landing.
      12225 Off Highway 79 N, BUCHANAN, TN 38222
      View Details
    • $1,250,000
      12,000 SF

      Versatile Commercial Property Near Kentucky Lake

      Unique investment opportunity with multiple income streams near Kentucky Lake.
      15575 HWY 79N, BUCHANAN, TN 38222
      View Details
    • $245,000

      Tennessee Hunting Land Acreage

      35 acres of hunting land near Kentucky Lake.
      Swor Still Rd, BUCHANAN, TN 38222
      View Details

    FAQs

    What type of property is this?
    Land - 137 acre vacant land in Buchanan, Tennessee.
    Where is this land located?
    The property is located at Joe Milam Rd Buchanan, TN.
    What is the asking price?
    The asking price for this property is $548,000.
    What are key features of this property?
    This property features: No heating system; No cooling system; No exterior features
    (731) 415-8814
    We can help!
    Listing Contact
    Logan Drewry
    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!