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

    L97 Falcon Tr Vonore, TN 37885

    View on Map
    Claim this Listing
    Pending
    $75,000

    LAND - Vonore, TN

    Lot size:
    0.79 Acres
    Added:
    Jan 16, 2026
    Days on Market:
    103
    Last Refresh:
    Apr 29 at 1:06 am

    Property Features for L97 Falcon Tr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    028P A 097.00
    Lot size
    0.79 Acres

    Taxes and HOA fees

    Tax Annual Amount
    151

    We can help!

    Listing Contact
    Kody Millikan
    Kody Millikan

    Listing agent Kody Millikan

    Listing office Lakefront Living, On the Lake 100 Rarity Bay Parkway, Vonore, TN

    Listing date Jan 16, 2026

    MLS# 1326723 Listing URL

    Copyright © 2026 East Tennessee 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

    Residential Lot in Legacy Shores

    Located at Lot 97 Falcon Trail in Vonore, Tennessee, this 0.79-acre residential lot is situated in the Legacy Shores subdivision. The gently rolling homesite is located on a quiet, paved road. The lot, spanning approximately 34,412 square feet, features an irregular shape. Public water, sewer, and electric services are available. The property is located outside of flood hazard areas (Zone X). Legacy Shores is known for its proximity to Tellico Lake, local marinas, and everyday amenities. Located in Monroe County, this lot offers an opportunity to build a full-time residence or a retreat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Hotel & Motel Skin Care Clinic Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Vonore
    County
    Monroe
    State
    Tennessee
    Longitude
    -84.253404
    Latitude
    35.589881

    Nearby Similar for Sale

    • $329,900

      Tellico Lake Waterfront Homesite

      0.94-acre lakefront property with dock permit on file.
      L-103 Falcon Tr, Vonore, TN 37885
      View Details
    • $432,000

      Highway 72 Development Opportunity

      9.6-acre parcel on Highway 72 and East Coast Tellico Parkway.
      Highway 72, Vonore, TN 37885
      View Details
    • $599,000

      Vonore Acreage Near Tellico Lake

      30.44 acres in Vonore near Tellico Lake and mountains.
      317 Mountain View Drive, Vonore, TN 37885
      View Details
    • $599,000

      Vonore Acreage Near Tellico Lake

      30.44 acres in Vonore near Tellico Lake.
      317 Mountain View Drive, Vonore, TN 37885
      View Details
    • $249,000

      Land For Sale, Vonore, TN

      1.6 acre commercial land for sale in Vonore, Tennessee.
      Volunteer Lane, Vonore, TN 37885
      View Details
    • $575,000

      Tellico Lake Waterfront Land Opportunity

      0.72-acre level lot with private dock in gated golf community.
      728 Wood Duck Drive, Vonore, TN 37885
      View Details
    • $999,000

      Lakefront Lot in Rarity Bay

      Build-ready lakefront lot with custom dock and panoramic views.
      155 Pineberry Drive, Vonore, TN 37885
      View Details
    • $345,000

      Vonore Land with Lake Access

      34.32 acres of wooded privacy with lake access.
      3 Three Point Rd, Vonore, TN 37885
      View Details
    • $75,000

      Cleared Lot with Seasonal Views

      Spacious lot in gated community with lake and mountain views.
      200 Killdeer Drive, Vonore, TN 37885
      View Details
    • $94,900

      Wooded Lot in Quiet Cul-de-Sac

      Private lot for dream home in desirable community.
      765 Wood Duck Drive, Vonore, TN 37885
      View Details
    • $150,000

      Golf Course Lot Opportunity

      Desirable golf course lot in Rarity Bay community.
      415 Wood Duck Drive, Vonore, TN 37885
      View Details
    • $255,000

      Vonore Land with Lake Views

      4.63 acres with lake views, utilities, and septic system.
      151 Citico Road, Vonore, TN 37885
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.79-acre build-ready lot in Vonore, near Tellico Lake.
    Where is this residential land & home lot located?
    The property is located at L97 Falcon Tr Vonore, TN.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Build‑ready lot with public water, sewer, and electric available.; Large 0.79‑acre lot (34,412 sq ft) in the desirable Legacy Shores subdivision.; Located outside of flood hazard areas (Zone X).
    (423) 519-3258
    We can help!
    Listing Contact
    Kody Millikan
    Kody Millikan
    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!