Sign Up Successful!
You now have access to more from Realmo!
    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

    Milky Way Rd, Unit 55 Jamestown, TN 38556

    Sponsored
    For Sale
    Contact for pricing

    LAND - Jamestown, TN

    Lot size:
    2.29 Acres
    Days on Market:
    139
    Last Refresh:
    Feb 1 at 2:06 am

    Property Features for Milky Way Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    062 037.44
    Lot size
    2.29 Acres

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Michele Ervin

    The Real Estate Collective (931) 559-9500

    Listing agent Michele Ervin (615) 714-6567

    Listing date Sep 16, 2025

    MLS# 239395

    Copyright © 2026 Upper Cumberland 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

    Land with Mountain Views

    This is a 2.29-acre parcel of gently rolling land that features mountain views. Utilities are available. Light restrictions are in place, making the property suitable for tiny homes. The property offers peace, privacy, and abundant wildlife. Obey River access is located approximately 2-3 miles away, and Eastport Marina is less than 10 miles from the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Jamestown
    County
    Fentress
    State
    Tennessee
    Longitude
    -85.1078999
    Latitude
    36.4415754

    Nearby Similar for Sale

    • $725,000
      25.00 Acres

      Equestrian Land with Barn and Septic

      25-acre equestrian property with barn, septic, and trail access.
      419 Palomino Run, Jamestown, TN 38556
      View Details
    • $220,000
      Pending

      Equestrian Property with RV Hookups

      5.71 acres with barn, RV hookups, and trail access.
      273 Spruce Crk Dr, Jamestown, TN 38556
      View Details
    • $749,000
      4,512 SF

      Jamestown Campground with Commercial Space

      Campground with commercial space, living quarters, and equestrian facilities.
      3341 Leatherwood Ford Rd, Jamestown, TN 38556
      View Details
    • $395,000
      11.46 Acres

      Equestrian Property with Riding Arena

      11.46 acres with barn, riding arena, fenced, cross-fenced.
      1008 Tanglewood Blvd, Jamestown, TN 38556
      View Details
    • $389,900
      3,000 SF

      Automotive Shop with Barber Shop

      Move-in ready automotive shop with equipment and barber shop.
      511 Central Ave W, Jamestown, TN 38556
      View Details
    • $110,000
      1.14 Acres

      Equestrian Land in Gated Community

      Bluff lot in gated equestrian community with trail access.
      Eagle Blf, Jamestown, TN 38556
      View Details
    • New
      $299,900
      3,300 SF

      Remodeled Cabin Near Big South Fork

      3,300+ sq ft cabin near Big South Fork National Park.
      329 Wheeler Ln, Jamestown, TN 38556
      View Details
    • $415,000
      1,536 SF

      Renovated Office Space in Jamestown

      Recently renovated office building near courthouse, post office, and banks.
      239 S Main St, Jamestown, TN 38556
      View Details
    • $389,900

      Automotive Shop with Barber Shop

      Move-in ready automotive shop with equipment and barber shop.
      511 Central Ave W, Jamestown, TN 38556
      View Details
    • $89,000
      840 SF

      Mobile Home with Mountain View

      Single-wide mobile home on a private 0.97-acre lot.
      199 Ambers Dr, Jamestown, TN 38556
      View Details
    • $350,000
      8,440 SF

      Jamestown Highway 127 Mixed-Use

      High-traffic location, ample parking, versatile space.
      832 Allardt Hwy, Jamestown, TN 38556
      View Details

    FAQs

    What type of property is this?
    Land - 2.29 acres with utilities, close to Obey River.
    Where is this land located?
    The property is located at Milky Way Rd, Unit 55 Jamestown, TN.
    What is the asking price?
    The asking price for this property is $16,500.
    What are key features of this property?
    This property features: - 2.29 acres with **beautiful mountain views**; - Obey River access is just 2-3 miles away; - Utilities are available (Water)
    (615) 714-6567
    Request Owner's contact information
    Milky Way Rd, Unit 55 Jamestown, TN 38556
    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.
    Milky Way Rd, Unit 55
    Jamestown, TN 38556
    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
    Milky Way Rd, Unit 55 Jamestown, TN 38556
    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

    We can help!
    Listing Contact
    Michele Ervin
    Real Estate License ID: 343437
    (615) 714-6567
    Learn more
    Google sign-in failed. Please try again or use another login method.