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

    Par 87.03 Overview Way Newport, TN 37821

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    LAND - Newport, TN

    Lot size:
    2.39 Acres
    Added:
    May 2, 2025
    Days on Market:
    352
    Last Refresh:
    Apr 18 at 10:06 pm

    Property Features for Par 87.03 Overview Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R
    Standard status
    Active
    APN
    87.03
    Lot size
    2.39 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    110

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed

    We can help!

    Listing Contact
    Rae Massey

    Listing agent Rae Massey License #311727

    Listing office Massey Realty 425 Beech St., TN

    Listing date May 2, 2025

    MLS# 306273 Listing URL

    Copyright © 2026 Great Smoky Mountains 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

    Wooded Land in Newport, Tennessee

    This property features 2.39 wooded acres on English Mountain, suitable for a tiny home, mobile home, or site-built home. The property has road frontage at the base and potential building sites with views near the top, contingent on some tree removal. Restrictions include no junk cars, swine, or commercial chickens, and trailers must be neat and underpinned. The buyer will need to install a driveway at the base of the property. Well and septic are needed, and electricity is available at the road. The location offers proximity to Newport, Pigeon Forge, Dollywood, Gatlinburg, Dandridge, Morristown, Hot Springs, The Great Smoky Mountain National Park, Cosby & Big Creek Campground, the Appalachian Trail, Douglas Lake, Cataloochee Valley, and Maggie Valley. This property is located in Cocke County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Newport
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.231943
    Latitude
    35.949442

    Nearby Similar for Sale

    • $595,000
      2,848 SF

      Renovated Commercial Building Near I-40

      Move-in ready, multi-use commercial building suitable for various business ventures.
      1010 W Highway 25 70, Newport, TN 37821
      View Details
    • $1,500,000
      12,660 SF

      Versatile Commercial Property with Warehouse

      Distribution warehouse with living quarters and high visibility.
      868 W Hwy 25 70, Newport, TN 37821
      View Details
    • $748,800
      3,561 SF

      Turnkey Investment Property Near Smokies

      Income-producing triplex and single-family home near medical facilities.
      2482 Elk Way, Newport, TN 37821
      View Details
    • $2,500,000
      1,190 SF

      Turnkey Campground Near Smoky Mountains

      Established campground on 11.9 acres near Great Smoky Mountains.
      141 Lower Bogard Road, Newport, TN 37821
      View Details
    • $2,500,000

      Turnkey Campground Near Smoky Mountains

      Established campground on 11.9 acres near Great Smoky Mountains.
      141 Lower Bogard Road, Newport, TN 37821
      View Details
    • $369,900

      Commercial Land in Newport, TN

      Road front commercial property suitable for any business.
      104 Burke Street, Newport, TN 37821
      View Details
    • $1,056,770

      28 Acres on Highway 321

      28 acres with highway frontage near I-40 and utilities.
      Cosby Highway, Newport, TN 37821
      View Details
    • $701,000

      Versatile Commercial Building on 1.9 Acres

      Over 10,000 sq ft building suitable for various businesses.
      977 W Highway 25-70, Newport, TN 37821
      View Details
    • $748,800
      6,133 SF

      Turnkey Smoky Mountains Investment Opportunity

      Income-producing tri-plex and single-family home near the Smoky Mountains.
      2482 Elk Way, Newport, TN 37821
      View Details
    • $748,800

      Turnkey Investment Opportunity Near Smokies

      Income-producing tri-plex and single-family home near medical facilities.
      2482 Elk Way, Newport, TN 37821
      View Details
    • $479,000
      1,920 SF

      Mountain View Multi-Family Investment

      Two homes on 17 acres with mountain views.
      385 Gardenia Road, Newport, TN 37821
      View Details
    • $40,000

      Smoky Mountain Buildable Homesite

      1.19 acres in Newport, TN with utilities available.
      Blue Springs Way lot: 27, Newport, TN 37821
      View Details

    FAQs

    What type of property is this?
    Land - 2.39 acres of wooded land with potential building sites.
    Where is this land located?
    The property is located at Par 87.03 Overview Way Newport, TN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 2.39 wooded acres on English Mountain.; Affordable property suitable for tiny home, mobile home, or site‑built home.; Potential for stunning views from building sites near the top of the property.
    (865) 805-0322
    We can help!
    Listing Contact
    Rae Massey
    Real Estate License ID: 311727
    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!